A new look at some basic concepts in arbitrage pricing theory

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The notion of No Free Lunch with Vanishing Risk (or NFLVR in short) w.r.t. admissible strategies depends on the choice of numeraire. Yan introduced the notion of allowable strategy and showed that condition of NFLVR w.r.t. allowable strategies is independ
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[1]Gilbert, J. E., Hogan, J. A., Lakey, J. D., Atomic decomposition of divergence-free Hardy spaces, Mathematica Moraviza, 1997, Special Volume, Proc. IWAA: 33-52
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