An elementary derivation of the alternating bit protocol

Author(s):  
W. H. J. Feijen ◽  
A. J. M. van Gasteren ◽  
Birgit Schieder
1976 ◽  
Vol 15 (12) ◽  
pp. 2949 ◽  
Author(s):  
D. Marcuse

2005 ◽  
Vol 08 (05) ◽  
pp. 623-633 ◽  
Author(s):  
SIU-AH NG

The paradox of the Stop-Loss-Start-Gain trading strategy is resolved by showing that along the hyperfinite timeline the strategy incurs infinitesimal losses summing up to a non-infinitesimal amount. As a consequence, the Black–Scholes formula is derived using only hyperreal arithmetic and Riemann sum, probably the most elementary derivation thus far.


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