TITLE:
Beyond the No Free Lunch Principle: A New Combination of Arbitrage and Investment
AUTHORS:
Yi-Jang Yu
KEYWORDS:
Asset Investment, Arbitrage, Speculation
JOURNAL NAME:
Modern Economy,
Vol.9 No.4,
April
24,
2018
ABSTRACT: In the
financial market, within both extremities of asset investment and arbitrage, there
are sufficient rooms to contain something else other than speculation. The
first aim of this study is thus to introduce a new sector which although cannot
violate the common sense of “no free lunch” as can arbitrage, still is capable
of surmounting general beliefs about the trade-off between risk and return that
accompanies speculation. The second aim of this study is intended to reduce the
ingredients of unfair games in the financial market.