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Article citations


R. A. Dana, C. Le Van and F. Magnien, “On the Different Notions of Arbitrage and Existence of Equilibrium,” Journal of Economic Theory, Vol. 87, No. 1, 1999, pp. 169-193. doi:10.1006/jeth.1999.2518

has been cited by the following article:

  • TITLE: Arbitrage in General Equilibrium

    AUTHORS: Oscar Varela

    KEYWORDS: General Equilibrium; Arbitrage

    JOURNAL NAME: Modern Economy, Vol.3 No.4, July 24, 2012

    ABSTRACT: Normal trade in goods assumes two sectors that co-exist for reasons such as comparative advantage and interact via trade. Arbitrage trade in goods assumes two markets that artificially exist and converge via trade. Restoration of the law of one price via arbitrage creates one sector out of two, and in general equilibrium, equalizes opportunity cost of resources used in production. Arbitrage does not occur in a vacuum, such that when the high (low) price of a good decreases (increases) in its artificially segmented market during arbitrage, the supply of the good falls (rises), the resources used intensively in that good earn lower (higher) returns, affecting security prices, and the supply of those resources in that good’s production fall (rise).