A Stochastic Thermodynamics Approach to Price Impact and Round-Trip Arbitrage: Theory and Empirical Implications Paper • 2512.03123 • Published Dec 2, 2025 • 1
Stochastic Thermodynamics Paper Collection This paper develops a comprehensive theoretical framework that imports concepts from stochastic thermodynamics to model price impact and characterize • 2 items • Updated Dec 4, 2025