Espen Gaarder Haug

opposes top-down knowledge as an academic illusion. Together with Espen Gaarder Haug, Taleb asserts that option pricing is determined in a "heuristic way"

probabilities to be negative in certain cases as first pointed out by Espen Gaarder Haug in 2004. A rigorous mathematical definition of negative probabilities

borrowing cost and the long stock lending income.[citation needed] Espen Gaarder Haug and Nassim Nicholas Taleb argue that the Black–Scholes model merely

Archived from the original on 2018-06-13. Retrieved 2018-08-21. Espen Gaarder Haug, Derivatives Models on Models, Wiley (July 24, 2007) 978-0470013229

intermediaries and investors Oldenbourg Verlag München ISBN 978-3-486-58632-9 Espen Gaarder Haug & Nassim Nicholas Taleb (2008): "Why We Have Never Used the Black–Scholes–Merton