In this paper we investigate model-independent bounds for exotic options written on a risky asset using infinite-dimensional linear programming methods. Based on arguments from the theory of MongeKantorovich mass-transport we establish a dual version of the problem that has a natural financial interpretation in terms of semi-static hedging. In particular we prove that there is no duality gap.

We explore the connection between the concepts “excess” and “duality gap” from epigraphical analysis and optimization, and the functional analytic concepts of weak* and weak compactness. We also discuss briefly the connection with R. C. James’s “sup theorem”.

In this paper, we establish that Gelfand duality holds between the category of commutative C*-algebras and the category of compact, completely regular locales in any Grothendieck topos. It should be remarked immediately that this result represents the final step in a chain of preliminary papers that have appeared over a period of time. Indeed, the work contained in these papers was originally p...

Duality symmetries for strings moving in non-trivial spacetime backgrounds are analysed. It is shown that, for backgrounds generated from compact WZW and coset models, such duality symmetries are exact to all orders in string perturbation theory. A global treatment of duality symmetries is given, by associating them to the known symmetries of affine current algebras ( affine-Weyl group and exte...

Duality transformations play an important role in modern theoretical physics. In Seiberg-Witten theory [1] electric-magnetic duality (for a recent review of electric-magnetic duality see [2] and references therein) is a basic ingredient in obtaining the exact form of the low-energy effective action. Hence, duality is a crucial tool in studying non-perturbative physics. Any truly non-perturbativ...

The status of gaugino condensation in low-energy string theory is reviewed. Emphasis is given to the determination of the efective action below condensation scale in terms of the 2PI and Wilson actions. We illustrate how the different perturbative duality symmetries survive this simple nonperturbative phenomenon, providing evidence for the believe that these are exact nonperturbative symmetries...

In this paper, we generalize the Tate duality to higher dimensional local fields under some conditions.

In the debate on why firms exist, the question of who chooses between firms and markets and on what basis is rarely addressed. This paper argues that the choice is a core element of the entrepreneurial pursuit of visions or conceptions of business opportunities. To successfully organize resources into the envisioned businesses – be it via firms or markets – resource owners must be coordinated o...

A duality theorem for a pair of Wolfe-type second-order minimax mixed integer symmetric dual programs over cones is proved under separability and η-bonvexity/η-boncavity of the function k(x, y) appearing in the objective, where : . n m k R R R × ֏ Mond-Weir type symmetric duality over cones is also studied under η-pseudobonvexity/ηpseudoboncavity assumptions. Self duality (when the dual proble...