Investigation of Exact Solutions of M-fractional Ivancevic Option
Pricing Model Based on Three Different Methods
This paper is about the investigation of exact solutions of important
economic model; Ivancevic option pricing model (IOPM) with M-fractional
derivative. To achieve this aim, three different methods; expa function
method, extended Sinh-Gordon equation expansion method (EShGEEM) and
extended (G′/G)-expansion method are used. Obtained solutions consisting
of trigonometric, hyperbolic trigonometric, rational and exponential.
The obtained solutions are new than the existing solutions in the
literature. The got solutions are also verified by using Mathematica
tool. Graphically justification are also done by plotting 2-D,3-D and
contour graphs. The importance of this paper is that M-fractional
derivative is first time use for this model. On the bases of achieved
results it is suggested that these methods are simple, reliable and
fruitful than the other methods.