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@article{ Herzberg2008,
 title = {Black-Scholes theory for an underlying with multiple attractors},
 author = {Herzberg, Frederik},
 journal = {Quantitative Finance},
 number = {5},
 pages = {453-457},
 volume = {8},
 year = {2008},
 doi = {https://doi.org/10.1080/14697680701518035},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-221089},
 abstract = {A valuation theory for derivatives on an underlying that is subject to multiple attractors is proposed, the economic justification being attraction-adjusted hedging. In non-critical regions -- outside the boundaries of the attractor regions -- a European option price can be viewed as a derivative on an underlying with a mean-reverting law, such as a commodity price, however with a different payoff function.},
}