Considering the stupendous gain in importance, in the banking and insurance industries since the early 1990 s, of mathematical methodology, especially probabilistic methodology, it was a very natural idea for the French "Academie des Sciences" to propose a series of public lectures, accessible to an educated audience, to promote a wider understanding for some of the fundamental ideas, techniques and new tools of the financial industries.

These lectures were given at the "Academie des Sciences" in Paris by internationally renowned experts in mathematical finance, and later written up...