This paper extends results from Mortimer and Williams (1991) about changes of probability measure up to random times. Many new classes of examples involving honest times and pseudo-stopping times are provided . Furthermore, we discuss the question of market viability up to a random time  .
This paper extends results of Mortimer and Williams (1991) about changes of probability measure up to a random time under the assumptions that all martingales are continuous and that the random time avoids stopping times. We consider locally absolutely continuous measure changes up to a random time, changes of probability measure up to and after an honest time, and changes of probability measure up to a pseudo-stopping time. Moreover, we apply our results to construct a change of probability measure that is equivalent to the enlargement formula and to build for a certain class of pseudo-stopping times a class of measure changes that preserve the pseudo-stopping time property . Furthermore, we study for a price process modeled by a continuous semimartingale the stability of the No Free Lunch with Vanishing Risk (NFLVR) property up to a random time , that avoids stopping times, in the progressively enlarged filtration and provide sufficient conditions for this stability in terms of the Az\'ema supermartingale .
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random times. Many new classes of examples involving honest times and
a random time under the assumptions that all martingales are continuous and that the random time avoids stopping times. We consider locally absolutely continuous measure changes up to a random time, changes of probability measure up to and after an honest time, and changes of probability measure up to a
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times are provided
time. Moreover, we apply our results to construct a change of probability measure that is equivalent to the enlargement formula and to build for a certain class of pseudo-stopping times a class of measure changes that preserve the pseudo-stopping time property
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discuss the question of market viability
study for a price process modeled by a continuous semimartingale the stability of the No Free Lunch with Vanishing Risk (NFLVR) property
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, that avoids stopping times, in the progressively enlarged filtration and provide sufficient conditions for this stability in terms of the Az\'ema supermartingale