英文标题：
《Financial Models with Defaultable Num\\\'eraires》
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作者：
Travis Fisher, Sergio Pulido, Johannes Ruf
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最新提交年份：
2017
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英文摘要：
Financial models are studied where each asset may potentially lose value relative to any other. Conditioning on non-devaluation, each asset can serve as proper num\\\'eraire and classical valuation rules can be formulated. It is shown when and how these local valuation rules can be aggregated to obtain global arbitrage-free valuation formulas.
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中文摘要：
金融模型研究的是每种资产相对于任何其他资产可能会失去价值的情况。在不贬值的条件下，每一项资产都可以作为适当的基准，并且可以制定经典的估值规则。本文展示了何时以及如何将这些局部估值规则进行聚合，以获得全球无套利估值公式。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：Pricing of Securities 证券定价
分类描述：Valuation and hedging of financial securities, their derivatives, and structured products
金融证券及其衍生产品和结构化产品的估值和套期保值
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一级分类：Mathematics 数学
二级分类：Probability 概率
分类描述：Theory and applications of probability and stochastic processes: e.g. central limit theorems, large deviations, stochastic differential equations, models from statistical mechanics, queuing theory
概率论与随机过程的理论与应用：例如中心极限定理，大偏差，随机微分方程，统计力学模型，排队论
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