So sánh phương pháp

	Định giá trung lập rủi ro	Mô hình SABR
Lĩnh vực	Tài chính định lượng	Tài chính định lượng
Họ	Regression model	Regression model
Năm ra đời	1979	2002
Người khởi xướng	John Harrison and David Kreps	Patrick S. Hagan
Loại	Fundamental Principle	Interest Rate Model
Công trình gốc	Harrison, J. M., & Kreps, D. M. (1979). Martingales and arbitrage in multiperiod securities markets. Journal of Economic Theory, 20(3), 381-408.	Hagan, P. S., Kumar, D., Lesniewski, A. S., & Woodward, D. E. (2002). Managing smile risk. Wilmott Magazine, 1, 84-108.
Tên gọi khác	Risk-Neutral Measure, Q-Measure	Stochastic Volatility Model
Liên quan	4	4
Tóm tắt	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.	The SABR (Stochastic Alpha-Beta-Rho) model is a stochastic volatility framework introduced by Hagan et al. in 2002 for valuing interest rate derivatives. It captures the smile effect in implied volatility through correlated Brownian motions and has become industry standard for swaption and caplet pricing.