The Mathematics of Arbitrage (Springer Finance) - Hardcover

From the reviews:

"As a learning device, I think this works really well. The second half of the book allows readers to ‘put to use’ the mathematics they learn in the first half. I really like the authors’ writing style. They provide plenty of intuitive insights and historical notes along the way as they formally develop concepts. ... I recommend it highly to theoretically-inclined financial engineers and researchers." (www.riskbook.com, September, 2006)

"The aim of the book, as the authors state ... is to give the reader a guided tour through the mathematics of arbitrage. ... The book will be of invaluable help to new researchers in the area of incomplete markets. A new graduate student wishing to do such research would start by reading the papers in the book. She or he now has a very good book to assist this study." (Angelos Dassios, Mathematical Reviews, Issue 2007 a)

Proof of the "Fundamental Theorem of Asset Pricing" in its general form by Delbaen and Schachermayer was a milestone in the history of modern mathematical finance and now forms the cornerstone of this book.

Puts into book format a series of major results due mostly to the authors of this book.

Embeds highest-level research results into a treatment amenable to graduate students, with introductory, explanatory background.

Awaited in the quantitative finance community.