On the Stickiness Property.

link: http://arxiv.org/abs/0801.0718
Abstract

In [2] the notion of stickiness for stochastic processes was introduced. It
was also shown that stickiness implies absense of arbitrage in a market with
proportional transaction costs. In this paper, we investigate the notion of
stickiness further. In particular, we give examples of processes that are not
semimartingales but are sticky.