Instruct: Identify the main and secondary category of Arxiv papers based on the titles and abstracts
Query: No-Arbitrage Pricing for Dividend-Paying Securities in Discrete-Time
  Markets with Transaction Costs   We prove a version of First Fundamental Theorem of Asset Pricing under
transaction costs for discrete-time markets with dividend-paying securities.
Specifically, we show that the no-arbitrage condition under the efficient
friction assumption is equivalent to the existence of a risk-neutral measure.
We derive dual representations for the superhedging ask and subhedging bid
price processes of a derivative contract. Our results are illustrated with a
vanilla credit default swap contract.

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The categories of this paper are: stat
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The categories of this paper are: plasm-ph
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The categories of this paper are: adap-org
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The categories of this paper are: funct-an
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The categories of this paper are: hep-ph
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The categories of this paper are: alg-geom
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The categories of this paper are: solv-int
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The categories of this paper are: quant-ph
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The categories of this paper are: nlin
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The categories of this paper are: patt-sol
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The categories of this paper are: math-ph
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The categories of this paper are: mtrl-th
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The categories of this paper are: cmp-lg
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The categories of this paper are: hep-th
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The categories of this paper are: nucl-th
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The categories of this paper are: dg-ga