Intended for researchers and graduate students in financial mathematics, this volume offers ＂an analytical basis for the quantitative methodology of dynamic valuation, mitigation and hedging of
bilateral counterparty risk on OTC derivative contracts under funding constraints＂ (from the preface). The two puzzles alluded to in the title pertain to the dependence structure and the
DVA/FVA overlap, and the top-down versus bottom-up portfolio credit modeling puzzle--to which a solution is necessary in order to deal with counterparty risk on credit derivatives. Annotation
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