The Weizmann Institute of Science Faculty of Mathematics and Computer Science Mathematical Analysis and Applications Seminar Lecture Hall, Room 1, Ziskind Building on Tuesday, June 28, 2011 11:00 - noon Yakar Kannai will speak on Is (quasi)-analytic function theory related to financial markets? Abstract: It is well known that time analyticity of solutions of parabolic differential equations plays a crucial role in demonstrating dynamic completeness of financial markets at equilibrium, making pricing of derivatives possible. It is known that global conditions are required in order to obtain uniqueness and time analyticity for Cauchy problem, even for the standard heat equation. Observe that what is really relevant is quasi-analyticity. We obtain time-quasianalyticity for parabolic equations with quasi-analytic coefficients, with sufficiently general growth conditions to cover standard financial applications (jointly with R. Raimondo). Mathematical Analysis and Applications Seminar Web Page: <http://www.wisdom.weizmann.ac.il/~vered/analsem.html> --------------------------------------------------------- Technion Math Net-2 (TECHMATH2) Editor: Michael Cwikel <techm@math.technion.ac.il> Announcement from: Diana Mandelik <diana.mandelik@weizmann.ac.il>