Related papers: No-Arbitrage Symmetries
The classical random matrix theory is mostly focused on asymptotic spectral properties of random matrices as their dimensions grow to infinity. At the same time many recent applications from convex geometry to functional analysis to…
This paper considers a general class of nonparametric time series regression models where the regression function can be time-dependent. We establish an asymptotic theory for estimates of the time-varying regression functions. For this…
The ability to engineer non-Gaussian quantum resources underlies quantum technologies from communication and metrology to universal computation. However, while a number of canonical works have set no-go limits for attaining such resources…
In this paper \emph{analytic equivalence} of geometric transition is defined in such a way that equivalence classes of geometric transitions turn out to be the \emph{arrows} of the \cy web. Then it seems natural and useful, both from the…
In this work we introduce Heath-Jarrow-Morton (HJM) interest rate models driven by fractional Brownian motions. By using support arguments we prove that the resulting model is arbitrage free under proportional transaction costs in the same…
The paper investigates quadratic hedging in a semimartingale market that does not necessarily contain a risk-free asset. An equivalence result for hedging with and without numeraire change is established. This permits direct computation of…
A stock market is called diverse if no stock can dominate the market in terms of relative capitalization. On one hand, this natural property leads to arbitrage in diffusion models under mild assumptions. On the other hand, it is also easy…
A market model in Stochastic Portfolio Theory is a finite system of strictly positive stochastic processes. Each process represents the capitalization of a certain stock. If at any time no stock dominates almost the entire market, which…
Experimental results on market behavior establish a lower stability and efficiency of markets for durable re-tradable assets compared to markets for non-durable, or perishable, goods. In this chapter, we revisit this known but…
The standard techniques of variational calculus are geometrically stated in the ambient of fiber bundles endowed with a (pre)multisymplectic structure. Then, for the corresponding variational equations, conserved quantities (or, what is…
We describe a geometric and symmetry-based formulation of the equivalence principle in non-relativistic physics. It applies both on the classical and quantum levels and states that the Newtonian potential can be eliminated in favor of a…
The aim of this note is to discuss the relation between one-parameter continuous symmetries of the dynamics, defined on physical grounds, and conservation laws. In the Hamiltonian formulation, such symmetries of the dynamics in general…
We give an introductory account of the recently identified gauge invariance of the equilibrium statistical mechanics of classical many-body systems [J. M\"uller et al., Phys. Rev. Lett. Phys. Rev. Lett. 133, 217101 (2024)]. The gauge…
Arithmetic operations can be defined in various ways, even if one assumes commutativity and associativity of addition and multiplication, and distributivity of multiplication with respect to addition. In consequence, whenever one encounters…
Symmetries are defined in histories-based generalized quantum mechanics paying special attention to the class of history theories admitting quasitemporal structure (a generalization of the concept of `temporal sequences' of `events' using…
In the event symmetric approach to quantum gravity it is assumed that the fundamental laws of physics must be invariant under exchange of any two space-time events. The fact that this symmetry if obviously not observed is attributed to the…
The purpose of this paper is to investigate the gauge symmetry of classical field theories in integral formalism. A gauge invariant theory is defined in terms of the invariance of the physical observables under the coordinate…
We argue that there should exist a "noncommutative Fourier transform" which should identify functions of noncommutative variables (say, of matrices of indeterminate size) and ordinary functions or measures on the space of paths. Some…
Surprisingly, an interesting property of the Noether charge that it is by itself invariant under the corresponding symmetry transformation is never discussed in quantum field theory or classical mechanics textbooks we have checked. This…
Traditionally stationarity refers to shift invariance of the distribution of a stochastic process. In this paper, we rediscover stationarity as a path property instead of a distributional property. More precisely, we characterize a set of…