Contact
How to shop
Delivery
Shopping guide
Markets with Transaction Costs
English
222 b
Delivery to Austria
Up to 30 days for returns
Customers also purchased
/
Book
4.19
€
The central mathematical concept in the theory of frictionless market is a martingale measure. §The authors argue that for financial markets with proportional transaction costs this concept should be replaced by the concept of consistent price system which is a martingale evolving in the duals to the solvency cones. The book presents a unified treatment of various problems arising in the theory of financial markets with friction. It gives a succinct account of arbitrage theory for financial markets with and without transaction costs based on a synthesis of ideas from the finite-dimensional geometry, functional analysis, and stochastic processes. For practitioners working with low-liquid markets the chapter on Leland s approximate hedging strategies will be of especial interest.§The book is supplemented by an appendix that provides a toolbox containing auxiliary results from various branches of mathematics used in the proofs.
About the book
English
Categories
Give this book today
It's easy
1 Add to cart and choose Deliver as present at the checkout 2 We'll send you a voucher 3 The book will arrive at the recipient's addressYou might also be interested in
/
Hardback
37.79
€
Hi! I'm Libroamiko, your book advisor.
How can I help you?