论具有凹交易成本的一般金融市场
On general financial markets with concave transactions costs
AI总结:
本文研究了具有凹交易成本的金融市场,给出了无套利的充分条件,并引入渐近套利概念分析此类市场。
摘要:
本文研究具有凹交易成本的市场,该成本以凹的方式依赖于交易量。这是小投资者的典型情况,常见于外汇和房地产市场。我们给出了无套利的充分条件。引入了渐近套利的新概念,并用于研究上述市场。
英文摘要:
In the paper we study markets with concave transaction costs which depend in a concave way on the volume of transaction. This is typical situation in the case of small investors, which commonly appears in currency and real estate markets. Sufficient conditions for absence of arbitrage are formulated. New notion of asymptotic arbitrage is introduced and used to study the above mentioned markets.
机构、总结、中文摘要均由AI分析而来,可能存在错误,请以论文正文为准。