That is because in financial market the emerge of arbitrage is conflict with equilibrium.
这是因为在金融市场上，套利的出现是与均衡相矛盾的。
2
The dividend discount model is the essential method used to estimate the stock intrinsic value. No-arbitrage equilibrium theory is the foundation of present financial theory.
股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。
3
No arbitrage principle suppose there is no arbitrage opportunity in financial market.