Elasticity theory of structuring
classification
💱 q-fin.GN
keywords
theoryachievesbeenbettingcasino-stylecriticizedderivativesdesign
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Financial derivatives have often been criticized as casino-style betting instruments. It turns out that many naive ways of making them are indeed equivalent to gambling. Fortunately, this inadvertent effect can be understood and prevented. We present a theory of product design which achieves that.
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