Please provide steps to justify the below.
1) Can we use a constant as a numeraire?
Related Question: Scaling Stock Price and Strike etc. by a Constant
The rest of standard Geometric Brownian Motion and Black Scholes assumptions apply.
Please provide steps to justify the below.
1) Can we use a constant as a numeraire?
Related Question: Scaling Stock Price and Strike etc. by a Constant
The rest of standard Geometric Brownian Motion and Black Scholes assumptions apply.
I understand that this question relates more to wikipedia than it does writing but... If I was going to use wikipedia for a source for a res...
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