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Finance and energy markets have been an active scientific field for some time, even though the development and applications of sophisticated quantitative methods in these areas are relatively new—and referred to in a broader context as energy finance. Energy finance is often viewed as a branch of mathematical finance, yet this area continues to provide a rich source of issues that are fuelling new and exciting research developments. Based on a special thematic year at the Wolfgang Pauli Institute (WPI) in Vienna, Austria, this edited collection features cutting-edge research from leading scientists in the fields of energy and commodity finance. Topics discussed include modeling and analysis of energy and commodity markets, derivatives hedging and pricing, and optimal investment strategies and modeling of emerging markets, such as power and emissions. The book also confronts the challenges one faces in energy markets from a quantitative point of view, as well as the recent advances in solving these problems using advanced mathematical, statistical and numerical methods. By addressing the emerging area of quantitative energy finance, this volume will serve as a valuable resource for graduate-level students and researchers studying financial mathematics, risk management, or energy finance.

Electric utilities --- Electric companies --- Electric light and power industry --- Electric power industry --- Rates --- Mathematical models. --- Risk management -- Mathematical models. --- Finance. --- Energy policy. --- Energy and state. --- Economics, Mathematical. --- Statistics. --- Finance, general. --- Quantitative Finance. --- Statistics for Business/Economics/Mathematical Finance/Insurance. --- Energy Policy, Economics and Management. --- Electric industries --- Energy industries --- Public utilities --- Statistics for Business, Management, Economics, Finance, Insurance. --- Funding --- Funds --- Economics --- Currency question --- Statistical analysis --- Statistical data --- Statistical methods --- Statistical science --- Mathematics --- Econometrics --- Economics, Mathematical . --- Statistics . --- Mathematical economics --- Energy and state --- Power resources --- State and energy --- Industrial policy --- Energy conservation --- Methodology --- Government policy

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The current volume presents four chapters touching on some of the most important and modern areas of research in Mathematical Finance: asset price bubbles (by Philip Protter); energy markets (by Fred Espen Benth); investment under transaction costs (by Paolo Guasoni and Johannes Muhle-Karbe); and numerical methods for solving stochastic equations (by Dan Crisan, K. Manolarakis and C. Nee).The Paris-Princeton Lecture Notes on Mathematical Finance, of which this is the fifth volume, publish cutting-edge research in self-contained, expository articles from renowned specialists. The aim is to produce a series of articles that can serve as an introductory reference source for research in the field.

Business & Economics --- Mathematics --- Physical Sciences & Mathematics --- Algebra --- Economic Theory --- Mathematics. --- Economics, Mathematical. --- Quantitative Finance. --- Financial Economics. --- Business mathematics --- Arithmetic, Commercial --- Business --- Business arithmetic --- Business math --- Commercial arithmetic --- Finance --- Finance. --- Organizational Studies, Economic Sociology. --- Funding --- Funds --- Economics --- Currency question --- Economics, Mathematical . --- Economic sociology. --- Economic sociology --- Socio-economics --- Socioeconomics --- Sociology of economics --- Sociology --- Mathematical economics --- Econometrics --- Social aspects --- Methodology --- Sociological aspects.