Risk-neutral valuation

Japanese

リスク中立評価

Last reviewed

September 25, 2026

This is a draft, shown for review before publication.

Risk-neutral valuation is the approach of pricing a derivative by taking the expected value of its future payoff under risk-neutral probabilities and discounting it at the risk-free rate. For products that can be replicated with the underlying and other instruments, it gives the same price as replication.