The Heston model, named after Steven L. Heston, is a representative continuous-time stochastic volatility (SV) model. It assumes that the volatility of an asset is evolving over time following the Cox-Ingersol-Ross (CIR) process rather than staying unchanged. While it is not the first SV model, it became popular in finance academia and industry thanks to its analytic property. For example, the option ...

In many countries, student loans are very important for financing higher education

In the new model, sellers benefit from learning-by-doing but buyers are critically important in the way that they are able to partly internalize the impacts of their purchase decisions on the dynamics of market structure evolution