{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,7,2]],"date-time":"2026-07-02T04:06:17Z","timestamp":1782965177114,"version":"3.54.5"},"reference-count":28,"publisher":"Springer Science and Business Media LLC","issue":"2","license":[{"start":{"date-parts":[[2014,3,5]],"date-time":"2014-03-05T00:00:00Z","timestamp":1393977600000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Finance Stoch"],"published-print":{"date-parts":[[2014,4]]},"DOI":"10.1007\/s00780-014-0229-8","type":"journal-article","created":{"date-parts":[[2014,3,4]],"date-time":"2014-03-04T11:52:09Z","timestamp":1393933929000},"page":"393-405","source":"Crossref","is-referenced-by-count":56,"title":["A note on the condition of no unbounded profit with bounded risk"],"prefix":"10.1007","volume":"18","author":[{"given":"Koichiro","family":"Takaoka","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Martin","family":"Schweizer","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"297","published-online":{"date-parts":[[2014,3,5]]},"reference":[{"key":"229_CR1","first-page":"12","volume":"237","author":"A.S. Cherny","year":"2002","unstructured":"Cherny, A.S., Shiryaev, A.N.: Vector stochastic integrals and the fundamental theorem of asset pricing. Proc. Steklov Inst. Math. 237, 12\u201356 (2002)","journal-title":"Proc. Steklov Inst. Math."},{"key":"229_CR2","series-title":"Lecture Notes in Mathematics","doi-asserted-by":"crossref","first-page":"12","DOI":"10.1007\/BFb0094638","volume-title":"S\u00e9minaire de Probabilit\u00e9s XXX","author":"T. Choulli","year":"1996","unstructured":"Choulli, T., Stricker, C.: Deux applications de la d\u00e9composition de Galtchouk\u2013Kunita\u2013Watanabe. In: Az\u00e9ma, J., et al. (eds.) S\u00e9minaire de Probabilit\u00e9s XXX. Lecture Notes in Mathematics, vol. 1626, pp. 12\u201323. Springer, Berlin (1996)"},{"key":"229_CR3","doi-asserted-by":"crossref","first-page":"185","DOI":"10.1080\/17442509008833613","volume":"29","author":"R.C. Dalang","year":"1990","unstructured":"Dalang, R.C., Morton, A., Willinger, W.: Equivalent martingale measures and no-arbitrage in stochastic securities market models. Stoch. Stoch. Rep. 29, 185\u2013201 (1990)","journal-title":"Stoch. Stoch. Rep."},{"key":"229_CR4","doi-asserted-by":"crossref","first-page":"107","DOI":"10.1111\/j.1467-9965.1992.tb00041.x","volume":"2","author":"F. Delbaen","year":"1992","unstructured":"Delbaen, F.: Representing martingale measures when asset prices are continuous and bounded. Math. Finance 2, 107\u2013130 (1992)","journal-title":"Math. Finance"},{"key":"229_CR5","doi-asserted-by":"crossref","first-page":"463","DOI":"10.1007\/BF01450498","volume":"300","author":"F. Delbaen","year":"1994","unstructured":"Delbaen, F., Schachermayer, W.: A general version of the fundamental theorem of asset pricing. Math. Ann. 300, 463\u2013520 (1994)","journal-title":"Math. Ann."},{"key":"229_CR6","doi-asserted-by":"crossref","first-page":"213","DOI":"10.1080\/17442509508833989","volume":"53","author":"F. Delbaen","year":"1995","unstructured":"Delbaen, F., Schachermayer, W.: The no-arbitrage property under a change of num\u00e9raire. Stoch. Stoch. Rep. 53, 213\u2013226 (1995)","journal-title":"Stoch. Stoch. Rep."},{"key":"229_CR7","doi-asserted-by":"crossref","first-page":"215","DOI":"10.1007\/s002080050220","volume":"312","author":"F. Delbaen","year":"1998","unstructured":"Delbaen, F., Schachermayer, W.: The fundamental theorem of asset pricing for unbounded stochastic processes. Math. Ann. 312, 215\u2013250 (1998)","journal-title":"Math. Ann."},{"key":"229_CR8","volume-title":"The Mathematics of Arbitrage","author":"F. Delbaen","year":"2006","unstructured":"Delbaen, F., Schachermayer, W.: The Mathematics of Arbitrage. Springer, Berlin (2006)"},{"key":"229_CR9","doi-asserted-by":"crossref","first-page":"239","DOI":"10.1007\/BF02425803","volume":"3","author":"F. Delbaen","year":"1996","unstructured":"Delbaen, F., Shirakawa, H.: A note on the no-arbitrage condition for international financial markets. Financ. Eng. Jpn. Mark. 3, 239\u2013251 (1996)","journal-title":"Financ. Eng. Jpn. Mark."},{"key":"229_CR10","doi-asserted-by":"crossref","first-page":"283","DOI":"10.1016\/0304-4068(86)90017-0","volume":"15","author":"D.M. Duffie","year":"1986","unstructured":"Duffie, D.M., Huang, C.F.: Multiperiod security markets with differential information: martingales and resolution times. J. Math. Econ. 15, 283\u2013303 (1986)","journal-title":"J. Math. Econ."},{"key":"229_CR11","first-page":"69","volume":"2","author":"H. F\u00f6llmer","year":"1998","unstructured":"F\u00f6llmer, H., Kabanov, Y.M.: Optional decomposition and Lagrange multipliers. Finance Stoch. 2, 69\u201381 (1998)","journal-title":"Finance Stoch."},{"key":"229_CR12","doi-asserted-by":"crossref","first-page":"774","DOI":"10.1214\/aoap\/1050689603","volume":"13","author":"T. Goll","year":"2003","unstructured":"Goll, T., Kallsen, J.: A complete explicit solution to the log-optimal portfolio problem. Ann. Appl. Probab. 13, 774\u2013799 (2003)","journal-title":"Ann. Appl. Probab."},{"key":"229_CR13","doi-asserted-by":"crossref","first-page":"381","DOI":"10.1016\/0022-0531(79)90043-7","volume":"20","author":"J.M. Harrison","year":"1979","unstructured":"Harrison, J.M., Kreps, D.M.: Martingales and arbitrage in multiperiod securities markets. J. Econ. Theory 20, 381\u2013408 (1979)","journal-title":"J. Econ. Theory"},{"key":"229_CR14","doi-asserted-by":"crossref","first-page":"215","DOI":"10.1016\/0304-4149(81)90026-0","volume":"11","author":"J.M. Harrison","year":"1981","unstructured":"Harrison, J.M., Pliska, S.R.: Martingales and stochastic integrals in the theory of continuous trading. Stoch. Process. Appl. 11, 215\u2013260 (1981)","journal-title":"Stoch. Process. Appl."},{"key":"229_CR15","doi-asserted-by":"crossref","first-page":"35","DOI":"10.1007\/978-3-642-03479-4_3","volume-title":"Contemporary Quantitative Finance. Essays in Honour of Eckhard Platen","author":"H. Hulley","year":"2010","unstructured":"Hulley, H., Schweizer, M.: M 6\u2014On minimal market models and minimal martingale measures. In: Chiarella, C., Novikov, A. (eds.) Contemporary Quantitative Finance. Essays in Honour of Eckhard Platen, pp. 35\u201351. Springer, Berlin (2010)"},{"key":"229_CR16","doi-asserted-by":"crossref","first-page":"191","DOI":"10.1142\/3621","volume-title":"Statistics and Control of Stochastic Processes. The Liptser Festschrift","author":"Y.M. Kabanov","year":"1997","unstructured":"Kabanov, Y.M.: On the FTAP of Kreps\u2013Delbaen\u2013Schachermayer. In: Kabanov, Y.M., et al. (eds.) Statistics and Control of Stochastic Processes. The Liptser Festschrift, pp. 191\u2013203. World Scientific, Singapore (1997)"},{"key":"229_CR17","series-title":"Lecture Notes in Mathematics","first-page":"149","volume-title":"S\u00e9minaire de Probabilit\u00e9s XXXV","author":"Y.M. Kabanov","year":"2002","unstructured":"Kabanov, Y.M., Stricker, C.: A teacher\u2019s note on no-arbitrage criteria. In: Az\u00e9ma, J., et al. (eds.) S\u00e9minaire de Probabilit\u00e9s XXXV. Lecture Notes in Mathematics, vol. 1755, pp. 149\u2013152. Springer, Berlin (2002)"},{"key":"229_CR18","doi-asserted-by":"crossref","first-page":"447","DOI":"10.1007\/s00780-007-0047-3","volume":"11","author":"I. Karatzas","year":"2007","unstructured":"Karatzas, I., Kardaras, C.: The num\u00e9raire portfolio in semimartingale financial models. Finance Stoch. 11, 447\u2013493 (2007)","journal-title":"Finance Stoch."},{"key":"229_CR19","doi-asserted-by":"crossref","first-page":"19","DOI":"10.1007\/978-3-642-03479-4_2","volume-title":"Contemporary Quantitative Finance: Essays in Honour of Eckhard Platen","author":"C. Kardaras","year":"2010","unstructured":"Kardaras, C.: Finitely additive probabilities and the fundamental theorem of asset pricing. In: Chiarella, C., Novikov, A. (eds.) Contemporary Quantitative Finance: Essays in Honour of Eckhard Platen, pp. 19\u201334. Springer, Berlin (2010)"},{"key":"229_CR20","doi-asserted-by":"crossref","first-page":"651","DOI":"10.1007\/s00780-012-0172-5","volume":"16","author":"C. Kardaras","year":"2012","unstructured":"Kardaras, C.: Market viability via absence of arbitrage of the first kind. Finance Stoch. 16, 651\u2013667 (2012)","journal-title":"Finance Stoch."},{"key":"229_CR21","doi-asserted-by":"crossref","first-page":"459","DOI":"10.1007\/BF01191909","volume":"105","author":"D. Kramkov","year":"1996","unstructured":"Kramkov, D.: Optional decomposition of supermartingales and hedging contingent claims in incomplete security markets. Probab. Theory Relat. Fields 105, 459\u2013479 (1996)","journal-title":"Probab. Theory Relat. Fields"},{"key":"229_CR22","doi-asserted-by":"crossref","first-page":"15","DOI":"10.1016\/0304-4068(81)90010-0","volume":"8","author":"D.M. Kreps","year":"1981","unstructured":"Kreps, D.M.: Arbitrage and equilibrium in economies with infinitely many commodities. J. Math. Econ. 8, 15\u201335 (1981)","journal-title":"J. Math. Econ."},{"key":"229_CR23","doi-asserted-by":"crossref","first-page":"833","DOI":"10.2977\/prims\/1195166576","volume":"29","author":"S. Kusuoka","year":"1993","unstructured":"Kusuoka, S.: A remark on arbitrage and martingale measure. Publ. Res. Inst. Math. Sci., Ser. A 29, 833\u2013840 (1993)","journal-title":"Publ. Res. Inst. Math. Sci., Ser. A"},{"key":"229_CR24","doi-asserted-by":"crossref","first-page":"43","DOI":"10.1111\/j.1467-9965.1993.tb00037.x","volume":"3","author":"P. Lakner","year":"1992","unstructured":"Lakner, P.: Martingale measures for a class of right-continuous processes. Math. Finance 3, 43\u201353 (1992)","journal-title":"Math. Finance"},{"key":"229_CR25","doi-asserted-by":"crossref","first-page":"41","DOI":"10.1080\/17442509408833943","volume":"51","author":"L.C.G. Rogers","year":"1994","unstructured":"Rogers, L.C.G.: Equivalent martingale measures and no-arbitrage. Stoch. Stoch. Rep. 51, 41\u201349 (1994)","journal-title":"Stoch. Stoch. Rep."},{"key":"229_CR26","doi-asserted-by":"crossref","first-page":"25","DOI":"10.1111\/j.1467-9965.1994.tb00048.x","volume":"4","author":"W. Schachermayer","year":"1994","unstructured":"Schachermayer, W.: Martingale measures for discrete time processes with infinite horizon. Math. Finance 4, 25\u201356 (1994)","journal-title":"Math. Finance"},{"key":"229_CR27","first-page":"451","volume":"26","author":"C. Stricker","year":"1990","unstructured":"Stricker, C.: Arbitrage et lois de martingale. Ann. Inst. Henri Poincar\u00e9 Probab. Stat. 26, 451\u2013460 (1990)","journal-title":"Ann. Inst. Henri Poincar\u00e9 Probab. Stat."},{"key":"229_CR28","series-title":"Lecture Notes in Mathematics","doi-asserted-by":"crossref","first-page":"56","DOI":"10.1007\/BFb0101750","volume-title":"S\u00e9minaire de Probabilit\u00e9s XXXII","author":"C. Stricker","year":"1998","unstructured":"Stricker, C., Yan, J.-A.: Some remarks on the optional decomposition theorem. In: Az\u00e9ma, J., et al. (eds.) S\u00e9minaire de Probabilit\u00e9s XXXII. Lecture Notes in Mathematics, vol. 1686, pp. 56\u201366. Springer, Berlin (1998)"}],"container-title":["Finance and Stochastics"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00780-014-0229-8.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s00780-014-0229-8\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00780-014-0229-8","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,5,29]],"date-time":"2019-05-29T06:30:45Z","timestamp":1559111445000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s00780-014-0229-8"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2014,3,5]]},"references-count":28,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2014,4]]}},"alternative-id":["229"],"URL":"https:\/\/doi.org\/10.1007\/s00780-014-0229-8","relation":{},"ISSN":["0949-2984","1432-1122"],"issn-type":[{"value":"0949-2984","type":"print"},{"value":"1432-1122","type":"electronic"}],"subject":[],"published":{"date-parts":[[2014,3,5]]}}}