A paper on an equation useful in finance has been retracted after editors discovered an “identical” version had been published in another journal.
The paper, “On the Parametric Interest of the Black-Scholes Equation,” was published in the Thai Journal of Mathematics. According to the introduction, that equation has a practical use:
In financial mathematics, the famous equation named the Black-Scholes equation plays an important role in solving the option price of stocks
(According to The Guardian, it was “The mathematical equation that caused the banks to crash.”)
Here’s the retraction note in full:
This article has been retracted at the request of the Editor-in-Chief because it is identical with a paper that had been already appeared in J. Appl. Math. Informatics Vol. 28(2010) No. 3-4, pp. 923-929, (http://www.kcam.biz/contents/table_contents_view.php?Len=&idx=1065).
One of the conditions of submission of a paper for publication in Thai Journal of Mathematics that their work is original and has not been previously published, nor is it before another journal for consideration. Thai Journal of Mathematics would like to apologize readers that this was not detected during the submission process.
We’ve also emailed the author, Amnuay Kananthai, who works at Chiang Mai University in Thailand.
Hat tip: Rolf Degen
Like Retraction Watch? You can make a tax-deductible contribution to support our work, follow us on X or Bluesky, like us on Facebook, follow us on LinkedIn, add us to your RSS reader, or subscribe to our daily digest. If you find a retraction that’s not in our database, you can let us know here. For comments or feedback, email us at [email protected].