Abstract
In this work, we use the invariant subspace method to obtain separable solutions for the well-known time-fractional Black-Scholes equation (tF-BSE) under three different kinds of fractional derivatives that are (i) Caputo derivative, (ii) regularized Prabhakar derivative, and (iii) Hilfer derivative. Also, the comparison of the obtained solutions of tF-BSE with those mentioned above three different fractional-order derivatives has been discussed. In addition, this work shows that generalized separable exact solutions include the two- and three-parameters of the Mittag-Leffler, the Euler-gamma, exponential, and polynomial functions. Additionally, we compare the obtained separable solutions in two-dimensional graphically under considered fractional-order derivatives for various values of fractional-order α, α ϵ (0, 1].
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
