TY  - GEN
AB  - We reconsider the microeconomic foundations of financial economics under Knightian Uncertainty. In a general framework, we discuss the absence of arbitrage, its
relation to economic viability, and the existence of suitable nonlinear pricing ex-
pectations. Classical financial markets under risk and no ambiguity are contained
as special cases, including various forms of the Efficient Market Hypothesis. For
Knightian uncertainty, our approach unifies recent versions of the Fundamental
Theorem of Asset Pricing under a common framework.
DA  - 2017
KW  - Robust Finance
KW  - No Arbitrage
KW  - Viability
KW  - Knightian Uncertainty
LA  - eng
PY  - 2017
SN  - 0931-6558
SP  - 46-
TI  - Viability and arbitrage under Knightian Uncertainty
UR  - https://nbn-resolving.org/urn:nbn:de:0070-pub-29129630
Y2  - 2024-11-22T09:46:51
ER  -