{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2018:VOBGRLXFZ2MOQE7W4GOJQUJ6AG","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"60f1244c0a4ac70b8ba346c3c870f73e35cbd232f09c21a2d5d778f51d85d41c","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.GN","submitted_at":"2018-04-10T00:49:49Z","title_canon_sha256":"9ca902755df6e3b0d70dc0e69870158f0422a21808eb4e440f8bded4fba1d050"},"schema_version":"1.0","source":{"id":"1804.03290","kind":"arxiv","version":2}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1804.03290","created_at":"2026-05-18T00:08:15Z"},{"alias_kind":"arxiv_version","alias_value":"1804.03290v2","created_at":"2026-05-18T00:08:15Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1804.03290","created_at":"2026-05-18T00:08:15Z"},{"alias_kind":"pith_short_12","alias_value":"VOBGRLXFZ2MO","created_at":"2026-05-18T12:32:59Z"},{"alias_kind":"pith_short_16","alias_value":"VOBGRLXFZ2MOQE7W","created_at":"2026-05-18T12:32:59Z"},{"alias_kind":"pith_short_8","alias_value":"VOBGRLXF","created_at":"2026-05-18T12:32:59Z"}],"graph_snapshots":[{"event_id":"sha256:e1d0d2d869df2666e0c4d0f800659f819261d12d1e7b854a976dd89ee5225911","target":"graph","created_at":"2026-05-18T00:08:15Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"The Black-Scholes model (sometimes known as the Black-Scholes-Merton model) gives a theoretical estimate for the price of European options. The price evolution under this model is described by the Black-Scholes formula, one of the most well-known formulas in mathematical finance. For their discovery, Merton and Scholes have been awarded the 1997 Nobel prize in Economics. The standard method of deriving the Black-Scholes European call option pricing formula involves stochastic differential equations. This approach is out of reach for most students learning the model for the first time. We provi","authors_text":"Anthony Sisti, Lowen Peng, Phanuel Mariano, Rajeshwari Majumdar","cross_cats":[],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.GN","submitted_at":"2018-04-10T00:49:49Z","title":"A derivation of the Black-Scholes option pricing model using a central limit theorem argument"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1804.03290","kind":"arxiv","version":2},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:06eed257b954e321bb6cc8bef48d68c40213229eb8fb834a3aee775208bd278a","target":"record","created_at":"2026-05-18T00:08:15Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"60f1244c0a4ac70b8ba346c3c870f73e35cbd232f09c21a2d5d778f51d85d41c","cross_cats_sorted":[],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.GN","submitted_at":"2018-04-10T00:49:49Z","title_canon_sha256":"9ca902755df6e3b0d70dc0e69870158f0422a21808eb4e440f8bded4fba1d050"},"schema_version":"1.0","source":{"id":"1804.03290","kind":"arxiv","version":2}},"canonical_sha256":"ab8268aee5ce98e813f6e19c98513e0192fa3916d9a1591f73d7ac212a4a865a","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"ab8268aee5ce98e813f6e19c98513e0192fa3916d9a1591f73d7ac212a4a865a","first_computed_at":"2026-05-18T00:08:15.038148Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T00:08:15.038148Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"Y6fhM/7yxDPYwR+joipSfOapTQGLNpjdCp395kVFWVouFLk8nH/gnSrRi53MI7QXlCizyu6BKG5+2gTURcoOCQ==","signature_status":"signed_v1","signed_at":"2026-05-18T00:08:15.038514Z","signed_message":"canonical_sha256_bytes"},"source_id":"1804.03290","source_kind":"arxiv","source_version":2}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:06eed257b954e321bb6cc8bef48d68c40213229eb8fb834a3aee775208bd278a","sha256:e1d0d2d869df2666e0c4d0f800659f819261d12d1e7b854a976dd89ee5225911"],"state_sha256":"f532f21d05c11a037d0e96931657c604a8e07dabd4302bf841050bd416be6181"}