This book consists of 18 papers presented at the KIER-TMU International Workshop on Financial Engineering 2009. These papers address state-of-the-art techniques in financial engineering, and
they are selected through appropriate referees' evaluation followed by the editors' final decision in order to make this book a high-quality one.The KIER-TMU International Workshop on Financial
Engineering was held for the first time in 2009. Prof. Kijima (the Chair of this workshop) and his colleagues held the Daiwa International Workshop on Financial Engineering in Tokyo from
2004��008. Each year, various kinds of interesting and high-quality studies are presented by many researchers from various countries, from both academia and the industry. Accordingly, this
workshop serves as a bridge between academic researchers on financial engineering and practitioners. In 2009, the Institute of Economic Research, Kyoto University (KIER) and Tokyo Metropolitan
University (TMU) held a new international workshop, the ��IER-TMU International Workshop on Financial Engineering�� which is regarded as a successor to the Daiwa International Workshop.
