Arbitrage Theory : Introductory Lectures on Arbitrage-Based Financial Asset Pricing

0. Introduction -- 1. The Linear Structure of Capital Asset Pricing Models -- 1.1. The Basic Idea of Theories of Financial Asset Prices -- 1.2. Cash-Flow Analysis -- 1.3. The Classical CAPM -- 1.4. The CAPM-Version By Black -- 1.5. The CAPM-Version with Non-Marketable Income -- 1.6. The Segmented Markets Model -- 1.7. Synopsis of the Main Results -- The Role Arbitrage Played in the Described Asset Pricing Theories -- 2. Taxonomy of Arbitrage in Financial Markets -- 3. Modelling and First Consequences of Arbitrage and No-Arbitrage Conditions -- 3.1. Notational Conventions; Arbitration and Spreads -- 3.2. Arbitration and No Spreads: Results without Transaction Costs -- 3.3. Free Lunches -- 4. No-Arbitrage Conditions and the Structure of Price Systems -- 4.1. The Law of One Price -- 4.2. Free Lunches and the Law of One Price -- 4.3. Valuation by Arbitrage -- 4.4. The Structure of Asset Prices under No-Arbitrage Conditions -- 5. The Structure of Asset Returns and Mean Variance Efficiency under No-Arbitrage Conditions -- 5.1. The Structure Of Asset Returns -- 5.2. Mean-Variance Efficiency -- 6. Some Selected Applications -- 6.1. Options -- 6.2. Forward ad Futures Contracts -- 6.3. Corporate Financial Policy -- 6.4. Arbitrage Theory And Ross’s Arbitrage Pricing Theory -- List of Assumptions -- Index of Frequently Used Symbols -- References.