Matches in SemOpenAlex for { <https://semopenalex.org/work/W2051278218> ?p ?o ?g. }
Showing items 1 to 92 of
92
with 100 items per page.
- W2051278218 endingPage "65" @default.
- W2051278218 startingPage "65" @default.
- W2051278218 abstract "One of the most fundamental results in finance is the equivalence of a no-arbitrage condition to the existence of a pricing operator in markets without transaction costs (see Ross (1978)). Garman and Ohlson (1981) extended this to markets with proportional transaction costs. The current paper further extends this result to markets with realistic (and nonproportional) transaction costs. These costs include all investors' market-impact and short-borrowing costs, large investors' institutional commissions, and for small investors only the additional cost of retail commissions. They are functions of the value of the trade and have increasing, increasing, constant, and decreasing marginal rates, respectively, in that value. Garman and Ohlson showed that equilibrium prices in their notion of a corresponding cost-free market, plus a certain factor, prevail under equilibrium in markets with proportional transaction costs. The current paper extends this to realistic transaction costs and establishes the functional relation between this factor and the form of such costs." @default.
- W2051278218 created "2016-06-24" @default.
- W2051278218 creator A5062862008 @default.
- W2051278218 creator A5070599878 @default.
- W2051278218 date "1993-03-01" @default.
- W2051278218 modified "2023-09-25" @default.
- W2051278218 title "No Arbitrage and Valuation in Markets with Realistic Transaction Costs" @default.
- W2051278218 cites W1979986072 @default.
- W2051278218 cites W1985808284 @default.
- W2051278218 cites W1991293148 @default.
- W2051278218 cites W1996075536 @default.
- W2051278218 cites W2005093576 @default.
- W2051278218 cites W2010681793 @default.
- W2051278218 cites W2018069514 @default.
- W2051278218 cites W2021070008 @default.
- W2051278218 cites W2021437927 @default.
- W2051278218 cites W2033308164 @default.
- W2051278218 cites W2082211306 @default.
- W2051278218 cites W2098931023 @default.
- W2051278218 cites W2103674819 @default.
- W2051278218 cites W2116830990 @default.
- W2051278218 cites W2124447541 @default.
- W2051278218 cites W2130428347 @default.
- W2051278218 cites W2133968448 @default.
- W2051278218 cites W2150891780 @default.
- W2051278218 cites W3123376915 @default.
- W2051278218 doi "https://doi.org/10.2307/2331151" @default.
- W2051278218 hasPublicationYear "1993" @default.
- W2051278218 type Work @default.
- W2051278218 sameAs 2051278218 @default.
- W2051278218 citedByCount "30" @default.
- W2051278218 countsByYear W20512782182012 @default.
- W2051278218 countsByYear W20512782182014 @default.
- W2051278218 countsByYear W20512782182016 @default.
- W2051278218 countsByYear W20512782182017 @default.
- W2051278218 countsByYear W20512782182018 @default.
- W2051278218 crossrefType "journal-article" @default.
- W2051278218 hasAuthorship W2051278218A5062862008 @default.
- W2051278218 hasAuthorship W2051278218A5070599878 @default.
- W2051278218 hasConcept C10138342 @default.
- W2051278218 hasConcept C106159729 @default.
- W2051278218 hasConcept C142450864 @default.
- W2051278218 hasConcept C144133560 @default.
- W2051278218 hasConcept C149782125 @default.
- W2051278218 hasConcept C160623529 @default.
- W2051278218 hasConcept C162324750 @default.
- W2051278218 hasConcept C175444787 @default.
- W2051278218 hasConcept C181236170 @default.
- W2051278218 hasConcept C186027771 @default.
- W2051278218 hasConcept C41008148 @default.
- W2051278218 hasConcept C42854785 @default.
- W2051278218 hasConcept C52008547 @default.
- W2051278218 hasConcept C75949130 @default.
- W2051278218 hasConcept C77088390 @default.
- W2051278218 hasConcept C98965940 @default.
- W2051278218 hasConceptScore W2051278218C10138342 @default.
- W2051278218 hasConceptScore W2051278218C106159729 @default.
- W2051278218 hasConceptScore W2051278218C142450864 @default.
- W2051278218 hasConceptScore W2051278218C144133560 @default.
- W2051278218 hasConceptScore W2051278218C149782125 @default.
- W2051278218 hasConceptScore W2051278218C160623529 @default.
- W2051278218 hasConceptScore W2051278218C162324750 @default.
- W2051278218 hasConceptScore W2051278218C175444787 @default.
- W2051278218 hasConceptScore W2051278218C181236170 @default.
- W2051278218 hasConceptScore W2051278218C186027771 @default.
- W2051278218 hasConceptScore W2051278218C41008148 @default.
- W2051278218 hasConceptScore W2051278218C42854785 @default.
- W2051278218 hasConceptScore W2051278218C52008547 @default.
- W2051278218 hasConceptScore W2051278218C75949130 @default.
- W2051278218 hasConceptScore W2051278218C77088390 @default.
- W2051278218 hasConceptScore W2051278218C98965940 @default.
- W2051278218 hasIssue "1" @default.
- W2051278218 hasLocation W20512782181 @default.
- W2051278218 hasOpenAccess W2051278218 @default.
- W2051278218 hasPrimaryLocation W20512782181 @default.
- W2051278218 hasRelatedWork W1500033300 @default.
- W2051278218 hasRelatedWork W1500397298 @default.
- W2051278218 hasRelatedWork W2007989002 @default.
- W2051278218 hasRelatedWork W2012695603 @default.
- W2051278218 hasRelatedWork W2051278218 @default.
- W2051278218 hasRelatedWork W2158646308 @default.
- W2051278218 hasRelatedWork W2347976213 @default.
- W2051278218 hasRelatedWork W2361876746 @default.
- W2051278218 hasRelatedWork W2509285341 @default.
- W2051278218 hasRelatedWork W2610488162 @default.
- W2051278218 hasVolume "28" @default.
- W2051278218 isParatext "false" @default.
- W2051278218 isRetracted "false" @default.
- W2051278218 magId "2051278218" @default.
- W2051278218 workType "article" @default.