Hens, Thorsten; Herings, P. Jean-Jacques; … - Institut für Volkswirtschaftslehre, …
There is an extensive literature claiming that it is often difficult to make use of arbitrage opportunities in nancial … markets. This paper provides a new reason why existing arbitrage opportunities might not be seized. We consider a world with … arbitrage opportunities, traders should pay attention to all nancial markets simultaneously. It gives a general result stating …
