价格

There are two means to measure the average prices of the assets in an Asian option theoretically:with the arithmetic average and with the geometric average.

亚式期权有两种理论上的表示方式，即采用算术平均法计算资产价格的平均值和采用几何平均法计算资产价格的平均值。

In this paper we considered three problems on Asian options pricing: The valuation of geometric average Asian options with stochastic averaging period, the valuation of Asian options with fixed strike price and floating strike price in the case of arithmetic average.

本文考虑了三个关于亚式期权的定价问题：平均周期是随机的几何平均亚式期权的定价；具有固定执行价格的算术平均亚式期权的定价和具有浮动执行价格的算术平均亚式期权的定价。

The main results are as follows:We review the existing Monte Carlo control variates estimators of the price of Asian options and propose a new one. According to pratical needs, we define efficiency as the inverse of the product of the variance of an estimator and its computational time and make it a standard for comparisons to draw the following conclusions: Firstly, the more control variates correlate with arithmetic average Asian options, the larger is the efficiency of an estimator with these control variates, but among which the geometric average option plays the most important role; Secondly, an estimator with more control variates is better than one with less ones only when the time to maturity is long and the volatility is high.

在综合已有研究工作的基础上，本论文的主要创新成果如下：（1）我们回顾了已有的亚洲期权价格的蒙特卡罗控制变量估计，并提出了一个新的控制变量估计，且从客观实际出发，将估计值的方差和计算时间的乘积的倒数定义为效率并以它为标准比较各估计，得到以下结论：与算术平均亚洲期权相关程度越大的控制变量构成的估计的效率越大，而其中起主要作用的控制变量为几何平均亚洲期权的价格；只有在到期时间较长且标的资产的波动率较大时，元素多的多元控制变量估计比元素少的效率大。

3We obtain the analytical price formulas for vanilla, forward-start and in-progress fixed-strike and floating-strike continuous geometric average Asian options and a put-call parity under generalized Black-Scholes with time-dependent parameters by risk neutral valuation and properties of stochastic integration.

在依赖时间参数的推广的Black-Scholes模型下，利用风险中性定价及随机积分的性质，得到平凡、远期开始和进展中的固定和浮动执行价格的连续几何平均欧式亚洲期权价格的解析公式和一个平价关系。

Number of the other side of record of the both sides after clinching a deal, trade the price and amount, give with gesticulation announce trade the exchange staff of an upper part, they input information computer, trade the price and amount are shown to be in by the row trade on the electronic screen of lobby upper part.

成交后双方记录对方号码。交易价格和数量，并用手势通告给交易场上方的交易所人员，他们将信息输入电脑，交易价格和数量被列示在交易大厅上方的电子屏幕上。

The inevitable result was today's higher prices, which will probably lead to glut and falling prices tomorrow.

而这不可避免的价格就是今天的价格升高。

On an inflation-adjusted basis, gold would have to hit $2,291.55 to equal its 1980 record, which makes gold bulls think it has higher to go.

黄金价格只有升至每盎司2，291.55美元，其经通货膨胀因素调整后的价格才能赶上1980年时的创纪录高点，这令看多黄金的人认为金价还会进一步上涨。

This gold-price expansion, set off by the massive short squeeze, will continue until gold prices reflect gold supply and Federal Reserve liabilities in circulation.

这 场由大规模轧空引发的黄金价格上涨将持续到黄金价格能反映黄金供应和美联储流通负债为止。

The group introduces his product so: Classmates have a lot of old clothing and other articles of daily use, threw regrettablly, staying trashy, in campus the booth that place the ground sells inconvenience clumsy also, we center these things in net inn consignment, from which collection commission; School dining room has a meal should discharge very long line, meal is not goluptious also, we order meal for classmates, press low case, earn price difference from which; School supermarket product little, price is expensive, outside school supermarket goes very far, we organize a group to buy regularly, it is cheaper to be bought together.

团队这样介绍自己的产品：同学们有很多旧衣物，扔了可惜，留着没用，在校园里摆地摊卖不方便也不雅观，我们把这些东西集中在网店寄售，从中收取佣金；学校食堂吃饭要排很长的队，饭菜也不可口，我们为同学们订餐，压低价格，从中赚取差价；学校超市产品少、价格贵，校外超市去一趟又很远，我们定期组织团购，一起买更便宜。

The main driving force behind the increase in fuel prices isn't price gouging (although it happens to a degree), it's demand.

背后的燃料价格上涨的主要动力是不是价格欺诈（尽管它发生在一定程度上），它的需求。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。