Modern pricing models
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The person who developed this financial model was Mr.... Steven Heston, who was an associate finance professor as at the time of developing this model in 1993.... As such, he named the financial model after himself, the Heston model.... As such, he was able to develop a model that provided pricing options with a closed-form solution in an attempt to overcome THE MODERN PRICING model (GBM, MERTON model, HESTON model, BATES model) By StateDate of SubmissionHeston ModelDefinition of the Heston model The Heston model refers to another type of financial pricing model incorporating the stochastic volatility....