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Local martingale

stochastic process satisfying the localized martingale property: i.e. such that there exists a sequence of stopping times, almost surely increasing and almost surely diverging, such that the corresponding stopped processes are martingales

Pronunciation
/ˈləʊkəl ˈmɑːtɪŋɡeɪl/
/ˈloʊkəl ˈmɑrtnˌɡeɪl/
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