So sánh phương pháp

	Mô hình định giá quyền chọn Black-Scholes-Merton	Biến động thực hiện và Mô hình HAR
Lĩnh vực	Tài chính	Tài chính
Họ	Regression model	Regression model
Năm ra đời	1973	2009
Người khởi xướng	Fischer Black, Myron Scholes & Robert Merton	Corsi (HAR model); Andersen, Bollerslev, Diebold & Labys (realized volatility)
Loại	Continuous-time option-pricing model	Time-series regression of realized variance
Công trình gốc	Black, F., & Scholes, M. (1973). The pricing of options and corporate liabilities. Journal of Political Economy, 81(3), 637–654.	Corsi, F. (2009). A Simple Approximate Long-Memory Model of Realized Volatility. Journal of Financial Econometrics, 7(2), 174-196.
Tên gọi khác	Black-Scholes formula, Black-Scholes-Merton model, BSM model, Black-Scholes opsiyon fiyatlama modeli	realized variance, HAR model, heterogeneous autoregressive model of realized volatility, HAR-RV
Liên quan	4	5
Tóm tắt	The Black-Scholes-Merton model, published by Fischer Black and Myron Scholes in 1973 with the theoretical framework extended by Robert Merton, gives a closed-form no-arbitrage price for European options. By assuming the underlying asset follows geometric Brownian motion with constant volatility, it derives a partial differential equation whose solution expresses the option price in terms of the stock price, strike, time to maturity, risk-free rate, and volatility — transforming option pricing from intuition into a rigorous, tractable formula.	Realized volatility estimates an asset's variance directly from high-frequency intraday returns rather than from a parametric latent process. The Heterogeneous Autoregressive (HAR) model of Corsi (2009), building on the realized-volatility framework of Andersen, Bollerslev, Diebold and Labys (2003), forecasts this measure by combining daily, weekly, and monthly volatility components, and is a strong alternative to GARCH for volatility prediction.