Suppose that all options traders decide to switch from BlackScholes to another model that makes different assumptions

Question:

Suppose that all options traders decide to switch from Black–Scholes to another model that makes different assumptions about the behavior of asset prices. What effect do you think this would have on
(a) the pricing of standard options and
(b) the hedging of standard options?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Question Posted: