bank intermediation for their arbitrage strategies. …

constraints disincentivize regulated institutions not only to engage in arbitrage activity themselves but also to provide leverage …

We apply Geometric Arbitrage Theory to obtain results in mathematical finance for credit markets, which do not need … dynamics for credit market allowing for arbitrage possibilities. Moreover, arbitrage credit bubbles for both base credit assets … and credit derivatives are explicitly computed for the market dynamics minimizing the arbitrage …

Regulatory arbitrage — defined as the manipulation of regulatory treatment for the purpose of reducing regulatory costs … of regulatory arbitrage in the area of copyright law. This article offers a new scholarly account of the phenomenon … herein referred to as “copyright arbitrage.” Where economic arbitrage is often considered net-neutral, copyright arbitrage is …

In this work, we identify the most general measure of arbitrage for any market model governed by Ito processes. We show … that our arbitrage measure is invariant under changes of numeraire and equivalent probability. Moreover, such measure has a … geometrical interpretation as a gauge connection. The connection has zero curvature if and only if there is no arbitrage. We prove …

rate to use in common valuation formulas. We apply arbitrage theory in a riskless, as well as risky, (multi-period) economy …'s initial endowment.With tax liabilities that are a convex function of the tax base we identify a new kind of arbitrage: trading … ‘bounded' arbitrage opportunities.Going beyond earlier research, we are able to give a complete characterization based on …

In a discrete-time setting, we study arbitrage concepts in the presence of convex trading constraints. We show that … solvability of portfolio optimization problems is equivalent to absence of arbitrage of the first kind, a condition weaker than … classical absence of arbitrage opportunities. We center our analysis on this characterization of market viability and derive …

sufficient conditions that let the approximation degenerates to the traditional Ross' arbitrage pricing theory are provided …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 …