The scope of this volume is primarily to analyze from different methodological perspectives
similar valuation and optimization problems arising in financial applications aimed at
facilitating a theoretical and computational integration between methods largely regarded as
alternatives. Increasingly in recent years financial management problems such as strategic
asset allocation asset-liability management as well as asset pricing problems have been
presented in the literature adopting formulation and solution approaches rooted in stochastic
programming robust optimization stochastic dynamic programming (including approximate SDP)
methods as well as policy rule optimization heuristic approaches and others. The aim of the
volume is to facilitate the comprehension of the modeling and methodological potentials of
those methods thus their common assumptions and peculiarities relying on similar financial
problems. The volume will address different valuation problems common in finance related to:
asset pricing optimal portfolio management risk measurement risk control and asset-liability
management.The volume features chapters of theoretical and practical relevance clarifying
recent advances in the associated applied field from different standpoints relying on similar
valuation problems and as mentioned facilitating a mutual and beneficial methodological and
theoretical knowledge transfer. The distinctive aspects of the volume can be summarized as
follows:Strong benchmarking philosophy with contributors explicitly asked to underline current
limits and desirable developments in their areas.Theoretical contributions aimed at advancing
the state-of-the-art in the given domain with a clear potential for applicationsThe inclusion
of an algorithmic-computational discussion of issues arising on similar valuation problems
across different methods.Variety of applications: rarely is it possible within a single volume
to consider and analyze different and possibly competing alternative optimization techniques
applied to well-identified financial valuation problems.Clear definition of the current
state-of-the-art in each methodological and applied area to facilitate future research
directions.
