[{"abstract":[{"lang":"eng","text":"We reconsider the microeconomic foundations of financial economics under Knightian Uncertainty. In a general framework, we discuss the absence of arbitrage, its\r\nrelation to economic viability, and the existence of suitable nonlinear pricing ex-\r\npectations. Classical financial markets under risk and no ambiguity are contained\r\nas special cases, including various forms of the Efficient Market Hypothesis. For\r\nKnightian uncertainty, our approach unifies recent versions of the Fundamental\r\nTheorem of Asset Pricing under a common framework."}],"publication_status":"published","locked":"1","intvolume":" 575","keyword":["Robust Finance","No Arbitrage","Viability","Knightian Uncertainty"],"accept":"1","file":[{"file_size":"501418","access_level":"open_access","creator":"weingarten","success":"1","date_updated":"2017-07-24T08:47:04Z","file_id":"2912968","file_name":"IMW_working_paper_575.pdf","open_access":"1","relation":"main_file","date_created":"2017-07-24T08:18:55Z","content_type":"application/pdf"}],"place":"Bielefeld","date_created":"2017-07-24T08:23:07Z","publisher":"Center for Mathematical Economics","year":"2017","oa":1,"status":"public","_id":"2912963","date_updated":"2018-07-24T13:01:48Z","page":"46","file_date_updated":"2017-07-24T08:47:04Z","series_title":"Center for Mathematical Economics Working Papers","type":"working_paper","urn":"urn:nbn:de:0070-pub-29129630","ddc":["330"],"citation":{"mla":"Burzoni, M., Riedel, Frank, and Soner, H.M. *Viability and arbitrage under Knightian Uncertainty*. Bielefeld: Center for Mathematical Economics, 2017. Center for Mathematical Economics Working Papers. 575.","dgps":"Burzoni, M., Riedel, F. & Soner, H.M. (2017). *Viability and arbitrage under Knightian Uncertainty* (Center for Mathematical Economics Working Papers). Bielefeld: Center for Mathematical Economics.

","default":"Burzoni M, Riedel F, Soner HM (2017) Center for Mathematical Economics Working Papers; 575.

Bielefeld: Center for Mathematical Economics.","chicago":"Burzoni, M., Riedel, Frank, and Soner, H.M. 2017. *Viability and arbitrage under Knightian Uncertainty*. Vol. 575. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.

","ieee":" M. Burzoni, F. Riedel, and H.M. Soner, *Viability and arbitrage under Knightian Uncertainty*, Center for Mathematical Economics Working Papers, vol. 575, Bielefeld: Center for Mathematical Economics, 2017.","apa_indent":"Burzoni, M., Riedel, F., & Soner, H. M. (2017). *Viability and arbitrage under Knightian Uncertainty* (Center for Mathematical Economics Working Papers, 575). Bielefeld: Center for Mathematical Economics.

","ama":"Burzoni M, Riedel F, Soner HM. *Viability and arbitrage under Knightian Uncertainty*. Center for Mathematical Economics Working Papers. Vol 575. Bielefeld: Center for Mathematical Economics; 2017.","bio1":"Burzoni M, Riedel F, Soner HM (2017)

*Viability and arbitrage under Knightian Uncertainty*. Center for Mathematical Economics Working Papers; 575.

Bielefeld: Center for Mathematical Economics.","lncs":" Burzoni, M., Riedel, F., Soner, H.M.: Viability and arbitrage under Knightian Uncertainty. Center for Mathematical Economics Working Papers, 575. Center for Mathematical Economics, Bielefeld (2017).","frontiers":"Burzoni, M., Riedel, F., and Soner, H. M. (2017). Viability and arbitrage under Knightian Uncertainty. *Center for Mathematical Economics Working Papers*, 575, Bielefeld: Center for Mathematical Economics.","wels":"Burzoni, M.; Riedel, F.; Soner, H. M. (2017): Viability and arbitrage under Knightian Uncertainty. Bielefeld: Center for Mathematical Economics.","harvard1":"Burzoni, M., Riedel, F., & Soner, H.M., 2017. *Viability and arbitrage under Knightian Uncertainty*, Center for Mathematical Economics Working Papers, no.575, Bielefeld: Center for Mathematical Economics.","aps":" M. Burzoni, F. Riedel, and H. M. Soner, Viability and arbitrage under Knightian Uncertainty, Center for Mathematical Economics Working Papers (Center for Mathematical Economics, Bielefeld, 2017).","apa":"Burzoni, M., Riedel, F., & Soner, H. M. (2017). *Viability and arbitrage under Knightian Uncertainty* (Center for Mathematical Economics Working Papers, 575). Bielefeld: Center for Mathematical Economics.","angewandte-chemie":"M. Burzoni, F. Riedel, and H. M. Soner, *Viability and arbitrage under Knightian Uncertainty*, Center For Mathematical Economics, Bielefeld, **2017**."},"edit_mode":"expert","title":"Viability and arbitrage under Knightian Uncertainty","volume":"575","publication_identifier":{"issn":["0931-6558"]},"department":[{"_id":"10053"}],"first_author":"Burzoni, M.","jel":["D53","G10"],"author":[{"full_name":"Burzoni, M.","last_name":"Burzoni","first_name":"M."},{"first_name":"Frank","last_name":"Riedel","id":"4244291","full_name":"Riedel, Frank"},{"first_name":"H.M.","last_name":"Soner","full_name":"Soner, H.M."}],"language":[{"iso":"eng"}]}]