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No-arbitrage concepts in topological vector lattices

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 نشر من قبل Stefan Tappe
 تاريخ النشر 2020
  مجال البحث
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We provide a general framework for no-arbitrage concepts in topological vector lattices, which covers many of the well-known no-arbitrage concepts as particular cases. The main structural condition we impose is that the outcomes of trading strategies with initial wealth zero and those with positive initial wealth have the structure of a convex cone. As one consequence of our approach, the concepts NUPBR, NAA$_1$ and NA$_1$ may fail to be equivalent in our general setting. Furthermore, we derive abstra

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