We are now advanced enough to tackle this issue formally, by trying to construct an equilibrium in a combinatorially exhaustive population of acausal trading programs. Is there an acausal version of the “no-trade theorem”?
We are now advanced enough to tackle this issue formally, by trying to construct an equilibrium in a combinatorially exhaustive population of acausal trading programs. Is there an acausal version of the “no-trade theorem”?