Bulletin – September 2015
Equation (A3)
E
=
A
Φ
[
d
1
]
−
L
e
−
μ
τ
Φ
[
d
]
,
d
1
=
ln
[
A
L
]
+
(
μ
+
σ
A
2
2
)
τ
σ
′
A
τ
,
d
2
=
d
1
−
σ
A
τ
,
σ
A
=
E
σ
E
A
Φ
(
d
1
)
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