 Dividend-price transversality condition

A positive state-price density prices a productive stock through a conditional dividend sum plus a future deflated-price term. The displayed condition removes that terminal term, yielding transversality and fundamental dividend prices. An individual consumption budget instead has terminal term $\mathbb{E}[{\zeta }_N{S}_N{\theta }_{N+1}]$, so its vanishing must be imposed or proved for the particular holdings as well.