{"title":"二项模型","authors":"T. Björk","doi":"10.1093/OSO/9780198851615.003.0002","DOIUrl":null,"url":null,"abstract":"The binomial model is introduced. We discuss the concept of pricing by no arbitrage and derive pricing formulas for financial derivatives within the binomial model, and the market is shown to be complete. The concept of a martingale measure is introduced and related to the pricing formulas.","PeriodicalId":311283,"journal":{"name":"Arbitrage Theory in Continuous Time","volume":"545 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1998-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Binomial Model\",\"authors\":\"T. Björk\",\"doi\":\"10.1093/OSO/9780198851615.003.0002\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The binomial model is introduced. We discuss the concept of pricing by no arbitrage and derive pricing formulas for financial derivatives within the binomial model, and the market is shown to be complete. The concept of a martingale measure is introduced and related to the pricing formulas.\",\"PeriodicalId\":311283,\"journal\":{\"name\":\"Arbitrage Theory in Continuous Time\",\"volume\":\"545 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1998-09-24\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Arbitrage Theory in Continuous Time\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1093/OSO/9780198851615.003.0002\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Arbitrage Theory in Continuous Time","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1093/OSO/9780198851615.003.0002","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The binomial model is introduced. We discuss the concept of pricing by no arbitrage and derive pricing formulas for financial derivatives within the binomial model, and the market is shown to be complete. The concept of a martingale measure is introduced and related to the pricing formulas.
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