Positive Linear Functionals

H. Dybvig and S. A. Ross

Chapter Chapter 3 in Mathematical Finance and Probability, 2003, pp 41-72 from Springer

Abstract: Abstract In this chapter we develop some results of a slightly non-standard but important topic from linear algebra: positive linear functionals. This material constitutes the main technical tool for the proofs of the fundamental theorems of contingent claim pricing. Positive functionals play a prominent role in our considerations since they correspond to pricing functionals in arbitrage-free markets. The linear algebra needed here is summarized in Appendix A, where we also list some useful references.

Date: 2003
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DOI: 10.1007/978-3-0348-8041-1_3

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