求助callable bond valuation valuation, american, 东西, current, 168

ff8789

fixed income notes的168页写的是: lesser of the call price or the computed value

derivatives notes的17页写：If you need to value an american option, the value at any node will be equal to the greater of the present value of the future payoffs or the current intrinsic value.


这两处不一致啊，究竟是lesser还是greater？callable bond和call on bond是一个东西吗？谢谢

ff8789

lz想通了，两个不一样的东西。