When used by academics, an arbitrage is a transaction that involves no negative cash flow at any probabilistic or temporal state and a positive cash flow in at least one state ; in simple terms, it is the possibility of a risk-free profit at zero cost.

When the transaction involves a delay of weeks or months, as above, it may entail considerable risk if borrowed money is used to magnify the reward through leverage.

When the bid matches the offer, a transaction can easily occur ( even instantenously, as in a typical stock market ).

When transaction costs are low, the Coase theorem says that the political marketplace ( the decisions of the legislatures ) will allocate resources to the highest valued point ( Coase 1960 ).

When access is granted, the door is unlocked for a predetermined time and the transaction is recorded.

When such an individual trades on the capital markets, it will often involve a two stage transaction.

When an authorization request is made to verify the legitimacy of a transaction, a token might be returned to the merchant instead of the card number, along with the authorization code for the transaction.

When rationally evaluating a potential transaction, it is important to consider transaction costs that might prove significant.

When the external transaction costs are higher than the internal transaction costs, the company will grow.

When a transaction takes place, it typically involves both private costs and external costs.

When purchasing taboo goods and services, anonymity makes many potential consumers more comfortable with or more willing to engage in the transaction.

When understanding grows in line with age, the law switches from excuse to exculpation, and transactions may be voidable, i. e. the courts will judge, whether in the particular circumstances, it would be right to favor the interests of the child or the interests of the other party or parties involved in the transaction.

When a database object with an existing lock acquired by one transaction needs to be accessed by another transaction, the existing lock for the object and the type of the intended access are checked by the system.

When the business transaction was finalized through a court probate proceeding in 1932 as prescribed by Czechoslovakian law, Jan Antonin became the legitimate owner of the Bata family business.

When the transaction was completed in April 2001, United were forced to pay PSV an additional £ 500, 000 for the player's services due to the change in exchange rates between Euro and Sterling.

When this is not the case, Coasian solutions predictably yield highly inefficient results due to perverse incentives — not " mere " transaction costs.

When CICS was first released, it only supported application transaction programs written in IBM 360 Assembler.

When a seller chooses to work with a transaction broker, there is no agency relationship created.

When news of the proposed transaction was leaked to the radio, Cardinals ' owner August Busch stopped the deal.

When he also tried to trade the legendary Stan Musial, Cardinals owner Gussie Busch blocked the transaction.

When did you last compare your present premium costs with the costs of insurance from other sources??

When this happens, substantial trial costs can be saved when the parties to a dispute agree to a settlement.

When she and Hall divorced in 1965, Beatty was named as a co-respondent and was ordered by the London court to pay " the costs of the case ".

When they complained that a fee was charged for attending his lecture at the University and that hitherto, lectures by visiting scholars had been free-of-charge, Friedman replied that previous lectures had not been free-of-charge in a meaningful sense: Lectures always have related costs.

When used for the proper application with the appropriate design, off-peak cooling systems can lower energy costs.

When first established in 1946, the OTC inherited facilities which had been depleted during World War II and faced rising costs and falling profits.

When Utzon left, the shells were almost complete, and costs amounted to only $ 22. 9 million.

When costs are normalized for wealth and inflation, it ranks third today.

When considering whether to allow Campbell to go ahead with the demonstration, their engineers had estimated that they stood to save $ 700, 000 in new installation costs in New York and New Jersey alone.

When medical bills go unpaid, health care providers must either shift the costs onto those who can pay or go uncompensated.

When wage costs are applied to this difference ( the 8, 000 hours ) it becomes possible to financially value human capital risk within an organizational perspective.

When there are expenses to be covered ( such as for the rental of facilities for large-scale conferences ), costs are borne by self-nominated and relatively affluent individual members of the community.

When the soaring inflation and energy costs threatened the survival of thousands of private apartment buildings in the 1970s, FHA ’ s emergency financing kept cash-strapped properties afloat.

When hunger is not an issue, most predators will generally not seek to attack prey since the costs outweigh the benefits.

When one chooses an abstract domain, one typically has to strike a balance between keeping fine-grained relationships, and high computational costs.

* When car owners use roads, they impose congestion costs and higher accidents risks on all other users.

When complete, IPD technology will be available for application in future liquid rocket engines to enhance performance and save weight and costs.

When engineers arrived, they rejected the existing Valdosta Municipal Airport because of excessive grading costs and began looking for another site.

When a BACT is determined, factors such as energy consumption, total source emission, regional environmental impact, and economic costs are taken into account.

When I show up he will know you are a good wife to have told him about it ''.

When the Know-nothings get control, it will read, All men are created equal except Negroes and foreigners and Catholics.

When the reactionary response is thus bolstered by an intellectual defense, the characteristics of that defense are explicable only in terms of the basic attitudes of unanalyzed reaction.

When combined with the metaphysical notion that pure forms of this universe are best appreciated when least embodied in a material substratum, it becomes clear that while earth will be dross on a scale of material-formal ratios, celestial bodies will be of a subtle, quickened, ethereal existence, in whose embodiment pure form will be the dominant component and matter will be absent or remain subsidiary.

She used to tell me, `` When I stand there and look at the flag blowing this way and that way, I have the wonderful, safe feeling that Americans are protected no matter which way the wind blows ''.

When we consider the disorganized state of the world community, and the legacy of predispositions adversely directed against all who are identified as Jews, it is obvious that the struggle for the minds and muscles of men needs to be prosecuted with increasing vigor and skill.

When these fields are surveyed together, important patterns of relationship emerge indicating a vast community of reciprocal influence, a continuity of thought and expression including many traditions, primarily literary, religious, and philosophical, but frequently including contact with the fine arts and even, to some extent, with science.

When different colors are used, she is just as likely to color trees purple, hair green, etc..

When finally the two bedraggled men reach their friend's home, Voltaire's fears are once again aroused.

`` When are you to leave ''??

When the roof blocks are all in place, the final rows of wall blocks are mortared into position.

When the aid operations are reorganized the Peace Corps should remain a semi-autonomous, functional unit.

When the budget goes to trustees for approval it is the president's budget, to which his faith and credit are committed ; ;

When they have 4 to 6 leaves and are thrifty little plants, it's time to set them out where they are to remain.

When aircraft are no longer helpless on airfields, they are no longer vulnerable to Aj.

When more than two figures are separated by subtraction symbols the subtraction must be carried out from the left to right if the result is to be correct.

When they're on, the top edges are planed even with the sheer batten.

When painting, Mason's physical eyes are half-closed, while his mind's eye is wide open, and this circumstance accounts in part for the impression he wishes to convey.

When improvements are recommended in working conditions -- such as lighting, rest rooms, eating facilities, air-conditioning -- do you try to set a measure of their effectiveness on productivity??

When sufficiently accurate and complete measurements are available, it will be possible to set limits on the thermal and electrical characteristics of the surface and subsurface materials of the moon.

When some thirteen records of newly and recently born individuals are collated, little or no correlation between length and distribution can be detected.

When three dice are tossed repeatedly, what is the probability that the number of aces is 0 ( or 1, or 2, or 3 )??