Collective completeness and pricing-hedging duality II (opens in new tab)

This paper complements and extends Doldi, Frittelli and Maggis, Collective completeness and pricing-hedging duality, Math. Finan. Econ. 19, 757-784 (2025), by studying collective pricing and hedging when admissible risk exchanges form a finitely generated convex cone. The collective First Fundamental Theorem of Asset Pricing and the collective pricing-hedging duality are extended to this setting. A key contribution is a closedness result showing...