A lattice-based model is a model used to value derivatives; it uses a binomial tree to show different paths the price of the underlying asset may take.

By integrating NPI imprecise probability and expectation with the classical financial binomial tree model, two rational decision routes for asset trading and for European option trading are suggested.

Lishang Jiang, Min Dai, Convergence of Binomial Tree Methods for European/American Path-Dependent Options, SIAM Journal on Numerical Analysis, Vol. 42, No. 3 (2005), pp. 1094-1109 ...