Fig. 3
\(\left (\text {CDF of } \tilde {Z}_{t}\right)\) : CDF of \(\tilde {Z}_{t}\) (circles) and Zt (no marker) where \(\tilde {Z}\) is the Φ-martingale with Z0=0.5 and t in 0.5 (blue), 5 (red) and 40 (magenta) years. a (Z0=50%, η=25%, λ=20%), b (Z0=50%η=15%, λ=50%), c (Z0=35%η=15%, λ=50%), and d (Z0=35%, η=25%, λ=5%)