... ~b(t, p, ~, ~); (4. 3) ~(t,p,x, Tr) ~=Tra(t,p,x, Tc), for (t,p,x,~) E [0, T] • IR 3. We can rewrite (4. 1) and (4. 2) as ' Po(t) ~ foo t } = exp/ r(s)ds , /o (4. 4) P(t) = p+ P(s){b(s,P(s),X(s),Tr(s))ds ... (Tr, C) and the initial values p > 0 and x >_ 0 the SDEs (4. 4) and (4. 5) have unique strong solutions, which will be denoted by P = pp,z,~,c and X = X p,~,~,C, whenever the dependence ... that of Theorem 3 .4, so we only sketch it. Let (tl, Xl) and (t2, x2) be given, and let )( = X t~'~ -X t2,~. Assume first tl > t2, and recall the norms I1" IIt,x and ]'[t,~,~...