The efficient index hypothesis and its implications in the BSM model
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- Vladimir Vovk, 2011. "The Capital Asset Pricing Model as a corollary of the Black-Scholes model," Papers 1109.5144, arXiv.org.
- Vladimir Vovk & Glenn Shafer, 2016. "A probability-free and continuous-time explanation of the equity premium and CAPM," Papers 1607.00830, arXiv.org.
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