The Fundamental Theorem of Asset Pricing

@inproceedings{2009TheFT,
  title={The Fundamental Theorem of Asset Pricing},
  author={},
  year={2009}
}
  • Published 2009
The story of this theorem started like most of modern Mathematical Finance with the work of F. Black, M. Scholes [3] and R. Merton [25]. These authors consider a model S = (St)0≤t≤T of geometric Brownian motion proposed by P. Samuelson [30], which today is widely known under the name of Black–Scholes model. Presumably every reader of this article is familiar with the by now wellknown technique to price options in this framework (compare eqf04/003: Risk Neutral Pricing): one changes the… CONTINUE READING
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