We design a numerical example of APT that incorporates arbitrage opportunities
We prove the standard form of the second fundamental theorem of asset pricing, where there are an infinite number of assets, and the pricing functions are continuous.
We prove the standard Fundamental Theorem of Asset Pricing (FTAP) with the no-arbitrage condition, not the sophisticated concept such as NFLVR (No Free Lunch with Vanishing Risk) or else. We illustrate the FTAP in the infinite market by numerical examples.
Abad’s View of Asset Pricing: A new framework (axiomatic system) of financial theory Which Starts to answer the following questions