Every L2 martingale adapted to Brownian filtration has stochastic-integral representation M_t = M_0 + int phi_s dW_s; foundation of contingent-claim hedging in mathematical finance.
Every L2 martingale adapted to Brownian filtration has stochastic-integral representation M_t = M_0 + int phi_s dW_s; foundation of contingent-claim hedging in mathematical finance.