My next post is going to be on arbitrage, in fact :-)
However, the results here are still useful, as they illustrate exactly what types of money pumps/arbitrages can occur from precisely which violations of the axioms.
My next post is going to be on arbitrage, in fact :-)
However, the results here are still useful, as they illustrate exactly what types of money pumps/arbitrages can occur from precisely which violations of the axioms.