{"bundle_type":"pith_open_graph_bundle","bundle_version":"1.0","pith_number":"pith:2023:GE5OQUONHKDVT6XPAGE3MKBDPM","short_pith_number":"pith:GE5OQUON","canonical_record":{"source":{"id":"2304.02356","kind":"arxiv","version":3},"metadata":{"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.MF","submitted_at":"2023-04-05T10:45:25Z","cross_cats_sorted":["q-fin.PR"],"title_canon_sha256":"a0a0b4527bc9941ccd35fb31215f42aabeab482d8edf7dc53e0e4bcf4a4f77ed","abstract_canon_sha256":"5840218041bb62300be9fd242c1dd3867d81d5dec637dd5c27dc03f4e9c8f495"},"schema_version":"1.0"},"canonical_sha256":"313ae851cd3a8759faef0189b628237b1266a61fe1f671b73fd776650957abda","source":{"kind":"arxiv","id":"2304.02356","version":3},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2304.02356","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"arxiv_version","alias_value":"2304.02356v3","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2304.02356","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_12","alias_value":"GE5OQUONHKDV","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_16","alias_value":"GE5OQUONHKDVT6XP","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_8","alias_value":"GE5OQUON","created_at":"2026-07-05T07:50:00Z"}],"events":[{"event_type":"record_created","subject_pith_number":"pith:2023:GE5OQUONHKDVT6XPAGE3MKBDPM","target":"record","payload":{"canonical_record":{"source":{"id":"2304.02356","kind":"arxiv","version":3},"metadata":{"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.MF","submitted_at":"2023-04-05T10:45:25Z","cross_cats_sorted":["q-fin.PR"],"title_canon_sha256":"a0a0b4527bc9941ccd35fb31215f42aabeab482d8edf7dc53e0e4bcf4a4f77ed","abstract_canon_sha256":"5840218041bb62300be9fd242c1dd3867d81d5dec637dd5c27dc03f4e9c8f495"},"schema_version":"1.0"},"canonical_sha256":"313ae851cd3a8759faef0189b628237b1266a61fe1f671b73fd776650957abda","receipt":{"kind":"pith_receipt","key_id":"pith-v1-2026-05","algorithm":"ed25519","signed_at":"2026-07-05T07:50:00.522912Z","signature_b64":"cPDNxE5NnLlHRXRgzi/BSOI63v4t8Nr+fncPm4fQQNtmGcfeByco2wzodPdolgExdcsXbg7FyTau5YRXDB38CA==","signed_message":"canonical_sha256_bytes","builder_version":"pith-number-builder-2026-05-17-v1","receipt_version":"0.3","canonical_sha256":"313ae851cd3a8759faef0189b628237b1266a61fe1f671b73fd776650957abda","last_reissued_at":"2026-07-05T07:50:00.522429Z","signature_status":"signed_v1","first_computed_at":"2026-07-05T07:50:00.522429Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"source_kind":"arxiv","source_id":"2304.02356","source_version":3,"attestation_state":"computed"},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T07:50:00Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"t+LWAcMInuk9nYR1Gozl5cNRE8qL/i/Z5SFYehgJtBdWfUr/M4EXwwDAqQ5Ja/82yqvHQDSSjo8O6O2j83iOAA==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-19T16:11:31.465996Z"},"content_sha256":"3b5e5db8731bbc8efceef37db841243b8f8b073ae3d716ceabf7bd234608548d","schema_version":"1.0","event_id":"sha256:3b5e5db8731bbc8efceef37db841243b8f8b073ae3d716ceabf7bd234608548d"},{"event_type":"graph_snapshot","subject_pith_number":"pith:2023:GE5OQUONHKDVT6XPAGE3MKBDPM","target":"graph","payload":{"graph_snapshot":{"paper":{"title":"Unifying Market Microstructure and Dynamic Asset Pricing","license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","headline":"","cross_cats":["q-fin.PR"],"primary_cat":"q-fin.MF","authors_text":"Davide Lauria, Svetlozar T. Rachev, W. Brent Lindquist, Yuan Hu","submitted_at":"2023-04-05T10:45:25Z","abstract_excerpt":"We introduce a discrete binary tree for pricing contingent claims with the underlying security prices exhibiting history dependence characteristic of that induced by market microstructure phenomena. Example dependencies considered include moving average or autoregressive behavior. Our model is market-complete, arbitrage-free, and preserves all of the parameters governing the historical (natural world) price dynamics when passing to an equivalent martingale (risk-neutral) measure. Specifically, this includes the instantaneous mean and variance of the asset return and the instantaneous probabili"},"claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2304.02356","kind":"arxiv","version":3},"verdict":{"id":null,"model_set":{},"created_at":null,"strongest_claim":"","one_line_summary":"","pipeline_version":null,"weakest_assumption":"","pith_extraction_headline":""},"integrity":{"clean":true,"summary":{"advisory":0,"critical":0,"by_detector":{},"informational":0},"endpoint":"/pith/2304.02356/integrity.json","findings":[],"available":true,"detectors_run":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938"},"references":{"count":0,"sample":[],"resolved_work":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","internal_anchors":0},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"author_claims":{"count":0,"strong_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"builder_version":"pith-number-builder-2026-05-17-v1"},"verdict_id":null},"signer":{"signer_id":"pith.science","signer_type":"pith_registry","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54"},"created_at":"2026-07-05T07:50:00Z","supersedes":[],"prev_event":null,"signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"EASzJuwiU4Jp11Q5Jw0HQAEC3uw0zFHe0gR3MQh+s9gE5P6zqu8YyXQaHwWENd/D/RLSaV4N8WvS7d+Sx2jwDw==","signed_message":"open_graph_event_sha256_bytes","signed_at":"2026-08-19T16:11:31.466507Z"},"content_sha256":"a639136c1c00ef8f1c2340415eeafbef8a6ba61fc357520d079ad105004b4865","schema_version":"1.0","event_id":"sha256:a639136c1c00ef8f1c2340415eeafbef8a6ba61fc357520d079ad105004b4865"}],"timestamp_proofs":[],"mirror_hints":[{"mirror_type":"https","name":"Pith Resolver","base_url":"https://pith.science","bundle_url":"https://pith.science/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/bundle.json","state_url":"https://pith.science/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/state.json","well_known_bundle_url":"https://pith.science/.well-known/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/bundle.json","status":"primary"}],"public_keys":[{"key_id":"pith-v1-2026-05","algorithm":"ed25519","format":"raw","public_key_b64":"stVStoiQhXFxp4s2pdzPNoqVNBMojDU/fJ2db5S3CbM=","public_key_hex":"b2d552b68890857171a78b36a5dccf368a953413288c353f7c9d9d6f94b709b3","fingerprint_sha256_b32_first128bits":"RVFV5Z2OI2J3ZUO7ERDEBCYNKS","fingerprint_sha256_hex":"8d4b5ee74e4693bcd1df2446408b0d54","rotates_at":null,"url":"https://pith.science/pith-signing-key.json","notes":"Pith uses this Ed25519 key to sign canonical record SHA-256 digests. Verify with: ed25519_verify(public_key, message=canonical_sha256_bytes, signature=base64decode(signature_b64))."}],"merge_version":"pith-open-graph-merge-v1","built_at":"2026-08-19T16:11:31Z","links":{"resolver":"https://pith.science/pith/GE5OQUONHKDVT6XPAGE3MKBDPM","bundle":"https://pith.science/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/bundle.json","state":"https://pith.science/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/state.json","well_known_bundle":"https://pith.science/.well-known/pith/GE5OQUONHKDVT6XPAGE3MKBDPM/bundle.json"},"state":{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2023:GE5OQUONHKDVT6XPAGE3MKBDPM","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"5840218041bb62300be9fd242c1dd3867d81d5dec637dd5c27dc03f4e9c8f495","cross_cats_sorted":["q-fin.PR"],"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.MF","submitted_at":"2023-04-05T10:45:25Z","title_canon_sha256":"a0a0b4527bc9941ccd35fb31215f42aabeab482d8edf7dc53e0e4bcf4a4f77ed"},"schema_version":"1.0","source":{"id":"2304.02356","kind":"arxiv","version":3}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"2304.02356","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"arxiv_version","alias_value":"2304.02356v3","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.2304.02356","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_12","alias_value":"GE5OQUONHKDV","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_16","alias_value":"GE5OQUONHKDVT6XP","created_at":"2026-07-05T07:50:00Z"},{"alias_kind":"pith_short_8","alias_value":"GE5OQUON","created_at":"2026-07-05T07:50:00Z"}],"graph_snapshots":[{"event_id":"sha256:a639136c1c00ef8f1c2340415eeafbef8a6ba61fc357520d079ad105004b4865","target":"graph","created_at":"2026-07-05T07:50:00Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"integrity":{"available":true,"clean":true,"detectors_run":[],"endpoint":"/pith/2304.02356/integrity.json","findings":[],"snapshot_sha256":"c28c3603d3b5d939e8dc4c7e95fa8dfce3d595e45f758748cecf8e644a296938","summary":{"advisory":0,"by_detector":{},"critical":0,"informational":0}},"paper":{"abstract_excerpt":"We introduce a discrete binary tree for pricing contingent claims with the underlying security prices exhibiting history dependence characteristic of that induced by market microstructure phenomena. Example dependencies considered include moving average or autoregressive behavior. Our model is market-complete, arbitrage-free, and preserves all of the parameters governing the historical (natural world) price dynamics when passing to an equivalent martingale (risk-neutral) measure. Specifically, this includes the instantaneous mean and variance of the asset return and the instantaneous probabili","authors_text":"Davide Lauria, Svetlozar T. Rachev, W. Brent Lindquist, Yuan Hu","cross_cats":["q-fin.PR"],"headline":"","license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.MF","submitted_at":"2023-04-05T10:45:25Z","title":"Unifying Market Microstructure and Dynamic Asset Pricing"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"2304.02356","kind":"arxiv","version":3},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:3b5e5db8731bbc8efceef37db841243b8f8b073ae3d716ceabf7bd234608548d","target":"record","created_at":"2026-07-05T07:50:00Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"5840218041bb62300be9fd242c1dd3867d81d5dec637dd5c27dc03f4e9c8f495","cross_cats_sorted":["q-fin.PR"],"license":"http://creativecommons.org/licenses/by-nc-nd/4.0/","primary_cat":"q-fin.MF","submitted_at":"2023-04-05T10:45:25Z","title_canon_sha256":"a0a0b4527bc9941ccd35fb31215f42aabeab482d8edf7dc53e0e4bcf4a4f77ed"},"schema_version":"1.0","source":{"id":"2304.02356","kind":"arxiv","version":3}},"canonical_sha256":"313ae851cd3a8759faef0189b628237b1266a61fe1f671b73fd776650957abda","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"313ae851cd3a8759faef0189b628237b1266a61fe1f671b73fd776650957abda","first_computed_at":"2026-07-05T07:50:00.522429Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-07-05T07:50:00.522429Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"cPDNxE5NnLlHRXRgzi/BSOI63v4t8Nr+fncPm4fQQNtmGcfeByco2wzodPdolgExdcsXbg7FyTau5YRXDB38CA==","signature_status":"signed_v1","signed_at":"2026-07-05T07:50:00.522912Z","signed_message":"canonical_sha256_bytes"},"source_id":"2304.02356","source_kind":"arxiv","source_version":3}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:3b5e5db8731bbc8efceef37db841243b8f8b073ae3d716ceabf7bd234608548d","sha256:a639136c1c00ef8f1c2340415eeafbef8a6ba61fc357520d079ad105004b4865"],"state_sha256":"a58f7228de9415cccc62ee57449e66900db5ce36f44fa47d5ac9c0480c54fddb"},"bundle_signature":{"signature_status":"signed_v1","algorithm":"ed25519","key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signature_b64":"3C6P4LLVIpl04nL4gjyhTwqO4E7KJskuSuP3rK9KkOEz39hbCI+TZrv/+/P7L3eKhtR07rSN6tAkNM+W/93mAw==","signed_message":"bundle_sha256_bytes","signed_at":"2026-08-19T16:11:31.471691Z","bundle_sha256":"1ea38a32596a1650b77b1193738490686d33828018465932c9424eb99a2df083"}}