The Kreps-Yan theorem for $L^{\infty }$

Dmitry B. Rokhlin

We prove the following version of the Kreps-Yan theorem. For any norm closed convex cone $C\subset L^{\infty }$ such that $C\cap L_{+}^{\infty }=\{0\}$ and $C\supset -L_{+}^{\infty }$, there ex…