Finance without probabilistic prior assumptions

Riedel F (2011) Working Papers. Institute of Mathematical Economics; 450.
Bielefeld: Center for Mathematical Economics.

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Abstract
We develop the fundamental theorem of asset pricing in a probability- free infinite-dimensional setup. We replace the usual assumption of a prior probability by a certain continuity property in the state variable. Probabilities enter then endogenously as full support martingale measures (instead of equivalent martingale measures). A variant of the Harrison-Kreps-Theorem on viability and no arbitrage is shown. Finally, we show how to embed the superhedging problem in a classical infinite-dimensional linear programming problem.
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Riedel F. Finance without probabilistic prior assumptions. Working Papers. Institute of Mathematical Economics. Vol 450. Bielefeld: Center for Mathematical Economics; 2011.
Riedel, F. (2011). Finance without probabilistic prior assumptions (Working Papers. Institute of Mathematical Economics, 450). Bielefeld: Center for Mathematical Economics.
Riedel, F. (2011). Finance without probabilistic prior assumptions. Working Papers. Institute of Mathematical Economics, 450, Bielefeld: Center for Mathematical Economics.
Riedel, F., 2011. Finance without probabilistic prior assumptions, Working Papers. Institute of Mathematical Economics, no.450, Bielefeld: Center for Mathematical Economics.
F. Riedel, Finance without probabilistic prior assumptions, Working Papers. Institute of Mathematical Economics, vol. 450, Bielefeld: Center for Mathematical Economics, 2011.
Riedel, F.: Finance without probabilistic prior assumptions. Working Papers. Institute of Mathematical Economics, 450. Center for Mathematical Economics, Bielefeld (2011).
Riedel, Frank. Finance without probabilistic prior assumptions. Bielefeld: Center for Mathematical Economics, 2011. Working Papers. Institute of Mathematical Economics. 450.
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