Arbitrage without borrowing or short selling?
نویسندگان
چکیده
منابع مشابه
Arbitrage without borrowing or short selling?
We show that a trader, who starts with no initial wealth and is not allowed to borrow money or short sell assets, is theoretically able to attain positive wealth by continuous trading, provided that she has perfect foresight of future asset prices, given by a continuous semimartingale. Such an arbitrage strategy can be constructed as a process of finite variation that satisfies a seemingly inno...
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ژورنال
عنوان ژورنال: Mathematics and Financial Economics
سال: 2016
ISSN: 1862-9679,1862-9660
DOI: 10.1007/s11579-016-0180-x