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$\left.\right.$\\
At node H there is a $30\%$ chance that the employee will choose to exercise the option.\\
In cases where the employee does not choose to exercise, there is a $45\%$ chance that the employee leaves the company and has to exercise.\\
The total probability of exercise is
$$0.3 + (1- 0.3)\times 0.05 = 0.334.$$
即使我手动修改了版本,当我在内容中插入一些新的句子时,问题又会出现,我需要再次修改。那么有没有什么智能的方法来插入图片呢?
如果我使用
Here $\E^T$ is under $T$-forward measure. As the margin paid everyday, there is no time value, then we can regard as $r=0$ or a stock with dividend yield $q = r.$ in the futures price.
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\textbf{Speculating} The observation that in the classical Black-Scholes theory the drift of the asset plays no part.
结果是