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In this paper, we present a parallel pricing algorithm for Asian options based on the Discrete Wavelet Transform. The computational kernel of the pricing model is the solution of integral equations. We obtain a sparse and accurate representation of the kernel of such equations in wavelet function bases. It is worth pointing out that the execution time of our procedure is almost constant with respect to the number of monitoring dates. Thus, our pricing procedure is particularly competitive when the number of monitoring dates is large. We moreover discuss the parallelization of the algorithm. Numerical results that show the accuracy and efficiency of the procedure are reported in the paper. [ABSTRACT FROM AUTHOR]

This paper describes the results of an experiment conducted in a technical university in Italy in 2019, involving the implementation and evaluation of an innovative short course on financial education. The programme applied a novel approach based on online learning and its effectiveness is compared against the effects of a traditional on-campus lecture, within an experimental setting. The findings indicate that the programme is effective: one week after taking the course, the students improved their pre-course test scores by about 4 points out of 10. No statistically significant difference in gains is found between students assigned to the online vs the on-campus mode of learning, suggesting a potential positive role of digital learning in this specific setting. An exploratory analysis of factors associated with the outcome reveal that the course has been particularly beneficial for those students initially less interested in finance., Competing Interests: Declarations of interest None., (Copyright © 2023 Elsevier Ltd. All rights reserved.)

In this paper we deal with the optimal bankruptcy problem for agents who can optimally allocate their consumption rate, the amount of capital invested in the risky asset, as well as their leisure time. In our framework, the agents are endowed by an initial debt, and they are required to repay their debt continuously. Declaring bankruptcy, the debt repayment is exempted at the cost of a wealth shrinkage. We implement the duality method to solve the problem analytically and conduct a sensitivity analysis to the bankruptcy cost and benefit parameters. Introducing the flexible leisure/working rate, and therefore the labour income, into the bankruptcy model, we investigate its effect on the optimal strategies., Supplementary Information: The online version contains supplementary material available at 10.1007/s10479-023-05166-z., (© The Author(s) 2023.)