@article{impliedprobabilitiesandvolatilityin,
  title = {Implied Probabilities and Volatility in Credit Risk: A Merton-Based Approach with Binomial Trees},
  author = {Jagdish Gnawali and Abootaleb Shirvani and Svetlozar T. Rachev},
  year = {2025},
  eprint = {2506.12694},
  archivePrefix = {arXiv},
  url = {https://arxiv.org/abs/2506.12694v1},
}