Michael Tomas, Assistant Professor of Business Administration, co-authored an article with Hari Krishnan from Morgan Stanley, which has been accepted for publication in the Review of Futures Markets Journal in the December, 2006 issue.  In their study, titled "An Extension to Fitting Discrete Time Term Structure Models When Rates Are Outcomes of Bernoulli Trials," they calculate the proper risk-neutral drift terms for a binomial model version of the well-known Heath Jarrow Morton model.