Achieving smooth asymptotics for the prices of European options in binomial trees
提出一种新的二叉树近似Black-Scholes模型，证明对数字期权和普通欧式看涨看跌期权，误差存在n-1幂次的完整渐近展开，这是首个被证明存在渐近展开的二叉树。
A new binomial approximation to the Black-Scholes model is introduced. It is shown that, for digital options and vanilla European call and put options, a complete asymptotic expansion of the error in powers of n-1 exists. This is the first binomial tree for which an asymptotic expansion has been shown to exist.