Description

Book Synopsis
Develops a mathematical theory for finance, based on an intuitive absence-of-arbitrage principle. This posits that it should not be possible to fund a non-trivial liability, starting with initial capital arbitrarily near zero. The principle is easy-to-test in specific models, as it is described in terms of the underlying market characteristics.

Table of Contents
  • The market
  • Numeraires and market viability
  • Financing optimization maximality
  • Ramifications and extensions
  • Elements of functional and convex analysis
  • Bibliography
  • Index

Portfolio Theory and Arbitrage A Course in

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    Order before 4pm today for delivery by Fri 26 Jun 2026.

    A Paperback by Ioannis Karatzas, Constantinos Kardaras

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      Publisher: MP-AMM American Mathematical
      Publication Date: 2/28/2022 12:00:00 AM
      ISBN13: 9781470465988, 978-1470465988
      ISBN10: 1470465981

      Description

      Book Synopsis
      Develops a mathematical theory for finance, based on an intuitive absence-of-arbitrage principle. This posits that it should not be possible to fund a non-trivial liability, starting with initial capital arbitrarily near zero. The principle is easy-to-test in specific models, as it is described in terms of the underlying market characteristics.

      Table of Contents
      • The market
      • Numeraires and market viability
      • Financing optimization maximality
      • Ramifications and extensions
      • Elements of functional and convex analysis
      • Bibliography
      • Index

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