We examine how institutional ownership structure gives rise to limits to arbitrage through its impact on short … costs of shorting, and higher arbitrage risk. These constraints limit the ability of arbitrageurs to take short positions …

In this paper, we challenge the notion that exploiting “riskless” arbitrage is riskless. We show that if rational … agents face uncertainty about completing their arbitrage portfolios, then arbitrage is limited even in markets with perfect … substitutes and convertibility. We call this phenomenon “execution risk” in arbitrage exploitation. Using a simple model, we …

traders arbitrage, thus restricting producers' market power. Using detailed individual data, I examine physical and financial …

This Article presents a skeptical, though not dismissive, view of appraisal arbitrage. While there are benefits … associated with appraisal litigation, the Article introduces both economic theory and empirical evidence demonstrating that … increased levels of appraisal arbitrage also create efficiency costs and distributional concerns. Given the need to balance …

The price-amenity arbitrage is a cornerstone of spatial economics, as the response of land and house prices to shifts … amenities. With informational, time, and cash constraints, households' ability to arbitrage across locations with different …

We give an algorithm and source code for a cryptoasset statistical arbitrage alpha based on a mean-reversion effect …://ssrn.com/abstract=3245641. Using empirical data, we identify the cross-section of cryptoassets for which this altcoin-Bitcoin arbitrage alpha is …

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 …

I argue that arbitrage mistranslates factor information from ETFs to constituent securities and distorts comovement … but by their portfolio weights, causing securities to comove with the ETF based on a measure I call arbitrage sensitivity … – a combination of portfolio weight and price impact sensitivity – rather than fundamental exposures. Arbitrage …

An emerging literature relies on an index of limits of arbitrage in fixed-income markets. We analyze the benefits of an … index that is model-free, robust and intuitive. This new index strengthens the evidence that limits of arbitrage proxy for … of arbitrage because it bypasses a noisy estimation step. Relative value indices in the US, the UK, Japan, Germany, Italy …

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 …