#robert scholes

[power-chords]

One of the great problems in the theory of fiction from Aristotle to Auerbach has been the relationship between fictional art and life: the problem of mimesis. The formalist approach to this problem, far from being a lapse into pure aestheticism, or a denial of the mimetic component in fiction, is an attempt to discover exactly what verbal art does to life and for life. This is most apparent in Victor Shklovsky's concept of defamiliarization. Shklovsky's concept is grounded in a theory of perception that is essentially Gestaltist. (And behind the Gestalt psychologists are the Romantic poets and philosophers. In the English tradition, there are passages in Coleridge's Biographia Literaria and Shelley's Defense of Poetry which clearly anticipate Shklovsky's formulation, as we shall see in chapter 6.A, below.) “As perception becomes habitual," Shklovsky notes, “it becomes automatic." And he adds, “We see the obiect as though it were enveloped in a sack. We know what it is by its configuration, but we see only its silhouette." In considering a passage from Tolstoy's Diary, Shklovsky reaches the following conclusion:

Habitualization devours objects, clothes, furniture, one's wife, and the fear of war. "If all the complex lives of many people go on unconsciously, then such lives are as if they had never been."

Art exists to help us recover the sensation of life; it exists to make us feel things, to make the stone stony. The end of art is to give a sensation of the object as seen, not as recognized. The technique of art is to make things "unfamiliar," to make forms obscure, so as to increase the difficulty and the duration of perception. The act of perception in art is an end a itself and must be prolonged. In art, it is our experience of the process of construction that counts, not the finished product.

Shklovsky goes on to illustrate the technique of defamiliarization extensively from the works of Tolstoy, showing us how Tolstoy, by using the point of view of a peasant, or even an animal, can make the familiar seem strange, so that we see it again. Defamiliarization is not only a fundamental technique of mimetic art, it is its principal justification as well. In fiction, defamiliarization is achieved through point of view and through style, of course, but it is also accomplished by plotting itself. Plot, by rearranging events of story, defamiliarizes them and opens them to perception. And because art itself exists in time, the specific devices of defamiliarization themselves succumb to habit and become conventions which finally obscure the very objects and events they were invented to display. Thus there can be no permanently "realistic" technique. Ultimately, the artist's reaction to the tyranny of fictional conventions of representation is a parodic one. He will, as Shklovsky says, “lay bare" the conventional techniques by exaggerating them. Thus Shklovsky analyses Tristram Shandy as primarily a work of fiction about fictional technique. Because it focuses on the devices of fiction it is also about modes of perception—about the inter-penetration of art and life. The laying bare of literary devices makes them seem strange and unfamiliar, too, so that we are especially aware of them.

—Robert Scholes, Structuralism in Literature: An Introduction, 1974.

[kimyoonmiauthor]

Literary theorists being AHs to women and PoCs

‘cause if I have to suffer, then you should also know how much of an AH these people are, so you can examine if their theories are even worth believing or if you SHOULD pay attention to their blind spots instead of saying it’s irrelevant to literary discussion. Personally, I think the fact they are unwilling to mention PoCs, particularly Black people and willing to actively dump on women is very relevant to current academic discourse. You can’t ignore Kant’s views on women, and see that the majority of the people who won in the end were people who showed hatred towards women.

Robert Scholes being an AH, Page 26-page 28 (Hilarious, but also homophobic and misogynistic) For context, EM Forster is gay, which makes this really homophobic.

Picture credit: https://www.brownalumnimagazine.com/articles/2017-03-03/memories-of-bob-scholes

‘Cause you see folks, the only decent writers in the world are men, cishet men. (notice the sharp sarcasm here).

E.M. Forster on Gertrude Stein (From Aspects of a Novel, a series of lectures he gave)

Credit: Getty Images https://encrypted-tbn0.gstatic.com/licensed-image?q=tbn:ANd9GcSjNW-FA-n5bkXFk2MFmMGMcBy1SJtQj185hrMceQN_8rK2L-6f2cu7Ct-PooBt8M6Mt7ffTDt5SPHpj00

https://www.gutenberg.org/cache/epub/70492/pg70492-images.html

Granted, a Modernist (and gay himself, openly so at the time he gave this lecture), but still, the dumping on Gertrude Stein seems to be a tradition that extends to other people afterwards (Rowe did it sideways, Lajos Egri, directly). Seriously? Dump on the lesbian Jew trying to encourage ways to describe TRAUMA. OMG, we shouldn’t talk about trauma.

But I disagree heartily--we have entire story structures devoted to dreams that play with sense of time and reality *because* of Gertrude Stein. I mean, how could you conceivably get Inception without Gertrude Stein’s theories of how to move language and time? Besides that, you have Dream Diaries (Japanese), Dream Record (First Chinese then Korean--not imported into Japan because there was a war), and then the whole of Dream Time from Aboriginals which predate her. Non-linear storytelling has and can work--but you need thematic plotting to be stronger and tone plotting to really be tight (pacing helps, but isn’t as critical as the other two). Thank the Modernists for the European white version. I mean, Magic realism, anyone???

If you want to find ways to break linear time and describe trauma itself, and the feeling of missing time--Modernists are your best bet to find techniques to get you there. (Kinda Post Modernists, though I resent the focus on readers a lot--I heartily disagree, BTW, that Structuralists and Post Modernists are the same thing... as argued in this paper here: https://www.sciencedirect.com/science/article/abs/pii/B0080430767039516. 

Post Modernists tried to find further ways to break the rules and structure by bending to the reader. 

Structuralists tried to impose a bunch of rules and binary. Like say, the panopticon and prison system/School system. There’s rigidity everywhere with Structuralists and Eurocentricism.) Or as the Raw and Cooked put it, a binary of acceptable and unacceptable, when some cultures don’t work off the Bible. So I think this paper here: https://www.sciencedirect.com/science/article/abs/pii/B0080430767039516

is more likely.

John Gardner, The Art of Fiction for Young Writers, published 1983

Picture credit: https://blog.bookstellyouwhy.com/john-gardner-and-the-art-of-fiction

No one is surprised that its all men mentioned, right? 

But what makes ignoramuses bad writers is not just their inexperience in fair argument. All great writing is in a sense imitation of great writing. Writing a novel, however innovative that novel may be, the writer struggles to achieve one specific large effect, what can only be called the effect we are used to getting from good novels. However weird the technique, whatever the novel’s mode, we say when we have finished it, “Now that is a novel!” We say it of Anna Karenina and of Under the Volcano, also of the mysteriously constructed Moby-Dick. If we say it of Samuel Beckett’s Watt or Malone Dies, of Italo Calvino’s The Baron in the Trees, or Kobo Abe’s The Ruined Map, we say it because, for all their surface oddity, those novels produce the familiar effect. It rarely happens, if it happens at all, that a writer can achieve effects much larger than the effects achieved in books he has read and admired. Human beings, like chimpanzees, can do very little without models. One may learn to love Shakespeare by reading him on one’s own—the ignoramus is unlikely to have done even this—but there is no substitute for being taken by the hand and guided line by line through Othello, Hamlet, or King Lear. This is the work of the university Shakespeare course, and even if the teacher is a person of limited intelligence and sensitivity, one can find in universities the critical books and articles most likely to be helpful, the books that have held up, and the best of the new books. Outside the university’s selective process, one hardly knows which way to turn. One ends up with some crank book on how Shakespeare was really an atheist, or a Communist, or a pen-name used by Francis Bacon. Outside the university it seems practically impossible to come to an understanding of Homer or Vergil, Chaucer or Dante, any of the great masters who, properly understood, provide the highest models yet achieved by our civilization. Whatever his genius, the writer unfamiliar with the highest effects possible is virtually doomed to search out lesser effects.

Gardner, John (2010-05-20T23:58:59.000). The Art of Fiction . Knopf Doubleday Publishing Group. Kindle Edition.

OMG, give this guy a prize, he managed to mention a Japanese man Kobo Abe. /s https://literariness.org/2019/04/15/analysis-of-kobo-abes-novels/ But then fails to mention the names of the authors of some of the novels he’s talking about (I’m literally begging Writer’s Digest, Knopf, etc to force these people to give better citations)

The closest he gets to noting a Black person is noting American Jazz on the page where Chapter 2 starts, and then fails to mention Jazz musicians. No, I’m serious. What makes a person an AH? The inability to mention a single work in 1983 by a female author?

Though the fact is not always obvious at a glance when we look at works of art very close to us in time, the artist’s primary unit of thought—his primary conscious or unconscious basis for selecting and organizing the details of his work—is genre. This is perhaps most obvious in the case of music. A composer writes an opera, a symphony, a concerto, a tone poem, a suite of country dances, a song cycle, a set of variations, or a stream-of-consciousness piece (a modern psychological adaptation of the tone poem). Whatever genre he chooses, and to some extent depending on which genre he chooses, he writes within, or slightly varies, traditional structures—sonata form, fugal structure, ABCBA melodic structure, and so forth; or he may create, on what he believes to be some firm basis, a new structure. He may cross genres, introducing country dances into a symphony or, say, constructing a string quartet on the principle of theme and variations. If he’s looking for novelty (seldom for any more noble reason), he may try to borrow structure from some other art, using film, theatrical movement, or something else. When new forms arise, as they do from time to time, they rise out of one of two processes, genre-crossing or the elevation of popular culture. Thus Ravel, Gershwin, Stravinsky, and many others blend classical tradition and American jazz—in this case simultaneously crossing genres and elevating the popular. Occasionally in music as in the other arts, elevating popular culture must be extended to mean recycling trash. Electronic music began in the observation that the beeps and boings that come out of radios, computers, and the like might sound a little like music if structure were imposed—rhythm and something like melody. Anything, in fact—as the Dadaists, Spike Jones, and John Cage pointed out—might be turned into something like music: the scream of a truck-tire, the noise of a windowshade, the bleating of a sheep.

Gardner, John (2010-05-20T23:58:59.000). The Art of Fiction . Knopf Doubleday Publishing Group. Kindle Edition.

Iunno, is it glaring to you? It’s glaring to me. Avoid talking about Black people challenge. I can name at least a few off the top of my head. Dizzy Gillespie? Billie Holiday? Ella Fitzgerald? And then he mentions white people before then? I’m groaning.

And that’s the thing, particularly about Black authors/Black people, they are either not mentioned by name, but their work is--WTF, or totally skipped, probably because the whole of Black literature goes against these white men’s structuralism, and postulations. On one hand, I’m glad they left them alone, but on the other, the saying this is the only way, while glaringly missing the obvious really is sickening.

As for dumping on women--well... should we go back to Aristotle being an ass and starting the whole anti-choice campaigns because somehow Aristotle is Jesus, even though Jesus didn’t say anything about Ensoulment at conception? And then indoctrinated white women trying to rescue Aristotle from taking the axe because all of his scientific ideas were wrong? (Just axe him--he was popular with the Victorians for a reason--he was a misogynistic asshole and that reinforced their worldview very well.) (And if you think I don’t have references for the anti-choice statement... oh wait for it... I so have it)

https://en.wikipedia.org/wiki/Ensoulment Wikipedia, but I found scholarly articles too--not sure you want to be buried with that. Aristotle is not Jesus. !@#$ And Aristotle thought women got their soul later than men, because, as I said, royal asshole, to the point I want to do a whole long rant about how much of an irrelevant ah he was.

[freshmandarin]

"It is because reality cannot be recorded that realism is dead. All writing, all composition, is construction. We do not imitate the world, we construct versions of it. There is no mimesis, only poesis."

– Robert Scholes, in a radical critique of mimesis

[andhaveapleasanttomorrow]

[banffcentrelibraryandarchives]

ARTIST BOOK DISPLAY APRIL 2024

Chinthe Child. Sai Yang-Smith. [Banff] : Banff Centre, 2021.

Undergrowth. Sunny Nestler. [Vancouver, BC] : Sunny Nestler, 2018.

How the Goose Learned to Fly. Mikel Horl. [London] : M. Horl, 1984.

Four Portraits. Illustrations by Laura Ritland and Ruth Daniell. [Saskatoon, SK] : Jack Pine Press, 2016.

Symbol Magazine Vol. 3. Anna Kustera, Robert Longo. [New York, NY] : 2 Positiv-e-Force, 1987.

MOLAF Variations. Andrew Taggart, Chloe Lewis. [Montreal] : Museum of Longing and Failure, 2015.

Petite Enveloppe Urbaine No. 21. Francois Ares, Douglas Scholes. [Montreal] : Centre de Recherche Urbaine de Montréal, 1998.

13. Ashok Mathur. [Banff] : Banff Centre, 2022.

Dappled Things. Poems by Robin Chapman ; Photogravures by Peter Miller. [Alfortville, France] : Revue K, 2013.

[whatdoesshedotothem]

Tuesday 5.. March 1839

7 40

2 ½

cousin came just after breakfast 35 minutes with A- before dressing – finish dullish cold wind-whistling morning F37° inside and 33° outside at 9 a.m. breakfast at 9 20 in ½ hour – read a few pages and made  a little note or 2 before breakfast – afterwards with Robert Mann + 2 at the top terrace, and set him to lengthen the temporary flag in front of the house with Robert the joiner ordering about door into Johns’ pantry to 2ft. 8in. broad and 6ft. 3in. high – then had Booth – charged him to see that Mark Hepworth understood that he was bringing the stuff from St. Annes’ street Northgate by the cube yard – the glazier (Firths’ man) here mending windows – putting a new tap on the kitchen pipe and removing the once-intended housemaid closet (little field reservoir) water pipe – to come again on Thursday to fix it in another place – about 11 or afterwards had Messrs. Holt and Garforth – the latter had examined the drum of the steam engine – he said it will not do as it is – it wants the small shaft taking out, and making smaller so as to work easily in its place – and the thread at the end wants to be coarser so as to throw it in and out of geer quicker – G- would do all the above work, being all that is required, in 2 days, supposing the screw to be made which would take one day in making – that is, G- would do the whole in 3 days for the sum of two pounds – asked him how much he thought the engine-business would cost more than it ought to have done – he asked £300 – I turned to Holt and said I laid that to him he ought not to have let it been so – he said, it was somebody elses’ fault (SW.’s) not his (Holts’) – he could not help it – I merely said, if I got off for £300, it was as little as I expected – on talking the matter over I said as G- would answer for setting the drum right in 3 days, I could want that time longer – after waiting – (been delayed) 6 months 3 days longer did not signify much and the Scotch engineer deserved no better from us than to let him fail again – so Holt to leave the drum to its fate, and merely let the Low moor people know to fit up the boiler with the extra piping required so that that might be ready when the cylinder arrived – Holt and Garforth and if possible Mr. Harper to be here to see the engine tried – Holt said he never was in such a place in his life as A-‘s Hinscliffes-pit – a throwdown of 5d. or 15? yards – wondered how they got the coal – ½ acre of Hannah Walkers’ coal to get – would consider a few days about the value of the remainder of the coal A- has to get – unlet – to stick up to the present price £200 to see what Hinscliffe really would give – but he would hardly give (Holt thought) so much as £150 per acre – mentioned to Holt Mark Hepworth having told me on Saturday that Speight of Scholes would come forward to prove that he had helped to get and measure the Hinscliffes’ father and Walsh and co. stole from my uncle – Holt to take Mark Hepworth with him and go over to Speight and inquire into the matter – Thomas Pearson killed one of the pigs this morning – the horses ordered for 2pm. and came about that time – but I was with Robert the joiner in the tower cellar cutting away part of the bottle crate opposite the door, and moving the lead pipe – dressed – off with A- in the carriage to Heath at (near) 3 – about an hour there – went with A- she going there to see Mr. Wilkinson and tell him her wish to give up the Sunday schools’ at midsummer – Mr. Wilkinson not at home – gone to Huddersfield on the surrogate business it being the 1st Tuesday in the month – Miss Wilkinson and Mr. and Mrs. Fenton received us – the latter at the gate, and turned back with us – Miss W- nervous and sorry at A-‘s giving up the schools’ but much obliged and behaved very well seeming very anxious to settle matters to the satisfaction of his fathers’ parishioners – Mr. and Mrs. Fenton, too, very civil etc. etc. but it struck me that he was neither sorry nor surprised at A-‘s giving up – from incidental conversation I should think Mr. F- a supporter at heart of the Oxford Tract men, and .:. not anti Roman Catholic – he maintained that there were no conversions - the Roman Catholics opened their purses to build chapels but the congregations were Irish – no conversion – F- had 300 or 400 in his late parish (Ilkley) never preached against them – no conversions there  unless there was a farm to let or something of that kind – (Mr. Middleton the squire there an influential Roman Catholic) – when I mentioned the tract-men, and asked what could be thought of them, F- made no answer – suspicious silence! I am heartily glad A- has at last mustered up resolution to get rid of these schools in creditable time – before any hint, clerical or otherwise, that better management than hers might be attained – from Heath to Mr. Parkers’ – had P- in the carriage – Sunday little business of A-‘s; and I mentioned the Hinscliffe coal-trespass – P- says we must file a bill in chancery – has heard of the Manns’ business with Mr. Freeman – Report says the Manns are worth a thousand pounds – Robert told me this morning Mr. Alexander had had a letter from Mr. Higham purporting that F- would let them off on paying £50 – if not would proceed against them – from Mr. Parkers’ to Whitleys’ – ordered Wilds’ map of Asia minor – then to Nicholsons’ but did not get out of the carriage – home at 5 ½ - Robert had lengthened out the flagging way in front of the house (with old causeway stones) to within 4 or 5 yards of the terrace wall – A- and I walked there till after 6 – then about in the house – dressed – dinner at 7 – A- read French in the dining room – coffee – asleep – read the newspaper till 10 – then wrote all the above of today till now 11 ½ pm finish dullish day – came upstairs at 11 50 at which hour F37 ½° inside and 31° outside – above ½ hour with A- left her at 1 5 – then sewing up a napkin for cousin  till two and twenty five minutes

[veronicaglass]

The unloved file.

Or the ugly duck of wikimedia commons for a moment.

Yeah!This is the start of the workshop season. 

Crescent Moon and ash. 

Moon crescent with earthshine: 

The bright region is directly illuminated by the sun, while the rest of the Moon is illuminated by light reflected from Earth. 

What happened when I did a research?

That's what I'm going to explain.

A significant number of months have passed. So at the time of writing this text, I am extremely clumsy because it is a huge step forward in many areas and it is a bit overwhelming (in a good way) so i have to understand the moves to be made ( I could compare to this if someone had seen / it's so close to what )

A philosophical theory or philosophical position is a view that attempts to explain or account for a particular problem in philosophy

The use of the term "theory" is a statement of colloquial English and not reflective of the term theory.

While any sort of thesis or opinion may be termed a position, in analytic philosophy it is thought best to reserve the word "theory" for systematic, comprehensive attempts to solve problems.

To try to explain my project, I will base myself on a remix with the term METAFICTION

It is the explanatory literary version that will take on its full meaning.

Metafiction is a form of fiction which emphasizes its own constructedness in a way that continually reminds the audience to be aware they are reading or viewing a fictional work.

This is self-conscious about language, literary form, and story-telling, and works of metafiction directly or indirectly draw attention to their status as artifacts and it is frequently used as a form of parody or a tool to undermine literary conventions and explore the relationship between literature and reality, life, and art.

The term 'metafiction' was coined in 1970 by William H. Gass in his book Fiction and the Figures of Life and, he describes the increasing use of metafiction at the time as a result of authors developing a better understanding of the medium.

This new understanding of the medium led to a major change in the approach toward fiction.

Theoretical issues became more prominent aspects, resulting in an increased self-reflexivity and formal uncertainty.

Robert Scholes expands upon Gass' theory and identifies four forms of criticism on fiction, which he refers to as formal, behavioral, structural, and philosophical criticism. Metafiction assimilates these perspectives into the fictional process, putting emphasis on one or more of these aspects.

Mini poster used to illustrate my abstract during the Educational Psychology and Astronomy for Mental health and Wellbeing training.

From 19 to 20 May 2022

My learnings was first, strange and very complicated, but what I can write about it is that you have to aim for the Moon: the Moon will be the best celestial object.  

To follow.

Ps: top Image is one of several taken on a Moon vhs catching.

(so not the same like more under)

Ash light 2

[idea-seeker77]

The Arsenal Empire - Premier League's Best Team Ever

Arsenal enjoyed a winning season during which the title was changed 29 times. This was thanks to a team which performed extremely well. Yorke and Cole scored the most goals. Sheringham and Beckham were also involved in the attack. Wenger continued the tradition Graham set, by maintaining the tradition of perfection in defense within the club. Dixon and Winterburn made excellent fullbacks, while Freddie Ljungberg provided speed on either side. 1. The Invincibles For many English football fans, the Invincibles were the most successful team that the league has ever seen. Except for a small blip near the end of the season when they lost at Liverpool, Arsenal went the whole season without losing the Premier League. This is an amazing feat that none of the clubs in the Premier League has been able replicate since. Arsene Wenger's team was led by Thierry Henry, whose speed and trickery made him difficult for opponents to contain. He was aided by players like Robert Pires who clocked up 14 league goals and also contributed more than double the assists. They were well-organized by Fabien Barthez who was an integral member of the defense. Apart from a few blips against Manchester United, The Invincibles were unbeatable throughout the season. 2. The Double In English football, a national double is a special accomplishment. It is among the most impressive achievements teams can accomplish. The traditional English Double is a combination of Premier League and FA Cup wins. Since the Premier League began in 1992/93, only three teams have had the official feat of a double. A few teams have racked up something that could be classified as unofficial doubles when they have won both the League Cup and the Champions League. The days of a team that could battle on three fronts have long gone. This is the reason that the Arsenal team that was in 1997/98 was so successful. Thierry Henry was on top form, Dwight Yorke was on the move and Andy Cole was also in top form thanks to the support from Ryan Giggs. 3. The Champions League The UEFA Champions League has the highest level of prestige among club competitions in Europe. It has been contested by champions and runners-up in the biggest national leagues since 1999/00. This season, Manchester United swaggered past Arsenal to claim the title with a ten-point advantage over their rivals. Teddy Sheringham, Andy Cole, Dwight Yorke, Solskjaer, Beckham and Scholes all scored more than eight goals as the Red Devils dominated home and away.

The title was secure after nine months and they won only five matches all season. Roy Keane starred as a formidable defensive rock and Jaap Stam anchored the midfield. The only team in the world that scored over 90 points in a single season is this. It's an incredible feat. However, they're not the greatest team in history. 4. The FA Cup The FA Cup is the oldest competition in English football. The FA Cup is a knockout event in which teams from Premier League and lower enter at different stages. The teams from lower leagues receive the privilege to play their games in front of their home supporters rather than in neutral stadiums. Few things enthral an English enthusiast more than seeing a team of the lower division defeating a top-flight outfit in their backyard. Although the cliches are old news, but the match still has a genuine authenticity that makes every upset resonate throughout the world of football. The FA Cup will forever hold an indelible place in the minds and hearts of football enthusiasts. 5. The Unbeatables It is amazing that Arsenal was able to remain unbeaten throughout the entire 2003-04 season, in an era where commercialism as well as money are a growing concern. The team consisted of Patrick Vieira and Gilberto Silva, Nigel Winterburn and Sol Campbell in the defensive back four, as well as Freddie Ljungberg Robert Pires, Dennis Bergkamp and a midfield comprising Freddie Ljungberg Robert Pires. It's not a good idea to place Cole eighth, but he was one of the most valuable members of this near-flawless team. His goal against Portsmouth in their final game of the season is why he's in the top eight. Create your ultimate Arsenal XI using our team selection tool. Video embed from YouTube

[twinkl22004]

Ian Stewart, “In Pursuit of the Unknown: 17 Equations that Changed the World”, 2012, PART TWO (2).

  Ian Stewart, “In Pursuit of the Unknown: 17 Equations that Changed the World”, 2012 was the topic of an earlier blog post. Here I present: Ian Stewart, “In Pursuit of the Unknown: 17 Equations that Changed the World”, 2012, PART TWO (2). The “Black-Scholes-Merton” equation is the topic of this blog.  In 1997 the Economics Nobel Prize lectures were given by Myron Scholes & Robert Merton. Myron…

[harbourfronttechnologies]

A Utility-based Option Pricing Model

The Black-Scholes option pricing model is a widely used mathematical formula for calculating the theoretical value of European-style options. Developed by economists Fischer Black, Myron Scholes, and Robert Merton in 1973, the model takes into account various factors such as the current stock price, strike price, time to expiration, risk-free interest rate, and volatility of the underlying asset. By considering these inputs, the Black-Scholes model provides the fair value of an option, allowing investors and traders to make informed decisions regarding options trading strategies. While the model assumes certain assumptions, such as efficient markets and constant volatility, it has served as a foundational tool for options pricing and has greatly contributed to the understanding of derivatives markets.

Despite its widespread use and usefulness in options pricing, the Black-Scholes model has certain limitations. One of these limitations is its inability to fully account for phenomena such as volatility skew, term structure, and volatility risk premium. These factors introduce complexities and nuances that the Black-Scholes model does not explicitly incorporate.

Reference [1] introduces a novel option pricing model grounded in utility theory, providing an alternative approach that addresses the limitations of the Black-Scholes model. This proposed model takes into consideration factors such as investor preferences, risk aversion, and market dynamics to explain phenomena like volatility skew and volatility risk premium.  The authors pointed out,

Preference-free option pricing models can account for the smirk shape and term structure pattern of implied volatility. Still, they are unable to explain the existence of volatility and skewness risk premia. On the other hand, utility-based option pricing models can produce these two risk premia assuming that investors adhere to the conventional utility function in Prospect Theory, which entails a subjective distortion of objective probabilities…

Our main finding is that loss aversion alone can explain all stylized facts of implied volatility and produce substantial volatility and skewness risk premia even when stock returns follow a normal distribution. The economic explanation for this finding is as follows. Loss-averse investors are more concerned about the possibility of losing money rather than the potential for significant gains. As a result, loss-averse investors tend to buy put options that serve as portfolio insurance. Their strong desire to protect their initial investment capital increases the demand for put options. Because of this, the equilibrium put option price is higher than the theoretical Black-Scholes price and this discrepancy is reflected in a negative volatility risk premium.

In short, by incorporating utility theory, the model offers a framework that better captures the complexities of option pricing and provides a more accurate representation of market conditions. This research contributes to the ongoing development of option pricing models and expands our understanding of the factors that influence option prices in real-world scenarios.

Let us know what you think in the comments below or in the discussion forum.

References

[1] Zakamulin, Valeriy, Can Loss Aversion Explain the Stylized Facts of Implied Volatility? 2023). https://ift.tt/8odEKZF

Article Source Here: A Utility-based Option Pricing Model

from Harbourfront Technologies - Feed https://ift.tt/jFV6mXd

[kimyoonmiauthor]

The Lie: You can only make a story around character or events nothing else~~

USian Lit professors ruining writers again and World Lit with it. This isn’t one of those posts where I say, “If you start with character or events you’re wrong.” It’s about my core philosophy OPTIONS~~~ Options. The ones that everyone railed against after the 20th century and people turn their noses up at because, ya know, questioning status quo as PoCs, Women, queer people, disabled people–i.e. the majority of the writers and readers when you put the market together, yet somehow the publishing industry doesn’t want to cater to us... were told flat out if we do it, we’re being snobby, Literary, or Ohhh... insurrectionists. (Or whatever, mostly called “inferior”) And if you don’t believe me, go read Robert Scholes’ writing book where he thinks that only white straight men can write... (OK, maybe I’ve read too many of these bozos.)

My exact problem is being told we’re wrong for doing it another way. And that this way is too snobby, when it’s probably one of the oldest methods in the history of literature. So strap in, let’s get into it.

I get it, some people are going to act like victims at this point and say are you saying that it’s wrong? Or even, what do you mean this method was invented by a bunch of prejudiced white men who often tried to take credit from less privileged people? I cover that in the other series of posts so you a see how we got here (and I warn you I found it super depressing. Especially slapped with blatant racism, sexism, anti-queerness, etc.)

What I think is you can accept the origin story of where “It’s either events or character” comes from (Great Man Theory, BTW, which is imperialistic), delve and QUESTION it heavily, and then challenge the origin more deeply by thinking about it critically and how you would like to overcome that and make their story.

Questioning what’s handed to you critically is the whole point of the Worldbuilding and Worldwide Story Structures post. Doesn’t say it is wrong. It just gives you more options to think about and engage in.

Morals

Honestly, when it has the answers and is reinforcing the status quo, rather than questioning it, it is often boring.

Pros: It engages directly one of the two tenants (when done well), Makes people think. The secondary is then makes them feel.

Cons: When done badly, it can feel preachy, rather than introspective. And people often hate their morals being questioned so may refuse to engage. It’s also prone to getting banned.

Authors who stated they use this: Ursula Le Guin (Who gets hated by Structuralists)

Toni Morrison (Who said so on Charlie Rose--why would you think it’s conflict?)

Star Trek... most of it.

Some of the early writers of Star Wars.

A lot of Sci-fi writers including Octavia Butler.

A Tree with Deep Roots (K-drama) also engages in this.

As a secondary, Outlander often asks questions about Morality (Diana Gabaldon)

Making a story around this would look like finding a central moral question and then breaking that moral question into parts and then finding characters and events to address those parts.

You start from the widest point down and deliberately make it so.

Ways to Live

More common with Indigenous Peoples of N&C&S Americas, not all tribes/nations of course. And particularly with Plains tribes such as Zuni. Also common to Aboriginal people. A tad bit to some Polynesians, and parts of Africa (scattered)

Pros: When done well it makes you ponder on it for days, because often there is a central value, which is not a moral, and you’re turning it over in your head over and over again.

Cons: You have to craft the story very, very carefully, and it may take some time before you get it to land just right. This may not go over well for people who improvise their writing. Because when the story is well put together it suddenly has this clicking feel to it which is difficult to achieve.

Also kinda better for shorter stories (or I’ve never seen it done in novels yet--if you have one, drop it in the comments please~~) and made up folktales...

Themes

Thematic plotting is where you take a central theme and then kind of snowflake it out from that, similar to morality plotting. Often thematic plotting and morality plotting has overlap, meaning they often are done together.

But a theme can be anything like fairies, divorce, marriage, disability, etc. And then you’d break it down for each of the parts and figure out how to represent that through character and events.

So, let’s say your central theme is disability. You might break off Neurodiversity and put that to the side and ask if it is a disability. Then you might want to find someone to represent that and the views about it.

You might also then take someone who is a wheelchair user and then decide you need a character for that.

But you also may want someone who is in a walker.

Then you might decide that you need someone who is disabled, but doesn’t “look” disabled.

Then you might think about what does disability mean for each of them and how are you going to address disability rights in your story. So say the Neurodiverse person you’ve made has Sensory Processing Disorder. You might ask, “Is this really a disability?” And about ableism and disablism. From that, you might formulate an event to demonstrate this.

You can also do it from events. So for example, you think that a disability rights rally about X issue is needed to show the different views. But overall, it always loops back to the theme.

Pros: Engages the reader to think, primarily. Feel is kind of second on the list, if the theme is teased out well and focused. Generally the ones that do well are philosophical and delve deeper on an idea. Say motherhood. What does it mean to be a parent. Something with an endless well to talk about that interests the author. I love theme babies and when done well it can do things like make you cry over a damned potato. Or even rocks on a cliff. Damn you both. I’m tearing up thinking about it. WHY!? Why am I crying about rocks with googly eyes with text on the screen?

Cons: Themes that don’t grow beyond the base idea often feel stagnant. It’s better to let your themes evolve over the course of the story. If you choose a theme you don’t have a lot of ideas on it can feel too sparse. And if you over pack it without any kind of organization, it can feel chaotic, rather than organized.

Generally people who use milestones--or set out event points in the road do better with this one. Pure improvisers tend to dislike this, though it can work if you’re sure you can hit the points in an organized fashion.

Authors: 

Divorce Testimony by Na Hyeseok (Theme is divorce and marriage, and a memoir)

Hong Sisters (especially Greatest Love. Crying over a potato...)

Everything Everywhere All at Once (Primarily theme first, then tone).

Tone

I have to say Japan does it best... but I’ve also seen tonal theming from Indigenous peoples, Magic Realism, as a secondary on other East Asian drama regions, in Horror, as a secondary in some African Lit and West Asian Lit. It is really difficult to nail if you start with character+event. And honestly USians, in particular, have a really hard time nailing tone, in general.

Pros: Emotions come first and hits you directly in the feels first, which might make you reel in your head for quite a while. It’s much, much harder to guess plot points from the outside looking in. The bubble effect I refer to often in Japanese dramas which makes me envious is much easier to achieve. Because tone takes a while to develop over the course of the story, guessing ahead becomes near to impossible. You don’t know what the final effect will be until it hits you square between the eyes. And then the emotions are overloaded, when done well.

Cons: Tone takes a while to develop. It often dies a quiet death because of the whole “I NEED EVERYTHING ON PAGE ONE” mentality from US pressuring other regions to do the same. It does not work well with impatient people. Also, it takes a high amount of skill to do well, and usually command of tone on all levels is a last, not first skill for writers of all regions. Hitting people in the feels the same way across the board is HARD. Really hard, which is often why it’s paired with thematic and moral plotting.

Authors: 

Natsume Soseki Botchan is a master class in this.

(Central Story driver)

Sometimes, some regions just go by the central story driver which then dictates the rest of the events and character. Honestly, I think conflict is probably the worst for this because people don’t generally love it. Conflict is not on the list of things that makes things go viral. People LOVE cooperation, for example. But often people will go by a central tenant of the story driver and choose from there. Absurdists might think about ways to subvert the conflict to make a joke.

Other methods

For example, Diana Gabaldon takes pieces from her research, makes a scene from it, and then writes characters around it, and then slowly stitches it together. She started out originally with character, however, the bulk of her writing, according to her is done through research then write method. The downside of this is huge word count since integration is not the first concern.

Some people start with interesting subjects they’ve found such as Guy Gaviriel Kay. He starts with research, then works on integration. Similarly, Ordinary People by Judith Guest was started from a newspaper clipping.

Some authors start with a sharp image, rather than event or character.

Some authors start with setting. Since there are so many parts to “What makes a story” theoretically you can start with any of them. The only thing I would think you really have to think over is how will it hang together.

The point is, while starting with character or event is not wrong, finding other methods to plot might make your story stronger depending on how you command the tools. And let’s not forget that writing is a craft, so why not utilize as much of the toolbox as possible?

[abhishek21]

What Is the Black-Scholes Model?

We have seen the option pricing methods, Black Scholes Option Pricing Model is one among them. So, if you have not read our previous article on option pricing, you can check that here So, what is Black Scholes Option Pricing Model and why is the Black Scholes method Important.

Black Scholes is a method that is used in determining the fair price value of an option.

An option can be a call or put. Black Scholes method takes into consideration six variables to determine the fair price. These six factors are:

Volatility,

Time,

Price of the underlying asset,

Type of option,

Strike price,

Risk-free rate.

There are various methods for option pricing, among them Black- Scholes and Binomial models are widely used.

The Black Scholes method was developed in 1973 because of its effectiveness and accuracy, it is still considered the best way for calculating the theoretical value of an option contract. The black Scholes method was pioneered by Robert C Merton and Myron Scholes.

refer our detailed blog to learn more options strategy

[hawkins-cre]

Applying the Black & Scholes Option Pricing Model to Commercial Real Estate Option Pricing

Applying the Black & Scholes Option Pricing Model to Commercial Real Estate Option Pricing

In the financial markets, option theoretical values are most often calculated using the Black-Sholes model. Developed in 1973 by economists Myron Scholes and Robert C. Merton, this model was introduced to the world in their seminal academic paper, The Pricing of Options and Corporate Liabilities. In my time at Morgan Stanley, where I held the titles of SVP – Investments and Senior Portfolio…

[wiersze668]

Zespół Oświatowy W Stoczku - Klasa VIb

Zamknięty kształt zwoju oznacza, że jego grupa stanowi wyjątkowo czysta i gładka w zderzeniu z watą celulozową. To, że działasz 40 godzin tygodniowo, nie oznacza, że stanowisz w stanie zrobić 80 pomodoro. Tylko potem system stanowi w okresie odróżnić z siebie poszczególne aminokwasy i skorzystać je do określonych celów. Stopniowo dzieci skupiają swoja koncentrację na przestrzeni wokół siebie. Powoli powracam do siebie. Przeglądarka stron WWW Opera posiada również zmieniony ekran szybkiego wybierania (Speed Dial) i wartość schowka odpowiedzialnego za przechowywanie stron WWW do późniejszego odwiedzenia. Nie do przecenienia jest funkcja wychowawcza piłki czy aerobiku w ogóle, bowiem w działaniu, podobnie gdy na boisku i gra nim, bardzo cenna, gdyby nie bezcenna, jest umiejętność przegrywania i powiększania się z choćby najgłębszego upadku po katastrofalnym wyniku - to wszystko treści napisane w chrześcijański przekaz ewangelicznej pokory, które ważne są również w następnych religiach. Przykładem swego istnienia Brat Albert uczył współbraci i współsiostry, że powinien być “mocnym jak chleb”. Tak, na rumuńskich drogach królują dacie, zarówno stare modele, kiedy i nowe dacie logan.

Prace przesłane po określonym czasie wolny podania przyczyny(w razie kłopotów przypominam o kontakt) nie będą traktowane. Zadawane prace proszę przesyłać w określonym terminie. Z obecnego momentu proszę robić się do egzaminu we domowym zakresie. W pozostałych rozdziałach przedstawiono treści szkolenia w zakresie podstawowym oraz rozszerzonym oraz systemy oceniania wiedzy uczniów. Zobaczyliśmy 27-mio metrowy gnomon, który mówi cień, dzięki któremu można odliczyć czas z dokładnością do samej setnej sekundy oraz przeróżne inne ciekawe konstrukcje, służące do obliczania zaćmień, położenia gwiazd oraz faz znaków zodiaku, o których podawaniu nie mamy pojęcia. Jednakże jego idee zostały przez długi faza w zapomnieniu i szybki rozwój tej gałęzie wiedzy przypada tylko na lata 70. XX wieku gdy Robert Merton i Myron Scholes wprowadzili matematyczne modele wyceny arbitrażowej instrumentów finansowych. Argumenty rasowe wzbogaciły koncepcje antysemickie i przesunęły nacisk z argumentacji ekonomicznej oraz społecznej w nauki mgliste, ale nowoczesne i popularne. Meksykańskie nowoczesne podwodne muzeum rzeźb można podziwiać przez szklane dno łódki lub podczas nurkowania. 2. W jednym zdaniu wyraź emocje, jakie prowadziły ci podczas oglądania.

Proszę wykonać ćwiczenia 1, 2 i 3 ze karty 102 z zeszytu ćwiczeń. Zapisz je starannie do zeszytu - najpierw tytuł i autora, następnie badania i odpowiedzi. Podaj skrajne punkty Australii, nazwij ich współrzędne geograficzne a potem oblicz rozciągłość południkową w tytułach. Następnie czytamy wiersz „Szafa” i „Lampka nocna”- podręcznik polonistyczno-społeczny s. 1. Podręcznik str.70-71 - przeczytaj i przeanalizuj. 4. Otwórz przepis na s. Proszę pracujcie systematycznie, budujcie w zeszytach tematy i daty lekcji, uzupełniajcie na bieżąco zeszyty ćwiczeń. Jeżeli spotkamy się w niniejszym roku szkolnym, to doświadczę dokładnie zeszyty przedmiotowe i zeszyty ćwiczeń oraz Waszą wiedzę. Proszę więc, zadbajcie o to, aby zachowały się Wasze zeszyty, zeszyty zadań i repetytorium w pewnym stanie. Możecie grać z repetytorium albo na indywidualnych wygodnych w budów materiałach. Proszę przeczytać temat. Proszę napisać informację z „Zapamiętaj”. Nie, raczej nie. Ludzie, jacy nie są obeznani w problemie rodzimowierstwa czy neopogaństwa właściwie nie są zainteresowani rozmowami na ten temat.

Temat Decyzje bohaterów literackich. Temat 45. Oświecenie i rewolucja francuska. 6. Na podst. filmu lub nowych źródeł sporządź krótką notatkę biograficzną na temat artysty. Materiał do zeszytu: Moje zamiary wakacyjne. Zapis wszelkich wiadomości do pamięci terminali KD robi się automatycznie wraz z zapisem informacjach do małej bazy danych MySQL. Helix - niemiecka firma car audio zaprojektowana przez Heinza Fischera, wraz z klasą Brax chodzi do spółki Audiotec Fischer. 7. Sporządź notatkę o działaniu „ Puszki z zupą firmy Campbell” - wykorzystaj metryczkę. 3. Stwórz w zeszycie notatkę po polsku o metrze w Moskwie. 6. Wykonaj ćwiczenia w zeszycie ćwiczeń na str. Wykonaj jakiekolwiek ćwiczenia gimnastyczne. kartkówka . Przeczytaj tekst s.261 z przepisu i spraw zadania do tego artykułu (oprócz zad. 😉 Ale gra tym, że dziś czwartek, to ciągle same mamy ostatni miesiąc! Środa i czwartek, 29 i 30. 04. 2020 r. Wtorek- 28. 04. 2020 r.

Rozwiązać zadanie 1 ze strony 268 z zakresu A przykład a i g, B- a także c, C- a także c, D- a i c. B- c i d, poziom C przykład a. Podstawy języka arabskiego, pliki mp3 oraz klawiatura arabska. W podaniu powinieneś zwięźle zaprezentować swoje uczucie, osiągnięcia i wiedz - pozostałe informacje przekażesz panującemu w załączonym CV nauczyciela języka angielskiego. Podaj nazwę państwa otrzymującego się na kontynencie australijskim i firmę jego stolicy. Określ położenie geograficzne (półkule, charakterystyczny równoleżnik) i wielkość Australii. Scharakteryzuj linię brzegową Australii. Temat: Utrwalenie pisowni wyrazów z rz i ż. 27.04.2020 Temat: Życiowe wybory - zadania utrwalające. Temat: Moskiewskie metro- lekcja kulturoznawcza. W jakim roku powstało moskiewskie metro ? O ile lat londyńskie metro jest dalsze od moskiewskiego ? 2/str.71 - praca indywidualna - Metro w Stolicy - prezentacja. Ile linii ma metro w Moskwie ? Najgłębsza stacja metra w wypracowanie w Lodnynie ?