theoretical and empirical perspectives on allocation of public resources to health vis-a-vis other sectors from the perspective of … reprioritization, one of the modalities for realizing fiscal space for health. Theory and cross-country empirical analyses do not … provide clear, cut explanations for the observed variations in government prioritization of health. Standard economic theory …

solution are also provided. Moreover, we discuss the significance of these processes in the context of arbitrage relative to … the market portfolio within the framework of Stochastic Portfolio Theory. Copyright Springer-Verlag Berlin Heidelberg 2014 …

classical FTAP for a model without transaction costs. We consider one risky asset and show that under the robust no-arbitrage …

with an honest time τ gives rise to arbitrage profits. By relying on the theory of progressive enlargement of filtrations …, we explicitly show that no kind of arbitrage profit can ever be realised strictly before τ, whereas classical arbitrage … starting to trade as soon as τ occurs. We carefully study the behavior of local martingale deflators and consider no-arbitrage …