Hedging Strategies : Complete and Incomplete Systems of Markets
نویسندگان
چکیده
منابع مشابه
An Example 63 The Two { Period Model 103
We develop a new approach to pricing and hedging contingent claims in incomplete markets. Mimicking as closely as possible in an incomplete markets framework the no{arbitrage arguments that have been developed in complete markets leads us to de ning the concept of pseudo{arbitrage. Building on this concept we are able to extend the no{arbitrage idea to a world of incomplete markets in such a wa...
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