Question: Can the approach for valuing path dependent options in Section 27.5 be used for a two-year American-style option that provides a payoff equal to max(Save

Can the approach for valuing path dependent options in Section 27.5 be used for a two-year American-style option that provides a payoff equal to max(Save - K, 0) where Save is the average asset price over the three months preceding exercise? Explain your answer.

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