Operational formulation of homodyne detection
  We obtain the standard quadrature-phase positive operator-valued measure (POVM) for homodyne detection directly and rigorously from the POVM for photon counting without directly employing the mean field approximation for the local oscillator. In addition we obtain correction terms for the quadrature-phase POVM that are applicable for relatively weak local oscillator field strengths and typical signal states. 
Tomas Tyc and Barry C. Sanders