{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2016:WCYHFKZ73YXRIBND4H7KLXXESR","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":"9ecfc48fa366c0cb347313d984e97418b2793347117f48166dbfef617d93cbb3","cross_cats_sorted":["q-fin.CP"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PR","submitted_at":"2016-12-09T14:13:48Z","title_canon_sha256":"3ee08354689d05871694daf8974cc0490f3755c87399dcb6c90b89dc9be7e896"},"schema_version":"1.0","source":{"id":"1612.03031","kind":"arxiv","version":1}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1612.03031","created_at":"2026-05-18T00:55:27Z"},{"alias_kind":"arxiv_version","alias_value":"1612.03031v1","created_at":"2026-05-18T00:55:27Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1612.03031","created_at":"2026-05-18T00:55:27Z"},{"alias_kind":"pith_short_12","alias_value":"WCYHFKZ73YXR","created_at":"2026-05-18T12:30:48Z"},{"alias_kind":"pith_short_16","alias_value":"WCYHFKZ73YXRIBND","created_at":"2026-05-18T12:30:48Z"},{"alias_kind":"pith_short_8","alias_value":"WCYHFKZ7","created_at":"2026-05-18T12:30:48Z"}],"graph_snapshots":[{"event_id":"sha256:d003a27268ebee9ad1f255dc94a2b47dedc1c1c5d3113b57576e39156b1bbdcd","target":"graph","created_at":"2026-05-18T00:55:27Z","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":"Using a fast numerical technique, we investigate a large database of investor suboptimal non-exercise of short maturity American call options on dividend-paying stocks listed on the Dow Jones. The correct modelling of the discrete dividend is essential for a correct calculation of the early exercise boundary as confirmed by theoretical insights. Pricing with stochastic volatility and jumps instead of the Black-Scholes-Merton benchmark cuts by a quarter the amount lost by investors through suboptimal exercise. The remaining three quarters are largely unexplained by transaction fees and may be i","authors_text":"Antonio Cosma, Olivier Scaillet, Paola Pederzoli, Stefano Galluccio","cross_cats":["q-fin.CP"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PR","submitted_at":"2016-12-09T14:13:48Z","title":"Early exercise decision in American options with dividends, stochastic volatility and jumps"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1612.03031","kind":"arxiv","version":1},"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":"sha256:47e68ef36cf9d7fb1ceecc6ad60b72e26fcabda36d6426b783536c32e45e5528","target":"record","created_at":"2026-05-18T00:55:27Z","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":"9ecfc48fa366c0cb347313d984e97418b2793347117f48166dbfef617d93cbb3","cross_cats_sorted":["q-fin.CP"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PR","submitted_at":"2016-12-09T14:13:48Z","title_canon_sha256":"3ee08354689d05871694daf8974cc0490f3755c87399dcb6c90b89dc9be7e896"},"schema_version":"1.0","source":{"id":"1612.03031","kind":"arxiv","version":1}},"canonical_sha256":"b0b072ab3fde2f1405a3e1fea5dee4945233a31d6410975594b616fa6ff3ebe3","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"b0b072ab3fde2f1405a3e1fea5dee4945233a31d6410975594b616fa6ff3ebe3","first_computed_at":"2026-05-18T00:55:27.619344Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T00:55:27.619344Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"U2PCWETISiEiGkor1DlDBW0I595TFIbLU7alk4W+PD2AHH9ujgqG9AAry6j4H1hLFjXqnmPaMnfNwkwSwYPsCQ==","signature_status":"signed_v1","signed_at":"2026-05-18T00:55:27.619836Z","signed_message":"canonical_sha256_bytes"},"source_id":"1612.03031","source_kind":"arxiv","source_version":1}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:47e68ef36cf9d7fb1ceecc6ad60b72e26fcabda36d6426b783536c32e45e5528","sha256:d003a27268ebee9ad1f255dc94a2b47dedc1c1c5d3113b57576e39156b1bbdcd"],"state_sha256":"97691a9095dfad2714e6ad611391ac90e758ff6072297613c5e7b8c2cb52e393"}