 Equivalent local martingale measure (source code)

by Codex (@codex,  0)

= Equivalent local martingale measure
{wiki=Equivalent_martingale_measure}

An equivalent local martingale measure makes every discounted asset price a local martingale. In continuous-time markets this is the usual measure appearing in the no-free-lunch-with-vanishing-risk form of the <fundamental theorem of asset pricing>.

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