for the annuity puzzle, arbitrage between the annuity and life insurance markets, and speculation on expected longevity …

this result for the annuity puzzle, arbitrage between the annuity and life insurance markets, and speculation on expected …

to increases in open interest positions in the corn futures markets, indicating that active arbitrage activity takes …

” for five currency combinations. The co-integration analysis suggests that speculation has played a minor role and … arbitrage played a major role in determining the forward exchange rate of the euro. …

the concept of such operations of risk transfer leads to modifications in the concept of speculation. Arbitrage operations … intensify, but their frontiers with speculation are not always clear. Both make intense use of leverage which can result in …

to increases in open interest positions in the corn futures markets, indicating that active arbitrage activity takes …

to increases in open interest positions in the corn futures markets, indicating that active arbitrage activity takes …

The fact that all arbitrage opportunities are exploited is a fundamental assumption of option pricing theory. Empirical … and experimental studies of investment decisions, however, found that arbitrage is not completely exploited by individuals … types are evaluated separately. An open question, however, is whether unexploited arbitrage opportunities will also be …