What would you like to understand?

The constant expectation property states that the unconditional expectation of a martingale does not change over time and remains equal to its initial value. Formally, $\mathbb{E}[M_n] = M_0$ for all $n$.

Conditions: Applies for all times $n$ in the discrete-time setting.; This is the unconditional expectation, not the conditional one.

The constant expectation property states that the unconditional expectation of a martingale does not change over time and remains equal to its initial value. Formally, $\mathbb{E}[M_n] = M_0$ for all $n$.

Conditions: Applies for all times $n$ in the discrete-time setting.; This is the unconditional expectation, not the conditional one.