Shane Mage wrote: > At a "given point point in time" asset prices are > what they are, and so the probability of their being > anything else is zero *by definition*.
A "given point in time" doesn't necessarily mean right now. It's a more general notion. It may mean tomorrow. Or the next day. It may mean yesterday or the day before. In general, having a time joint probability distribution of X is not trivial. If the level of X in the future (past) has not yet been (was not) observed or is unobservable, and you need to form expectations about it (historians deal with the latter problem all the time), you need a probability distribution of X. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
