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rff (rff) 于 (Sun Nov 9 21:33:25 2008) 提到:
How do I understand option risk-neutral valuation? Why it works at all? Why
option pricing does not depends on underlying asset's expected return? I can
see it from binomial model and BS derivation, but intuitively, how can this
be understood by layman's words?
Hull said the risk preference was already included in the stock price. I
guess he means stock price S_{0}. But I don't think this price itself really
