In this paper, we investigate empirically the well-known put-call parity no-arbitrage relation in the presence of short …

introducing time-dependent parameters to fit arbitrage-free models to selected asset prices. We show, in a simple one … arbitrage-free models should be complemented by close attention to fundamentals, which might include mean reversion, multiple …

across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different … no arbitrage conditions, such as the prediction that individuals must be indifferent between owning and renting. This … paper argues the predictions from these non-spatial, financial no arbitrage conditions are also quite imprecise. Owned homes …

rates with the same maturity. Under standard assumptions this implies the existence of arbitrage opportunities. This paper … presents a model for pricing interest rate swaps where frictions for holding bonds limit arbitrage. I show analytically that …

If experimental subjects arbitrage against market interest rates when making intertemporal allocations of cash, the … arbitrage directly by forcing all transactions with subjects to be instant electronic bank transfers, thus making arbitrage easy … and salient. We also employ four decision frames to test alternative hypotheses. Our evidence contradicts arbitrage …

We examine the causal effect of limits to arbitrage on 11 well-known asset pricing anomalies using the pilot program of …

arbitrage opportunity because they can defer Social Security and have higher income in all future years. Arbitrage exists for …

vehicles such as mutual funds and index futures. Because ETFs rely on arbitrage activity to synchronize their prices with the …

We develop a model of financially constrained arbitrage, and use it to study the dynamics of arbitrage capital … the dynamics of arbitrage activity are self-correcting: following a shock that depletes arbitrage capital, profitability … trades, although arbitrageurs cut their positions in these trades the least. When arbitrage capital is more mobile across …