BLACK‐SCHOLES vs. KASSOUF OPTION PRICING: AN EMPIRICAL COMPARISON
比较了布莱克-舒尔斯和卡苏夫两种期权定价模型，通过模拟和实证分析发现两者在实际应用中差异很小，基于任一模型的投资策略回报相近。
This paper presents a comparison of the Black‐Scholes and Kassouf models for the pricing of options. Graphical presentations of simulated call option prices show the effects of changing the different variables on the prices of options. An empirical study using observed option prices shows that there is little practical difference between the values given by the two models, and that an investment strategy based upon using either of the two models would yield about the same return.