significantly reduce the potential arbitrage profits. Positive shocks to market-wide liquidity reduce arbitrage costs and accelerate …

The present paper considers a class of financial market with transaction costs and constructs a geometric no-arbitrage … analysis frame. Then, this paper arrives at the fact that this financial market is of no-arbitrage if and only if the curvature … 2-form of a specific connection is zero. Furthermore, this paper derives the fact that the no-arbitrage condition for …

We give characterizations of asymptotic arbitrage of the first and second kind and of strong asymptotic arbitrage for a … asymptotic arbitrage without transaction costs; but with transaction costs there does not exist any form of asymptotic arbitrage …