NOTES ABOUT ARBITRAGE OF MARKET UNDER TRANSACTION COSTS
有交易费市场中套利问题的注记

In this paper, we introduce the general definition of arbitrage opportunity for the given market model under transaction costs, also discuss the basic properties of no-arbitrage market by using the methods of auxiliary martingales and the discount asset function, that is, under the admissible trading strategy there is not arbitrage opportunity in the market.