New Illustrative Applications of Integral Transforms to Financial Models with Different Fractional Derivatives

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dc.contributor.authorAkgul, Esra Karatas
dc.contributor.authorAkgul, Ali
dc.contributor.authorYavuz, Mehmet
dc.date.accessioned2024-02-23T14:02:24Z
dc.date.available2024-02-23T14:02:24Z
dc.date.issued2021
dc.departmentNEÜen_US
dc.description.abstractWe investigate a couple of different financial/economic models based on market equilibrium and option pricing with three different fractional derivatives in this paper. We obtain the fundamental solutions of the models by Sumudu transform and Laplace transform. We demonstrate our results by illustrative figures to point out the difference between the fractional operators that have power kernel, exponential kernel and Mittag-Leffler kernel. We prove the efficiency and accuracy of the Sumudu transform and decomposition series method constructed by the Laplace transform in providing the solutions of several different linear/nonlinear financial models by considering the theoretical results and illustrative applications. It seems that the proposed method is an efficient way to solve such problems that contain different types of fractional operators and one is able to point out the differences between these mentioned operators. One of the valuable features of the method is the possibility of using it in solving other similar equations including fractional derivatives having a singular or nonsigular kernel. This paper also suggests a good initiative and profitable tool for those who want to invest in these types of options either individually or institutionally. (C) 2021 Elsevier Ltd. All rights reserved.en_US
dc.identifier.doi10.1016/j.chaos.2021.110877
dc.identifier.issn0960-0779
dc.identifier.issn1873-2887
dc.identifier.scopus2-s2.0-85103638423en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.urihttps://doi.org/10.1016/j.chaos.2021.110877
dc.identifier.urihttps://hdl.handle.net/20.500.12452/11698
dc.identifier.volume146en_US
dc.identifier.wosWOS:000647561600004en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherPergamon-Elsevier Science Ltden_US
dc.relation.ispartofChaos Solitons & Fractalsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectLaplace Transformen_US
dc.subjectModified Decomposition Seriesen_US
dc.subjectSumudu Transformen_US
dc.subjectFractional Order Financial Modelingen_US
dc.subjectAnalytical Solutionen_US
dc.subjectNumerical Simulationen_US
dc.titleNew Illustrative Applications of Integral Transforms to Financial Models with Different Fractional Derivativesen_US
dc.typeArticleen_US

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