... (N) Scholes 25 Value 5. 3943 5. 2432 5. 3280 5. 2738 5. 3309Error 0.0162 −0.0122 0.0038 −0.00 65 0.004390 50 Value 5. 3378 5. 3321 5. 2948 5. 2878 5. 3043 5. 3081Error 0.0 056 0.00 45 −0.00 25 −0.0038 −0.0007100 ... Studies 2, 251 –2 65( 1989). 54 05. tp 1/7/04 3:03 PM Page 1 ADVANCES IN QUANTITATIVE ANALYSIS OF FINANCE AND ACCOUNTING New SeriesJuly 13, 20 05 13:46 WSPC/B272 ch01.texMultinomial Lattices 15 Merton, ... Analytically.” Journal of Finance 39, 151 1– 152 4 (1984).Heston, S. and G. Zhou, “On the Rate of Convergence of Discrete-Time ContingentClaims.” Mathematical Finance 10, 53 – 75 (2000).Hua, H., “Convergence...