# Verify the accuracy of a model for exotic option if there is no enough data of market price every?

How to effectively verify the accuracy of a model(may be complicate) for exotic option, if there is no enough data of market price? Is there any related reference?

• Adding to @Quantuple's answer: if you can derive put-call parity relations for variants of your exotic option (or degenerate the option into lighter options that admit parity relations), check whether your model verifies these parity relations. The advantage of this test is that you do not necessarily need real market data to perform it: e.g. you can verify the Black-Scholes model enforces put-call parity by simply inputting arbitrary values of $S_0$, $\sigma$, $r$, etc. – Daneel Olivaw Sep 29 '17 at 11:11