Zur Beziehung zwischen Barwertmodell, Fair Game Modell und Martingalmodell: Eine Übersicht

Summary: This paper presents an overview of the relationships between the present value model, the fair game model and the martingale model. Special attention is given to the economic and mathematical assumptions of these models. In addition to the well known transversality condition we give another condition which also guarantees the equivalence of the above mentioned models .;