Nietert, Bernhard; Wilhelm, Jochen - 2001
\positive" if (Z) 0
holds as long as Z 0 is true.
3
arbitrage and the problem of market I seems to be gone. { Yet, a look at … solve the problems
initially posed.
3.1 Solution to problem I: the assumption of "the" price of an
asset
We know that ….2 Solution to problem II: formulation of no{arbitrage, price
reproduction, and positivity of the pricing rule under short
selling …