Complexity of Exchange Markets

Mao-cheng Cai and Xiaotie Deng
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Mao-cheng Cai: Chinese Academy of Sciences
Xiaotie Deng: City University of Hong Kong

Chapter 28 in Handbook on Information Technology in Finance, 2008, pp 689-705 from Springer

Abstract: Abstract It is generally accepted that state variables of financial instruments will disallow the existence of investment strategies with riskless profit, commonly referred to as an arbitrage opportunity. Such a belief is based on the assumption that investment agents will actively seek to exploit any arbitrage opportunity in financial markets. In turn, such acts will deplete any arbitrage opportunity as soon as it may arise.

Keywords: Exchange Rate; Polynomial Time; Exchange Market; Future Market; Foreign Exchange Market (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-49487-4_28

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