Extensions of Conditional Linear Functionals

Pablo Koch-Medina and Cosimo Munari
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Pablo Koch-Medina: University of Zurich, Department of Banking and Finance
Cosimo Munari: University of Zurich, Department of Banking and Finance

Chapter 12 in Market-Consistent Prices, 2020, pp 203-219 from Springer

Abstract: Abstract In this chapter we extend to conditional linear functionals the extension and representation results established for scalar functionals in Chap. 4 . In particular, we obtain a conditional version of the Riesz Representation Theorem in which conditional expectations play the role of expectations. We pay special attention to conditional linear functionals that are strictly positive because the corresponding extension and representation results play a fundamental role in the study of multi-period financial markets.

Date: 2020
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DOI: 10.1007/978-3-030-39724-1_12

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