The most powerful formula in physics starts with a slender S, the symbol for a sort of sum known as an integral. Further along comes a second S, representing a quantity known as action. Together, ...

Using the path-integral formalism, Ryan Parker, Mark Stedman and Luca Capriotti develop an accurate and easy-to-compute semi-analytical approximation for a general class of default intensity models.

We provide numerical solutions based on the path integral representation of stochastic processes for non-gradient drift Langevin forces in the presence of noise, to follow the temporal evolution of ...