The Martingale Property is a fundamental concept in probability theory and stochastic processes, particularly in the study of financial markets and gambling. A sequence of random variables is said to be a martingale with respect to a filtration if it satisfies the following conditions:
This property indicates that, under the martingale framework, the future expected value of the process is equal to the present value, suggesting a fair game where there is no "predictable" trend over time.
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