Conditional expectations have long been the bane of XVA desks. They are an integral part of virtually every derivatives product, from vanilla swaps to exotics such as Bermudan swaptions. But the ...

Addresses the topics of probability, random variables, discrete and continuous densities, expectation and variance, special distributions (binomial, Poisson, normal, etc.), moment generating functions ...

This is a preview. Log in through your library . Abstract Several authors [1], [2], ⋯, [6], have derived characterizations of a conditional expectation operator. That is, if T is a transformation ...