Modelling Reality

Abstract

Financial modelling takes many forms, as evidenced by the wide spread of topics covered in this volume. All the papers published herein were presented at either the 9^th meeting, in Curaçao, or the 10^th meeting, in London, of the EURO Working Group and subsequently independently refereed and in many cases revised. I would like to express my gratitude to all the referees for their work. I would especially like to thank Robin Hewins for co-organising the London meeting with me, and for helping in the production of this volume. The topics range from the simulation of a pension fund to the management of a swaps portfolio; from inventory evaluation to the pricing of contingent claim securities; from the behaviour of traders to the inclusion of subjective beliefs in forecasting.