So sánh phương pháp

	Biến động cục bộ (Dupire)	Định giá trung lập rủi ro
Lĩnh vực	Tài chính định lượng	Tài chính định lượng
Họ	Regression model	Regression model
Năm ra đời	1994	1979
Người khởi xướng	Bruno Dupire	John Harrison and David Kreps
Loại	Equity/FX Model	Fundamental Principle
Công trình gốc	Dupire, B. (1994). Pricing with a smile. Risk Magazine, 7(1), 18-20.	Harrison, J. M., & Kreps, D. M. (1979). Martingales and arbitrage in multiperiod securities markets. Journal of Economic Theory, 20(3), 381-408.
Tên gọi khác	Deterministic Volatility Function, DVF	Risk-Neutral Measure, Q-Measure
Liên quan	4	4
Tóm tắt	Dupire's local volatility model (1994) is a deterministic framework that extracts a term and strike-dependent volatility function from market option prices. Unlike constant volatility, local volatility perfectly fits the observed implied volatility smile and is implemented via finite difference methods for European and American option pricing.	Risk-neutral valuation (1979) is the fundamental principle that derivative prices equal the expected payoff discounted at the risk-free rate, computed under a risk-neutral probability measure (Q-measure). This principle, formalized by Harrison and Kreps, eliminates the need to estimate risk premia and is the foundation of modern derivatives pricing.