Results 251 to 260 of about 115,388 (320)

The fundamental theorem of asset pricing with and without transaction costs

open access: yesMathematical Finance, Volume 35, Issue 2, Page 567-609, April 2025.
Abstract We prove a version of the fundamental theorem of asset pricing (FTAP) in continuous time that is based on the strict no‐arbitrage condition and that is applicable to both frictionless markets and markets with proportional transaction costs. We consider a market with a single risky asset whose ask price process is higher than or equal to its ...
Christoph Kühn
wiley   +1 more source

Macroscopic Market Making Games

open access: yesMathematical Finance, EarlyView.
ABSTRACT Building on the macroscopic market making framework as a control problem, this paper investigates its extension to stochastic games. In the context of price competition, each agent is benchmarked against the best quote offered by the others. We begin with the linear case.
Ivan Guo, Shijia Jin
wiley   +1 more source

Evolutionary legacies structure the geography of seagrass traits across the world's oceans

open access: yesNew Phytologist, EarlyView.
Summary Traits modulate species' ability to track shifts in climate, yet the extent to which traits have been shaped by the contemporary environment and/or historical processes remains poorly understood. Here, we fill this gap for the world's seagrasses, habitat‐forming species that provide critical ecosystem services.
Nestor E. Bosch   +2 more
wiley   +1 more source

Weak Nuclear Divergence Despite Pronounced Mitochondrial Divergence Within a Widespread Desert‐Inhabiting Palearctic Lark (Aves: Alaudidae)

open access: yesZoologica Scripta, EarlyView.
ABSTRACT The Bar‐tailed Lark Ammomanes cinctura is a polytypic bird species with a wide distribution. One of its three subspecies, A. c. arenicolor, has previously been found to show deep mitochondrial divergence between its geographically most distant populations, from Morocco and Saudi Arabia, respectively.
Zongzhuang Liu   +9 more
wiley   +1 more source

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