High Quality Content by WIKIPEDIA articles! The Black–Scholes model /?bl?k ??o?lz/ or Black–Scholes–Merton is a mathematical model of a financial market containing certain derivative investment instruments. From the model, one can deduce the Black–Scholes formula, which gives the price of European-style options. The formula led to a boom in options trading and legitimised scientifically the activities of the Chicago Board Options Exchange and other options markets around the world. lt is widely used by options market participants.:751 Many empirical tests have shown the Black–Scholes price is "fairly close" to the observed prices, although there are well-known discrepancies such as the “option smile”.:770–771 Данное издание представляет собой компиляцию сведений, находящихся в свободном доступе в среде Интернет в целом, и в информационном сетевом ресурсе "Википедия" в частности. Собранная по частотным запросам указанной тематики, данная компиляция построена по принципу подбора близких...