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The '''superhedging price''' is a [[coherent risk measure]].  The superhedging price of a [[financial portfolio|portfolio]] (A) is equivalent to the smallest amount necessary to be paid for an [[admissible portfolio]] (B) at the current time so that at some specified future time the value of B is at least as great as A.  In a [[complete market]] the superhedging price is equivalent to the price for [[hedge (finance)|hedging]] the initial portfolio.<ref>{{cite web|url=http://www.ericbenhamou.net/documents/Encyclo/Dynamic%20replication.pdf|title=Dynamic Replication|format=pdf|page=3|accessdate=July 22, 2010}}</ref>


==Mathematical definition==
If the set of [[equivalent martingale measure]]s is denoted by EMM then the superhedging price of a portfolio ''X'' is <math>\rho(-X)</math> where <math>\rho</math> is defined by
: <math>\rho(X) = \sup_{Q \in \mathrm{EMM}} \mathbb{E}^Q[-X]</math>.
<math>\rho</math> defined as above is a coherent risk measure.<ref>{{cite journal|last=Follmer|first=Hans|last2=Schied|first2=Alexander|date=October 8, 2008|title=Convex and Coherent Risk Measures|url=http://wws.mathematik.hu-berlin.de/~foellmer/papers/CCRM.pdf|accessdate=July 22, 2010|format=pdf}}</ref>


==Acceptance set==
Tesla has announced a military volunteer come back affecting to a greater extent than 29,000 of its home base charging adapters terminated potentiality ardour concerns. The NEMA 14-50 arranger is an optional abode induction that�allows for 240-volt recharging of the company's Pattern S. "Electrical resistance heating in the adapter or at the interface to the wall socket may lead to melting of the adapter, cord or wall receptacle, and possible electrical arcing that could lead to fire," reads Tesla's January 12th missive to the�Internal Highway Dealings Prophylactic Establishment.
The [[acceptance set]] for the superhedging price is the negative of the set of values of a [[self-financing portfolio]] at the terminal time.  That is
: <math>A = \{-V_T: (V_t)_{t=0}^T \text{ is the price of a self-financing portfolio at each time}\}</math>.{{Citation needed|date=February 2011}}


==Subhedging price==
Just this isn't a call back in the traditional sense; Tesla owners don't demand to proceeds their cars or adapters in for inspection and repair. (1/2) The terminal figure "recall" is obsolete. No vehicles are organism physically recalled by Tesla. ?? Tesla Motors (@TeslaMotors) January 14, 2014 The auto maker says the job has been altogether remedied�with an over-the-send package update. That update has already made its path to o'er 99 percent of cars, according to Tesla's Jerome Guillen.
The '''subhedging price''' is the greatest value that can be paid so that in any possible situation at the specified future time you have a second portfolio worth less or equal to the initial one.  Mathematically it can be written as <math>\inf_{Q \in \mathrm{EMM}} \mathbb{E}^Q[X]</math>. It is obvious to see that this is the negative of the superhedging price of the negative of the initial claim (<math>-\rho(X)</math>). In a complete market then the [[supremum]] and [[infimum]] are equal to each other and a unique hedging price exists.<ref>{{cite web|url=http://www.math.umn.edu/finmath/seminar/Materials/Ch10Guo.pdf|title=Pricing and hedging in incomplete markets|author=Lei (Nick) Guo|date=August 23, 2006|format=pdf|pages=10–17}}</ref>  The upper and lower bounds created by the subhedging and superhedging prices respectively are the [[no-arbitrage bounds]], an example of [[good-deal bounds]].<ref name="FE">{{cite book|title=Financial Engineering|author=John R. Birge|year=2008|publisher=Elsevier|pages=521–524|isbn=978-0-444-51781-4}}</ref><ref>{{cite journal|title=Convex risk measures for good deal bounds|first1=Takuji|last1=Arai|first2=Masaaki|last2=Fukasawa|year=2011|url=http://arxiv.org/PS_cache/arxiv/pdf/1108/1108.1273v1.pdf|format=pdf|accessdate=October 14, 2011}}</ref>


==Dynamic superhedging price==
If your Modelling S happens to be kayoed of net range, the fellowship wish put in the software program at whatever of its overhaul locations. At that place was an over-the-transmit package update (through finis month) and an upgraded US 14-50 transcriber leave be mail-clad to customers. ?? Elon Musk (@elonmusk) January 14, 2014 Anterior to the update, Tesla says that more or less 2.7 per centum of returned adapters showed signs of interior harm. Only a Sir Thomas More exhaustive depth psychology found that "defective or improperly installed wall receptacles" could resultant in melted adapters and flush fervidness "in the worst case scenario.
The dynamic superhedging price has [[conditional risk measure]]s of the form:
:<math>\rho_t(X) = \operatorname*{ess\sup}_{Q \in EMM} \mathbb{E}^Q[-X | \mathcal{F}_t].</math>
It is a widely shown result that this is [[time consistent]].<ref>{{cite journal|last=Penner|first=Irina|year=2007|title=Dynamic convex risk measures: time consistency, prudence, and sustainability|url=http://wws.mathematik.hu-berlin.de/~penner/penner.pdf|format=pdf|accessdate=August 28, 2011}}</ref>


==References==
"�In summation to the computer software update, Tesla has engineered a revised arranger hoopla that includes an home [http://wordpress.org/search/thermal+electrical thermal electrical] fuse. "The improved design and addition of the fuse will act to provide a higher level of reliability thereby demonstrating Tesla's commitment to full customer satisfaction." Tesla says it volition set out delivering the updated adapter to customers as buy in becomes useable. "It is a very safe car," aforesaid Guillen. "To date, there has been no serious injury in the Model S, ever.
{{Reflist}}


[[Category:Financial risk]]
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[[Category:Mathematical finance]]

Latest revision as of 18:27, 29 March 2014


Tesla has announced a military volunteer come back affecting to a greater extent than 29,000 of its home base charging adapters terminated potentiality ardour concerns. The NEMA 14-50 arranger is an optional abode induction that�allows for 240-volt recharging of the company's Pattern S. "Electrical resistance heating in the adapter or at the interface to the wall socket may lead to melting of the adapter, cord or wall receptacle, and possible electrical arcing that could lead to fire," reads Tesla's January 12th missive to the�Internal Highway Dealings Prophylactic Establishment. 

Just this isn't a call back in the traditional sense; Tesla owners don't demand to proceeds their cars or adapters in for inspection and repair. (1/2) The terminal figure "recall" is obsolete. No vehicles are organism physically recalled by Tesla. ?? Tesla Motors (@TeslaMotors) January 14, 2014 The auto maker says the job has been altogether remedied�with an over-the-send package update. That update has already made its path to o'er 99 percent of cars, according to Tesla's Jerome Guillen.

If your Modelling S happens to be kayoed of net range, the fellowship wish put in the software program at whatever of its overhaul locations. At that place was an over-the-transmit package update (through finis month) and an upgraded US 14-50 transcriber leave be mail-clad to customers. ?? Elon Musk (@elonmusk) January 14, 2014 Anterior to the update, Tesla says that more or less 2.7 per centum of returned adapters showed signs of interior harm. Only a Sir Thomas More exhaustive depth psychology found that "defective or improperly installed wall receptacles" could resultant in melted adapters and flush fervidness "in the worst case scenario.

"�In summation to the computer software update, Tesla has engineered a revised arranger hoopla that includes an home thermal electrical fuse. "The improved design and addition of the fuse will act to provide a higher level of reliability thereby demonstrating Tesla's commitment to full customer satisfaction." Tesla says it volition set out delivering the updated adapter to customers as buy in becomes useable. "It is a very safe car," aforesaid Guillen. "To date, there has been no serious injury in the Model S, ever.

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