asset pricing research

[Zeuge]

What is the state of academic asset pricing research? From what I hear, much of the low-hanging fruit has been picked, and there is not too much for new researchers to contribute. What kind of academic job market do those pursuing a PhD in Math Finance face?

 

[quotes]

Bessel Process and Variance-Gamma ?

There are alternative models than Black-Scholes, and it is challenging even today to construct and to calibrate them in financial markets