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Hard · Stochastic Calculus · Quant Trader interview question · stochastic-processes, markov-property, strong-markov-property, stopping-times
Consider a stock price $S_t$ modeled by a stochastic process. The Markov property states that the future state of the process depends only on the present state, not on the past. The Strong Markov property extends this concept. Which of the following statements best describes the difference between the Markov property and the Strong Markov property, and the types of times at which the Strong Markov property applies?