英文标题：
《Arbitrage theory without a num\\\'eraire》
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作者：
Michael R. Tehranchi
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最新提交年份：
2015
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英文摘要：
This note develops an arbitrage theory for a discrete-time market model without the assumption of the existence of a num\\\'eraire asset. Fundamental theorems of asset pricing are stated and proven in this context. The distinction between the notions of investment-consumption arbitrage and pure-investment arbitrage provide a discrete-time analogue of the distinction between the notions of absolute arbitrage and relative arbitrage in the continuous-time theory. Applications to the modelling of bubbles is discussed.
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中文摘要：
本文发展了一个离散时间市场模型的套利理论，该模型不假设存在一个非固定资产。在此背景下，资产定价的基本定理得到了阐述和证明。投资-消费套利和纯投资套利概念之间的区别提供了连续时间理论中绝对套利和相对套利概念之间区别的离散时间模拟。讨论了气泡模型的应用。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：Mathematical Finance 数学金融学
分类描述：Mathematical and analytical methods of finance, including stochastic, probabilistic and functional analysis, algebraic, geometric and other methods
金融的数学和分析方法，包括随机、概率和泛函分析、代数、几何和其他方法
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