Mercury (toy manufacturer) Marklin, the company was started in 1932, by Attilio Clemente and Antonio Cravero, but its first toy was a gun produced about 1939 (Batazzi et al 1974; Force 1992, 5; History of Mercury 2013; Ralston 2009, 62). The company first began making toy cars just after World War II, so is one of the earliest diecast model makers preceding Corgi and many others and it was the earliest producer in Italy (Richardson 1999, 134). In Italy there was little competition for Mercury through most of the 1950s (Force 1992, 5). Early cars were more Tootsietoy-like with simple cast bodies, wheels
Black–Derman–Toy model model has been shown to imply the following continuous stochastic differential equation: For constant (time independent) short rate volatility, formula_7, the model is: One reason that the model remains popular, is that the "standard" Root-finding algorithms—such as Newton's method (the secant method) or bisection—are very easily applied to the calibration. Relatedly, the model was originally described in algorithmic language, and not using stochastic calculus or martingales. Notes Articles Black–Derman–Toy model In mathematical finance, the Black–Derman–Toy model (BDT) is a popular short rate model used in the pricing of bond options, swaptions and other interest rate derivatives; see Lattice model (finance)