-Version with Non-Marketable Income -- 1.6. The Segmented Markets Model -- 1.7. Synopsis of the Main Results -- The Role Arbitrage … Played in the Described Asset Pricing Theories -- 2. Taxonomy of Arbitrage in Financial Markets -- 3. Modelling and First … Consequences of Arbitrage and No-Arbitrage Conditions -- 3.1. Notational Conventions; Arbitration and Spreads -- 3.2. Arbitration …

level of spatially separated commodity markets. At this level, price arbitrage and local disparities in production and …

structure classifies rich versus cheap bonds. Convertible bond arbitrage trades, where the trader buys the bond and hedges a … combination of the underlying assets, are subsequently identified. Each bond’s relative cheapness translates to its arbitrage …

I study how (VaR-based) financial constraints affect liquidity and welfare under different structures of the arbitrage … provide liquidity, lowering other investors' welfare. However, when capital is concentrated among arbitrageurs with market … power, introducing constraints can make everyone better off and increase liquidity. Further, alternative constraints (fixed …