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Composing contracts: an adventure in financial engineering (functional pearl) Export

by: Simon Peyton Jones, Jean M. Eber, Julian Seward
ACM SIG\-PLAN Notices, Vol. 35, No. 9. (2000), pp. 280-292.

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Financial and insurance contracts do not sound like promising territory for functional programming and formal semantics, but in fact we have discovered that insights from programming languages bear directly on the complex subject of describing and valuing a large class of contracts. We introduce a combinator library that allows us to describe such contracts precisely, and a compositional denotational semantics that says what such contracts are worth. We sketch an implementation of our...


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