Binomial Models in FinanceThis book describes the modelling of prices of ? nancial assets in a simple d crete time, discrete state, binomial framework. By avoiding the mathematical technicalitiesofcontinuoustime? nancewehopewehavemadethematerial accessible to a wide audience. Some of the developments and formulae appear here for the ? rst time in book form. We hope our book will appeal to various audiences. These include MBA s dents, upperlevelundergraduatestudents,