Think of a world in which investors--whom we will call
arbitragers for reasons that will become clear--are risk neutral and are willing and able to buy or sell any security in unlimited quantities as long as they expect the trade to be profitable.
(68) Today, latency
arbitragers use algorithms to create models of great complexity that can involve hundreds of securities in many different markets.
Third, to the extent that investors are systematically irrational, there are rational
arbitragers who eliminate their influence on prices.
Claudius informs his wife of this new twist to the crisis: "Her brother is in secret come from France." While Laertes may have tried to return in secret," the King's adept intelligence-gathering network picked up his whereabouts as fast as an
arbitrager gone short.
If a LEPO is overpriced then the
arbitrager incurs transaction costs in selling the LEPO and buying the share.
When x = l for both firm types, the outcomes will be the same since there is no scope for the PM-firm to use its better capital market facilities to increase the skill content of training: the training firm cannot act as an
arbitrager because all second period workers are perfectly mobile.
As a risk
arbitrager, Rubin was never implicated in the insider trading scandals that put Ivan Boesky and Goldman, Sachs's Robert Freeman in jail.
arbitrager Robert Freeman faces sentencing after pleading guilty to mail fraud in connection with an insider-trading scheme.
Ahab is a nineteenth-century
arbitrager, Gordon Gekko on the high seas, an "exaggerated prototype for the male behavior pattern that helped ensure the worldwide dominance of American industry."
Therefore, a speculator or an
arbitrager in the foreign exchange market cannot use exchange rates other than the one we are concerned with and other publicly available information to predict future values of an exchange rate.
The person realizing arbitrage, namely
arbitrager, gets a riskless gain by benefiting from the price difference between two markets where transactions in the same time are free.
The ticket scalper is more an
arbitrager than a speculator in this case.
Concentration refers to institutional power, family ownership, employee interest, manager ownership, insider ownership, and
arbitrager holdings.
The implication of this position is that when the exporter hedges through the spot and money markets, he is behaving as an interest
arbitrager (as a borrower
arbitrager borrowing money in one money market to transfer to another money market as opposed to an owner
arbitrager who invests personal funds).
