Value Premium in the Chinese Stock Market: Free Lunch or Paid Lunch?
نویسندگان
چکیده
منابع مشابه
Market Free Lunch and Large Financial Markets
The main result of the paper is a version of the fundamental theorem of asset pricing (FTAP) for large financial markets based on an asymptotic concept of no market free lunch for monotone concave preferences. The proof uses methods from the theory of Orlicz spaces. Moreover, various notions of no asymptotic arbitrage are characterized in terms of no asymptotic market free lunch; the difference...
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526 NOTICES OF THE AMS VOLUME 51, NUMBER 5 The notion of arbitrage is crucial in the modern theory of finance. It is the cornerstone of the option pricing theory due to F. Black and M. Scholes (published in 1973, Nobel Prize in Economics 1997). The underlying idea is best explained by telling a little joke. A finance professor and a normal person go on a walk, and the normal person sees a €100 ...
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Some philosophers (see (Armstrong, 1997), (Cameron, 2008), (Melia, 2005), and (Schaffer, 2007, 2009, 2010a)) have recently suggested that explanations of a certain sort can mitigate our ontological commitments. The explanations in question, grounding explanations, are those that tell us what it is in virtue of which an entity exists and has the features it does. These philosophers claim that th...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2010
ISSN: 1556-5068
DOI: 10.2139/ssrn.1909253