Ploughman's lunch please'. And in a matter of minutes a tray is handed across the counter to you on which is a good square hunk of bread, a lump of butter and a wedge of cheese, and pickled onions, along with your pint of beer". Only one year later, in June 1957, another edition of the "Monthly Bulletin" of the Brewers' Society, referred to a ploughman's lunch using exactly that name, and said that it consisted of "cottage bread, cheese, lettuce, hard-boiled eggs, cold sausages and, of course, beer". The Glasgow newspaper "The Bulletin" from 15 April 1958 and "The Times" from
No free lunch with vanishing risk No free lunch with vanishing risk No free lunch with vanishing risk (NFLVR) is a no-arbitrage argument. We have "free lunch with vanishing risk" if by utilizing a sequence of time self-financing portfolios which converge to an arbitrage strategy, we can approximate a self-financing portfolio (called the "free lunch with vanishing risk"). For a semimartingale "S", let formula_1 where a strategy is admissible if it is permitted by the market. Then define formula_2. "S" is said to satisfy "no free lunch with vanishing risk" if formula_3 such that formula_4 is the closure of "C" in the norm topology of formula_5.