Before revision: Within the well-known framework of financial portfolio optimization, we analyze the existing relationships between the condition of arbitrage and the utility maximization in presence of insider information. That is, we assume that, since the initial time, the information flow is altered by adding the knowledge of an additional random variable including future information.
After revision: Within the well-known framework of financial portfolio optimization, we analyze the existing relationships between the condition of arbitrage and the utility maximization in presence of insider information assume that, since the initial time, the information flow is altered by adding the knowledge of an additional random variable including future information.