English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

The numeraire portfolio in a financial market is the unique positive wealthprocess that makes all other nonnegative wealth processes, when deflated by it,supermartingales. The numeraire portfolio depends on market characteristics,which include: (a) the information flow available to acting agents, given by afiltration; (b) the statistical evolution of the asset prices and, moregenerally, the states of nature, given by a probability measure; and (c)possible restrictions that acting agents might be facing on availableinvestment strategies, modeled by a constraints set. In a financial market withcontinuous-path asset prices, we establish the stable behavior of the numeraireportfolio when each of the aforementioned market parameters is changed in aninfinitesimal way.

The continuous behavior of the numeraire portfolio under small changes in information structure, probabilistic views and investment constraints