Abstract
Access to full, accurate, up-to-date information is clearly essential to anyone actively engaged in financial activity or trading Indeed, information is arguably the most important determinant of success in financial life. Partly for simplicity, partly to reflect the legislation and regulations against insider trading, we shall confine ourselves to the situation where agents take decisions on the basis of information in the public domain, and available to all. We shall further assume that information once known remains known — is not forgotten — and can be accessed in real time.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2004 Springer-Verlag London
About this chapter
Cite this chapter
Bingham, N.H., Kiesel, R. (2004). Stochastic Processes in Discrete Time. In: Risk-Neutral Valuation. Springer Finance. Springer, London. https://doi.org/10.1007/978-1-4471-3856-3_3
Download citation
DOI: https://doi.org/10.1007/978-1-4471-3856-3_3
Publisher Name: Springer, London
Print ISBN: 978-1-84996-873-7
Online ISBN: 978-1-4471-3856-3
eBook Packages: Springer Book Archive