2026-07-072026-07-07http://salesiana.dossiersoluciones.com/handle/123456789/73952How an economic agent (a firm, an investor or a financial market) evaluates a contingent claim, say a European type of derivatives X, with maturity t? In this paper we study a mechanism of dynamic expectations and evaluations. We give the axiomatic conditions of the time consistency. We prove that, under a domination condition, a time consistent nonlinear evaluation is in fact a g-expectation, i.e., it is completely determined a BSDE in which the generator is a given function g.46 pagesProbabilityFunctional Analysis60H10text