logic shows that the best available information can often leave decision makers less certain about future events. And for …

equivalence of absence of arbitrage, the existence of a positive linear pricing rule, and the existence of an optimum for some …

This paper studies the implications of arbitrage in a large asset market under conditions of (Knightian) uncertainty ….First, I adapt the notion of arbitrage to a market in which the assets' returns are affected by uncertainty across probability … sufficient conditions that let the approximation degenerates to the traditional Ross' arbitrage pricing theory are provided …

's value investing paradigm. We propose that if, instead of getting fixated on investors' optimal rational decision making, we … adopt Benjamin Graham's value investing perspective which explicitly acknowledges that investor decision making is by … definition imperfect due to psychological biases, we could derive better investment decision making processes …

decision making, we adopt Benjamin Graham's value investing perspective which explicitly acknowledges that investor decision … decision making processes …