Question: please help me to answer this finance math problem. Thanks 3. Let r and o both be stopping times for the N-period binomial model. (a)
please help me to answer this finance math problem. Thanks
3. Let r and o both be stopping times for the N-period binomial model. (a) Recall that the binary operation A : R2 -> R is defined by a Ab = min(a, b). Show that T A o is a stopping time in the N-period binomial model. (b) Define a binary operation V : R2 -> R by a Vb = max(a, b). Show that T V o is a stopping time in the N-period binomial model
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