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Author(s): Joy Ijeoma Adindu-Dick.

Volume/Issue: Volume 6, Issue 3 (2023)

Page No: 84-92

Journal: African Journal of Mathematics and Statistics Studies (AJMSS)

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Abstract:

The confluent hypergeometric equation is one of the most important differential equations in physics, chemistry, finance and many more. This work deals with the power series solution of a class of confluent hypergeometric equation with α, a real constant and z, an independent variable. The confluent hypergeometric function of the first kind M(α,α+2,z) is derived together with the second power series solution, M ̃(α,α+2,z). The analysis of the roles of the derived function in option pricing models are given.

Keywords:

Confluent Hypergeometric Equation, Power Series, Option Pricing, Regular Singular Point.

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