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Market viability via absence of arbitrage of the first kind
Arbitrage of the first kind cheap thrills fundamental theorem of asset pricing equivalent
2010/10/29
In a semimartingale financial market model, it is shown that there is equivalence be-tween absence of arbitrage of the first kind (a weak viability condition) and the existence of a strictly positive ...
The paper argues that an economy’s industry/technology structure is endogenously determined by the economy’s endowment structure. For the convergence to occur, the government of an LDC should target t...
AbstractThe paper presents a simple theoretical model to explain some phenomena arising from the privatization of state-owned enterprises in transition economies. By the incorporation of the concept o...