Sass, Jörn; Schäl, Manfred - In: Decisions in Economics and Finance 37 (2014) 2, pp. 195-234
In a discrete-time incomplete financial market with proportional transaction costs and with independent and bounded … to be adapted to the concept of consistent price systems for markets with transaction costs. Moreover, again as in the … some specific dynamic portfolio called the numeraire portfolio as in the classical case of markets without transaction …