EDITORIAL

AVERAGE OPTIONS FOR JUMP DIFFUSION MODELS
HIROSHI KUNITA and TAKUYA YAMADA

ALTERNATIVE RANDOMIZATION FOR VALUING AMERICAN OPTIONS
TOSHIKAZU KIMURA

THE VALUATION OF CALLABLE-PUTTABLE REVERSE CONVERTIBLE BONDS
KYOKO YAGI and KATSUSHIGE SAWAKI

COMPUTING BOUNDS ON RISK-NEUTRAL DISTRIBUTIONS FROM THE OBSERVED PRICES OF CALL OPTIONS
MICHI NISHIHARA, MUTSUNORI YAGIURA and TOSHIHIDE IBARAKI

THE VALUATION OF RUSSIAN OPTIONS FOR DOUBLE EXPONENTIAL JUMP DIFFUSION PROCESSES
ATSUO SUZUKI and KATSUSHIGE SAWAKI

PRICING AND CALIBRATION OF A CHOOSER FLEXIBLE CAP
DAISUKE ITO, MASAMITSU OHNISHI and YASUHIRO TAMBA

AN OPTIMAL MARKET ENTRY/EXIT EVALUATION MODEL WITH PARTIAL FINANCING FUNDS
TYRONE T. LIN, CHUAN-CHUAN KO and CHIEN-YU LIU

IRREVERSIBLE INVESTMENT, OPERATING FLEXIBILITY, AND TIME LAGS
RYUTA TAKASHIMA, MAKOTO GOTO and MOTOH TSUJIMURA

ESTIMATING BIVARIATE GARCH-JUMP MODEL BASED ON HIGH FREQUENCY DATA: THE CASE OF REVALUATION OF THE CHINESE YUAN IN JULY 2005
XINHONG LU, KEN-ICHI KAWAI and KOICHI MAEKAWA