Josef Teichmann authored lectures on the fundamental theorem of asset pricing. The notes connect no-arbitrage, equivalent local martingale measures and replication, including a finite-state convex-geometric argument. This explains why a collection of quoted prices can be consistent precisely when an appropriate positive pricing measure exists under the theorem's hypotheses.[ref]
Fundamental Theorem of Asset Pricing by Josef Teichmann. Slides 165–170 and 198–200
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Josef Teichmann is an academic known for his contributions to the field of mathematics, particularly in the areas of algebra and number theory. He is recognized for his research and publications that enhance the understanding of mathematical concepts.