Dhaene, Jan; Kukush, Alexander; Luciano, Elisa; … - In: Insurance: Mathematics and Economics 52 (2013) 3, pp. 522-531
Probability statements about future evolutions of financial and actuarial risks are expressed in terms of the ‘real-world’ probability measure P, whereas in an arbitrage-free environment, the prices of these traded risks can be expressed in terms of an equivalent martingale measure Q. The...