Allouch, Nizar; Le Van, Cuong; Page, Jr. Frank H. - Department of Economics, University of Warwick - 2001
We present the basic geometry of arbitrage and use this basic geometry to shed new light on the relationships between various noarbitrage conditions found in the literature. For example, under very mild conditions of Hart (1974) and Werner (1987) are equivalent and imply the compactness of the...