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Complexity of Exchange Markets

In: Handbook on Information Technology in Finance

Author

Listed:
  • Mao-cheng Cai

    (Chinese Academy of Sciences)

  • Xiaotie Deng

    (City University of Hong Kong)

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.

Suggested Citation

  • Mao-cheng Cai & Xiaotie Deng, 2008. "Complexity of Exchange Markets," International Handbooks on Information Systems, in: Detlef Seese & Christof Weinhardt & Frank Schlottmann (ed.), Handbook on Information Technology in Finance, chapter 28, pages 689-705, Springer.
    • Handle: RePEc:spr:ihichp:978-3-540-49487-4_28
    DOI: 10.1007/978-3-540-49487-4_28
    as

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