![](https://aims-cameroon.org/wp-content/uploads/sites/6/2023/06/asrat.jpg)
While at AIMS, Asrat studied the convergence of the binomial market model to the Black-Scholes financial model. Precisely, by using the De Moivre Laplace Central Limit Theorem, he showed that Cox-Ross-Rubinstein’s formula for the price of a European call option in the multi-step binomial model converges in distribution to the celebrated Black-Scholes formula for a European call option price in Black-Scoles financial model.
Asrat is a PhD student at Universidade de São Paulo, Instituto de Ciências Matemáticas e de Computação, Brazil.