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SUMMARY:An Introduction to No-Arbitrage Pricing - Arun Thillaisundaram (Un
 iversity of Cambridge)
DTSTART:20120213T140000Z
DTEND:20120213T150000Z
UID:TALK35860@talks.cam.ac.uk
CONTACT:Elena Yudovina
DESCRIPTION:First\, we consider pricing by expectation under the objective
  measure. We'll see that this may admit arbitrage (riskless profit) which 
 would lead to unrealistic market models. To solve this problem\, we discus
 s the no arbitrage approach to pricing\, and prove the First Fundamental T
 heorem of Asset Pricing. We consider replicable claims and discuss the Sec
 ond Fundamental Theorem of Asset Pricing. Finally\, we use all the methods
  discussed to calculate prices in a simple example. 
LOCATION:CMS\, MR12
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