, significant arbitrage opportunities over the second halfof the last decade. Yet, terminal elevator operators—perhaps the only … demonstrates conditions under which a profit maximizing warehouseman foregoes available arbitrage. We find that making delivery …

supports these assumptions. An empirical application of the arbitrage equations providesevidence that risk aversion and …

volatility of the underlying component stocks. Traditional finance theory asserts that futures and "cash" markets are connected … by arbitrage mechanism that brings both markets to equilibrium. When arbitrage opportunities arise, arbitrageurs buy … return to theoretical levels. Such mechanical arbitrage trading tends to create large order flows that could be difficult for …

use the advice available tothem to identify arbitrage opportunities, and second how the market willevolve through …

model in the theory of Markov controlled processes in discrete time. We solve some classical optimization problems without …. We are able to prove a factorization of the wealth process. Using this and some renewal theory arguments we can reduce …