If co-existing parallel markets are efficient, then arbitrage will maintain a correct pricing relationship. A related … transaction costs) is introduced, in which price differences are studied using levels of arbitrage activity. For the empirical …-the-counter system). In particular, the degree of arbitrage activity is studied for different segments of the PSE and the evolution of …

A game-theoretic approach to the investigation of arbitrage opportunities based on combinations of exotic wagers for …

etats du monde, dans les memes conditions. Dans un tel modele, nous montrons que l'absence d'arbitrage implique l …

equilibrium prices are determined, may still refine their information by eliminating sequentially ¡°arbitrage state(s)¡±, namely …, the state(s) which would grant the agent an arbitrage, if realizable. …

Guasoni (2006) introduced a simple condition for the absence of arbitrage opportunities. In this note we show that his … results remain valid under a weaker notion of arbitrage which arises by excluding liquidation costs from the value process of …

This article finds that arbitrage was possible in 2 of the 175 Japanese thoroughbred races even after taking account of … (a) the size of the minimum betting unit and (b) the negative effect of arbitrage on the odds. The guaranteed profits in …