Inconsequential arbitrage
The paper deals with the concept of arbitrage, namely with the one of inconsequential arbitrage, in the framework of a model with short-sales and half-lines in indifference surfaces. It is shown that under certain conditions the inconsequential arbitrage, the existence of a Pareto optimal allocation, and compactness of the set of utility possibilities are equivalent. It is also shown under which conditions the inconsequential arbitrage is necessary and sufficient for the existence of an equilibrium. The concept and properties of the inconsequential arbitrage are compared to the conditions limiting the arbitrage known from the previous literature referred to in the paper.
- A necessary and sufficient condition for the compactness of individually rational and feasible outcomes and the existence of an equilibrium
- A note on lemma 1 in Bergstrom's How to discard free disposability at no cost
- A topological invariant for competetive markets
- An equilibrium existence theorem for a general model without ordered preferences
- Arbitrage and Existence of Equilibrium in Infinite Asset Markets
- Arbitrage and global cones: another counterexample
- Arbitrage and the Existence of Competitive Equilibrium
- Asset Market Equilibrium with Short-Selling
- Cone convexity, cone extreme points, and nondominated solutions in decision problems with multiobjectives
- Convex Analysis
- General equilibrium in asset markets with or without short-selling
- How to discard 'free disposability' - at no cost
- scientific article; zbMATH DE number 3827532 (Why is no real title available?)
- scientific article; zbMATH DE number 1784401 (Why is no real title available?)
- Inconsequential arbitrage
- Increasing cones, recession cones and global cones
- On equilibrium in Hart's securities exchange model
- On the different notions of arbitrage and existence of equilibrium
- Overlapping expectations and Hart's conditions for equilibrium in a securities model
- Temporary General Equilibrium in a Sequential Trading Model with Spot and Futures Transactions
- Temporary General Equilibrium Theory
- The partnered core of a game without side payments
- The partnered core of an economy and the partnered competitive equilibrium
- Unbounded exchange economies with satiation: How far can we go?
- Inconsequential arbitrage
- Asset market equilibrium in L^p spaces with separable utilities
- Existence of equilibrium on asset markets with a countably infinite number of states
- Arbitrage and equilibrium in economies with short-selling and ambiguity
- The geometry of arbitrage and the existence of competitive equilibrium.
- Equilibrium of a production economy with non-compact attainable allocations set
- Risky arbitrage, asset prices, and externalities
- Asset market equilibrium with short-selling and differential information
- Hedging, Pareto optimality, and good deals
- Increasing cones, recession cones and global cones
- Equilibrium theory with satiable and non-ordered preferences
- Overlapping risk adjusted sets of priors and the existence of efficient allocations and equilibria with short-selling
- Capital market equilibrium without riskless assets: heterogeneous expectations
- Arbitrage and equilibrium in unbounded exchange economies with satiation
- Equilibrium theory with unbounded consumption sets and non-ordered preferences. I: Non-satiation
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