A complete market is a financial market in which every contingent claim in the chosen class can be replicated by an admissible self-financing portfolio. In an arbitrage-free finite market, completeness is equivalent to uniqueness of the equivalent martingale measure.
A **complete market** is an economic concept referring to a market that has sufficient assets to allow individuals to achieve any desired outcome in terms of risk and return. In a complete market, every possible state of the world can be replicated through a combination of available financial instruments, enabling investors to hedge against risks or pursue specific investment goals.
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