The process by which identical products that are tradeable converge to the same price is called

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Arbitrage refers to the practice of taking advantage of price discrepancies between identical products in different markets or at different times, in order to make a profit with no risk. This process helps to bring prices into alignment, as traders will continue to buy in the cheaper market and sell in the more expensive market until prices converge. Hedging, speculation, and risk aversion are all related concepts, but they do not necessarily involve convergence of prices for identical products.

The Process by Which Identical Products That Are Tradeable Converge