{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T15:45:47Z","timestamp":1777391147124,"version":"3.51.4"},"reference-count":0,"publisher":"SAGE Publications","issue":"1","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["AF"],"published-print":{"date-parts":[[2011,12,23]]},"abstract":"<jats:p>We set a lower bound on the complexity of options pricing formulae in the lattice metric by proving that no general explicit or closed form (hypergeometric) expression for pricing vanilla European call and put options exists when employing the binomial lattice approach. Our proof follows from Gosper's algorithm.<\/jats:p>","DOI":"10.3233\/af-2011-003","type":"journal-article","created":{"date-parts":[[2019,11,9]],"date-time":"2019-11-09T17:43:29Z","timestamp":1573321409000},"page":"13-16","source":"Crossref","is-referenced-by-count":3,"title":["Binomial options pricing has no closed-form solution"],"prefix":"10.1177","volume":"1","author":[{"given":"Evangelos","family":"Georgiadis","sequence":"first","affiliation":[{"name":"M.I.T. Cambridge, MA 02139 USA. E-mail: egeorg@mit.edu"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"179","container-title":["Algorithmic Finance"],"original-title":[],"link":[{"URL":"https:\/\/content.iospress.com\/download?id=10.3233\/AF-2011-003","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2026,4,28]],"date-time":"2026-04-28T09:52:35Z","timestamp":1777369955000},"score":1,"resource":{"primary":{"URL":"https:\/\/journals.sagepub.com\/doi\/full\/10.3233\/AF-2011-003"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2011,12,23]]},"references-count":0,"journal-issue":{"issue":"1"},"URL":"https:\/\/doi.org\/10.3233\/af-2011-003","relation":{},"ISSN":["2157-6203","2158-5571"],"issn-type":[{"value":"2157-6203","type":"electronic"},{"value":"2158-5571","type":"print"}],"subject":[],"published":{"date-parts":[[2011,12,23]]}}}