Optimal Hedging Strategy with Partial Information in Discrete Financial Model

[[abstract]]From the perspectives of the investors, we invest in some assets in discrete time and thus, we usually observe the discrete information from the market. In this paper we give the investors three main results for our discrete financial model. On the other hand, from the perspectives of the financial institutions, we face the problem about how to reduce the risk of the investment with consumptions. Then we have similar conclusion with Follmer and Sondermann (1986)