In this paper, we use tools from the theory of partially ordered normed linear spaces, especially the bases of cones. This work extends the well-known results for convex and coherent risk measures. Its linchpin consists in the replacement of the riskless bond by some interior point in the cone...

In this paper, we modify the arbitrage-free interval of prices for a non-marketed contingent claim in the finite event-tree model of financial markets, according to the perfect hedging approach being well-known for the two-period model. We prove the existence of solution to the corresponding...