Notes
Duality and Asset Pricing
May 20, 2026
The duality framework from Reflections on Duality maps onto asset pricing with very little friction. The payoff space is the primal space, the stochastic discount factor is the dual element, and the pricing formula is the bilinear pairing. Most of...
Reflections on Duality
April 21, 2026
Every duality result answers one question: given a space of states, what are all the ways to assign weights to those states and collapse them into a single number? The dual space \(V^*\) is the totality of such weighting schemes....