A General Approach to the Arbitrage Pricing Theory (APT)
Copyright policy )A General Approach to the Arbitrage Pricing Theory (APT)
The APT is studied in economies in which the choice space is an arbitrary normed vector space. No notion of positivity of the price functional is needed in formulating the theory. The definition of an approximate factor structure in the style of \textit{G. Chamberlain} and \textit{M. Rothschild} [ibid. 51, 1281-1304 (1983; Zbl 0523.90017)] is generalized to general normed spaces, and the no arbitrage assumption is replaced by the assumption that the price functional is continuous. The proof of the main theorem is simpler than the proofs in the existing less general versions.
approximate factor structure, arbitrage pricing, Microeconomic theory (price theory and economic markets), normed vector space
approximate factor structure, arbitrage pricing, Microeconomic theory (price theory and economic markets), normed vector space
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).30 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
Citations provided by BIP!Popularity provided by BIP!