priced by the traditional financial theory based on the hedging portfolio and on the arbitrage-free argument. Some authors …

equilibrium is still characterized by the no-arbitrage condition. …

An elementary arbitrage principle and the existence of trends in financial time series, which is based on a theorem …

existence of such equilibrium is still characterized by the no-arbitrage condition of finance. This result, which extends our …

In his seminal paper on arbitrage and competitive equilibrium in unbounded exchange economies, Werner (Econometrica …, 1987) proved the existence of a competitive equilibrium, under a price no-arbitrage condition, without assuming either … unbounded exchange economies, even if some agents' preferences are satiated, the absence of arbitrage is suffcient for the …

) introduced refined concepts of "no-arbitrage" prices and equilibria, which extended to the asymmetric information. We now present … markets preclude arbitrage, under similar standard conditions, whether agents have symmetric or asymmetric information. This …

] introduced refined concepts of "no-arbitrage" prices and equilibria, which extended to the asymmetric information setting the … numeraire assets, and showed that a no-arbitrage condition characterized the existence of equilibrium, in both asset structures … information models with real assets. Namely, we show that the existence of a pseudo-equilibrium is still guaranteed by a no-arbitrage …