Open Access Open Access  Restricted Access Subscription or Fee Access

Least-Squares Prices of Coin-Flipping Games

Yukio Hirashita


What are the prices of random variables? We assert that the prices are not necessarily their (arithmetic, geometric, discounted) means. In this paper, we first present the geometric price of a single coin-flipping game. Second, we define the least-squares prices in the convex cone of coin-flipping games, which are proved to be minimal, positive linear, and arbitrage-free. These least-squares prices depend both on a set of games that is available for simultaneous investment and on a risk-free interest rate.


Pricing, Growth rate, Convex cone.

Full Text:


Disclaimer/Regarding indexing issue:

We have provided the online access of all issues and papers to the indexing agencies (as given on journal web site). It’s depend on indexing agencies when, how and what manner they can index or not. Hence, we like to inform that on the basis of earlier indexing, we can’t predict the today or future indexing policy of third party (i.e. indexing agencies) as they have right to discontinue any journal at any time without prior information to the journal. So, please neither sends any question nor expects any answer from us on the behalf of third party i.e. indexing agencies.Hence, we will not issue any certificate or letter for indexing issue. Our role is just to provide the online access to them. So we do properly this and one can visit indexing agencies website to get the authentic information. Also: DOI is paid service which provided by a third party. We never mentioned that we go for this for our any journal. However, journal have no objection if author go directly for this paid DOI service.