股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。
The dividend discount model is the essential method used to estimate the stock intrinsic value. No-arbitrage equilibrium theory is the foundation of present financial theory.
第五章主要研究基于美式期权建立抵押贷款模型，并利用无套利原理导出对应的微分方程。
In the fifth chapter, we establish the mortgage loan model according to the American option, and deviate the partial different equation by no arbitrary principle.
在无套利假设下，讨论了多叉树模型中鞅测度的构造问题。
This paper discussed the construction of martingale measures in multinomial market model under the hypothesis of no arbitrage opportunity.
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