论文标题
无责任对称性
No-Arbitrage Symmetries
论文作者
论文摘要
无契约财产被广泛接受为现代金融数学的核心，可以被认为是适用于大型（理想化）市场的金融法。该论文解决了以下基本问题：一个人可以表征离开无肢体不变的法律的转换类别吗？我们在离散时间的非概率设置（即所谓的轨迹模型）中提供了该问题的几何形式化。然后，本文从当地的意义上表征了无肢体对称性，并在详细的示例中说明了它们的含义。我们的上下文使结果可作为特殊情况提供给随机设置
The no-arbitrage property is widely accepted to be a centerpiece of modern financial mathematics and could be considered to be a financial law applicable to a large class of (idealized) markets. The paper addresses the following basic question: can one characterize the class of transformations that leave the law of no-arbitrage invariant? We provide a geometric formalization of this question in a non probabilistic setting of discrete time, the so-called trajectorial models. The paper then characterizes, in a local sense, the no-arbitrage symmetries and illustrates their meaning in a detailed example. Our context makes the result available to the stochastic setting as a special case
