What is view equivalence?

• Two schedules S1 and S2 are said to be view-equivalent when the following conditions are satisfied:
  
  If the transaction T_i in S1 reads an initial value for object X, so does the transaction T_i in S2.
  If the transaction T_i in S1 reads the value written by transaction T_j in S1 for object X, so does the transaction T_i in S2.
  If the transaction T_i in S1 is the final transaction to write the value for an object X, so is the transaction T_i in S2.
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