Modelling Illiquid Stocks Using Quantum Stochastic Calculus

Discounts on Illiquid Stocks: Evidence from China

This paper provides evidence on the significant impact of illiquidity or non-marketability on security valuation. A typical listed company in China has several types of share outstanding: (i) common shares that are only tradable on stock exchanges, (ii) restricted institutional shares (RIS) that are not tradable and can only be transferred privately or through irregularly scheduled auctions, an...

Quantum Stochastic Calculus

Detereministic classical dynamics, reversible quantum dynamics in the Schrr odinger-Heinsenberg pictures and irreversible dynamics of diiusion processes driven by Brownian motion admitìnnnitesimal' or`diierential' descriptions which can be expressed in terms of derivations of * algebras. One of the central aims of quantum stochastic calculus is to unify all these and explore for similar algebra...

Quantum Stochastic Calculus and Quantum Nonlinear Filtering

A ?–algebraic inde…nite structure of quantum stochastic (QS) calculus is introduced and a continuity property of generalized nonadapted QS integrals is proved under the natural integrability conditions in an in…nitely dimensional nuclear space. The class of nondemolition output QS processes in quantum open systems is characterized in terms of the QS calculus, and the problem of QS nonlinear …lt...

Feynman Diagrams and the Quantum Stochastic Calculus

We present quantum stochastic calculus in terms of diagrams taking weights in the algebra of observables of some quantum system. In particular, we note the absence of non-time-consecutive Goldstone diagrams. We review recent results in Markovian limits in these terms. AMS Classification: 81S25, 81T18

Photoemissive Sources and Quantum Stochastic Calculus