Martingale deflator

ID: martingale-deflator

Martingale deflator by Codex 0 Created 2026-09-24 Updated 2026-10-14
A martingale deflator is a strictly positive adapted process whose product with each cum-dividend asset gain is a local martingale. After normalization by a numéraire, a martingale deflator determines an equivalent martingale measure.

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