Algebraic Properties of Arbitrage: An Application to Additivity of Discount Functions
Background: This paper aims to characterize the absence of arbitrage in the context of the Arbitrage Theory proposed by Kreps (1981) and Clark (2000) which involves a certain number of well-known financial markets. More specifically, the framework of this model is a linear (topological) space X in w...
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| Format: | info:eu-repo/semantics/article |
| Language: | English |
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MDPI
2020
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| Online Access: | http://hdl.handle.net/10835/7471 |