{"id":"https://openalex.org/W2164288937","doi":"https://doi.org/10.1007/s00780-007-0047-3","title":"The num\u00e9raire portfolio in semimartingale financial models","display_name":"The num\u00e9raire portfolio in semimartingale financial models","publication_year":2007,"publication_date":"2007-08-07","ids":{"openalex":"https://openalex.org/W2164288937","doi":"https://doi.org/10.1007/s00780-007-0047-3","mag":"2164288937"},"language":"en","primary_location":{"id":"doi:10.1007/s00780-007-0047-3","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s00780-007-0047-3","pdf_url":null,"source":{"id":"https://openalex.org/S172526255","display_name":"Finance and Stochastics","issn_l":"0949-2984","issn":["0949-2984","1432-1122"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Stochastics","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5060473555","display_name":"Ioannis Karatzas","orcid":null},"institutions":[{"id":"https://openalex.org/I78577930","display_name":"Columbia University","ror":"https://ror.org/00hj8s172","country_code":"US","type":"education","lineage":["https://openalex.org/I78577930"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Ioannis Karatzas","raw_affiliation_strings":["Mathematics and Statistics Departments, Columbia University, New York, NY, 10027, USA"],"affiliations":[{"raw_affiliation_string":"Mathematics and Statistics Departments, Columbia University, New York, NY, 10027, USA","institution_ids":["https://openalex.org/I78577930"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5001698220","display_name":"Constantinos Kardaras","orcid":"https://orcid.org/0000-0001-6903-4506"},"institutions":[{"id":"https://openalex.org/I111088046","display_name":"Boston University","ror":"https://ror.org/05qwgg493","country_code":"US","type":"education","lineage":["https://openalex.org/I111088046"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Constantinos Kardaras","raw_affiliation_strings":["Mathematics and Statistics Department, Boston University, Boston, MA, 02215, USA"],"affiliations":[{"raw_affiliation_string":"Mathematics and Statistics Department, Boston University, Boston, MA, 02215, USA","institution_ids":["https://openalex.org/I111088046"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5001698220"],"corresponding_institution_ids":["https://openalex.org/I111088046"],"apc_list":{"value":2290,"currency":"EUR","value_usd":2890},"apc_paid":null,"fwci":15.7864,"has_fulltext":false,"cited_by_count":320,"citation_normalized_percentile":{"value":0.99073196,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":99,"max":100},"biblio":{"volume":"11","issue":"4","first_page":"447","last_page":"493"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.9995999932289124,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10067","display_name":"Stochastic processes and financial applications","score":0.9995999932289124,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11413","display_name":"Risk and Portfolio Optimization","score":0.9980999827384949,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9970999956130981,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/semimartingale","display_name":"Semimartingale","score":0.9786384105682373},{"id":"https://openalex.org/keywords/portfolio","display_name":"Portfolio","score":0.7416126132011414},{"id":"https://openalex.org/keywords/mathematical-finance","display_name":"Mathematical finance","score":0.6876438856124878},{"id":"https://openalex.org/keywords/mathematical-economics","display_name":"Mathematical economics","score":0.5520256161689758},{"id":"https://openalex.org/keywords/financial-market","display_name":"Financial market","score":0.5200048089027405},{"id":"https://openalex.org/keywords/bounded-function","display_name":"Bounded function","score":0.49514976143836975},{"id":"https://openalex.org/keywords/portfolio-optimization","display_name":"Portfolio optimization","score":0.4900561571121216},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.4454555809497833},{"id":"https://openalex.org/keywords/a-priori-and-a-posteriori","display_name":"A priori and a posteriori","score":0.44100451469421387},{"id":"https://openalex.org/keywords/asset","display_name":"Asset (computer security)","score":0.43256333470344543},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.42310112714767456},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.36172425746917725},{"id":"https://openalex.org/keywords/applied-mathematics","display_name":"Applied mathematics","score":0.23973014950752258},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.22159454226493835},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.21148374676704407},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.20928213000297546},{"id":"https://openalex.org/keywords/mathematical-analysis","display_name":"Mathematical analysis","score":0.0778658390045166}],"concepts":[{"id":"https://openalex.org/C39943821","wikidata":"https://www.wikidata.org/wiki/Q506346","display_name":"Semimartingale","level":2,"score":0.9786384105682373},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.7416126132011414},{"id":"https://openalex.org/C93373587","wikidata":"https://www.wikidata.org/wiki/Q335632","display_name":"Mathematical finance","level":2,"score":0.6876438856124878},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.5520256161689758},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.5200048089027405},{"id":"https://openalex.org/C34388435","wikidata":"https://www.wikidata.org/wiki/Q2267362","display_name":"Bounded function","level":2,"score":0.49514976143836975},{"id":"https://openalex.org/C202655437","wikidata":"https://www.wikidata.org/wiki/Q7231728","display_name":"Portfolio optimization","level":3,"score":0.4900561571121216},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4454555809497833},{"id":"https://openalex.org/C75553542","wikidata":"https://www.wikidata.org/wiki/Q178161","display_name":"A priori and a posteriori","level":2,"score":0.44100451469421387},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.43256333470344543},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.42310112714767456},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.36172425746917725},{"id":"https://openalex.org/C28826006","wikidata":"https://www.wikidata.org/wiki/Q33521","display_name":"Applied mathematics","level":1,"score":0.23973014950752258},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.22159454226493835},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.21148374676704407},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.20928213000297546},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0778658390045166},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1007/s00780-007-0047-3","is_oa":false,"landing_page_url":"https://doi.org/10.1007/s00780-007-0047-3","pdf_url":null,"source":{"id":"https://openalex.org/S172526255","display_name":"Finance and Stochastics","issn_l":"0949-2984","issn":["0949-2984","1432-1122"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319900","host_organization_name":"Springer Science+Business Media","host_organization_lineage":["https://openalex.org/P4310319900","https://openalex.org/P4310319965"],"host_organization_lineage_names":["Springer Science+Business Media","Springer Nature"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Finance and Stochastics","raw_type":"journal-article"},{"id":"pmh:oai:researchonline.lse.ac.uk:85930","is_oa":false,"landing_page_url":"https://orcid.org/0000-0001-6903-4506>","pdf_url":null,"source":{"id":"https://openalex.org/S4306400050","display_name":"London School of Economics and Political Science Theses Online (London School of Economics and Political Science)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I909854389","host_organization_name":"London School of Economics and Political Science","host_organization_lineage":["https://openalex.org/I909854389"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"acceptedVersion","is_accepted":true,"is_published":false,"raw_source_name":null,"raw_type":"PeerReviewed"},{"id":"pmh:oai:RePEc:spr:finsto:v:11:y:2007:i:4:p:447-493","is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1007/s00780-007-0047-3","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.4699999988079071,"id":"https://metadata.un.org/sdg/8"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":43,"referenced_works":["https://openalex.org/W31626434","https://openalex.org/W87335926","https://openalex.org/W1538558414","https://openalex.org/W1593542532","https://openalex.org/W1717697016","https://openalex.org/W1839975860","https://openalex.org/W1963490892","https://openalex.org/W1979627408","https://openalex.org/W1983652428","https://openalex.org/W1986077423","https://openalex.org/W1988314419","https://openalex.org/W1995521089","https://openalex.org/W1998107368","https://openalex.org/W1998549733","https://openalex.org/W2009076726","https://openalex.org/W2013068337","https://openalex.org/W2022958749","https://openalex.org/W2026012096","https://openalex.org/W2029253577","https://openalex.org/W2040759104","https://openalex.org/W2042775870","https://openalex.org/W2044127402","https://openalex.org/W2044655941","https://openalex.org/W2045303280","https://openalex.org/W2045697620","https://openalex.org/W2054515856","https://openalex.org/W2057395645","https://openalex.org/W2076458153","https://openalex.org/W2081877251","https://openalex.org/W2092120257","https://openalex.org/W2093416580","https://openalex.org/W2095487918","https://openalex.org/W2119353074","https://openalex.org/W2131009816","https://openalex.org/W2166720436","https://openalex.org/W2338091217","https://openalex.org/W2514448061","https://openalex.org/W2784772637","https://openalex.org/W3203406682","https://openalex.org/W4229620168","https://openalex.org/W4244967830","https://openalex.org/W4285719527","https://openalex.org/W4293092461"],"related_works":["https://openalex.org/W2114841244","https://openalex.org/W2049837257","https://openalex.org/W2155429742","https://openalex.org/W2134708011","https://openalex.org/W1967585201","https://openalex.org/W1666537522","https://openalex.org/W2067877330","https://openalex.org/W1999121654","https://openalex.org/W2768647238","https://openalex.org/W2482609895"],"abstract_inverted_index":null,"counts_by_year":[{"year":2025,"cited_by_count":9},{"year":2024,"cited_by_count":9},{"year":2023,"cited_by_count":18},{"year":2022,"cited_by_count":16},{"year":2021,"cited_by_count":12},{"year":2020,"cited_by_count":17},{"year":2019,"cited_by_count":13},{"year":2018,"cited_by_count":22},{"year":2017,"cited_by_count":24},{"year":2016,"cited_by_count":18},{"year":2015,"cited_by_count":24},{"year":2014,"cited_by_count":29},{"year":2013,"cited_by_count":30},{"year":2012,"cited_by_count":22}],"updated_date":"2026-04-05T17:49:38.594831","created_date":"2025-10-10T00:00:00"}