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Assuming that investors pursue the maximal appetite. We emphasize, the carriers of value are relative changes in wealth, neigher changes nor absolute levels or final outcomes. And there are two securities traded one of which is riskless and the other is risky.
假设投资者追求欲望最大化,投资者从最终财富的相对变化中获得欲望,而不是依赖于其变化,或者仅仅依赖于最终财富本身,而且假设市场上只有两种证券:一种是无风险债券;一种是有风险之下的股票。
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Business School of Wuhan Universty, Wuhan 430072, ChinaAbstract : In this paper , we present an equilibrium model of asset pricing. The basic model considers a production economy of two classes of investors with habits formations: one class have "internal habit" such as those in Constantinides (1990) and Sundaresan(1989), habit depends on an agent's own consumption and the agent takes account of this when choosing how much to consume; the other class have "external habit" such as those in Abel(1990) and Campbell and Cochrane(1991), habit depends on aggregate consumption that is unaffected by any one agent's decisions.
本文建立一种拥有两类投资者的模型:一类具有Constantinides(1990)和Sundaresan(1989)模型中的&内在性消费习惯&,该习惯依赖于其自身的消费,投资者在进行消费选择时均要考虑内在消费习惯的影响;另一类具有Abel(1990)、Campbell和Cochrane (1999)模型中的&外在性消费习惯&,该习惯依赖于总的消费水平但不影响消费决策。
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For m-modal maps with m turning points C1,C2,…,Cm, by defining equivalent scaling factors α_e as the geometric average of all scaling factors α_Ci (i=1,2,…,m),|α_e|=|α_C1α_C2…α_Cm|1/m, global superuniversal relationship between equivalent scaling factors α_e and fractal dimensions d of Feigenbaum-type attractors on all the infinitely many critical points of transitions to chaos is obtained: dlog_|α_e|=β~, where|W| is the basic period of the m-tuply superstable sequences W, and β~ is not only independent of the concrete sequences W, but also independent of the concrete maps.
对于具有m个转变点C_1,C_2,…,C_m的m峰映射,通过定义等效标度因子α_e为所有标度因子α_(i=1,2,…,m)的几何平均,|α_e|=|α_(C_1)α_(C_2)…α_|~(1/m),得到了等效标度因子α_e与所有无穷多个转变至混沌的临界点上Feigenbaum型吸引子的分维d之间的一个整体性的超普适关系:dlog_|α_e|=β~(e,其中|W|是m超稳序列W的基本周期,超普适常数β~(e不仅不依赖于具体的序列W,而且也不依赖于具体的映射。
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For m-modal maps with m turning points C1,C2,…,Cm, by defining equivalent scalingfactors α_e as the geometric average of all scaling factors α_Ci (i=1,2,…,m),|α_e|=|α_C1α_C2…α_Cm|1/m, global superuniversal relationship between equivalent scaling factors α_e and fractal dimensions d of Feigenbaum-type attractors on all the infinitely many critical points of transitions to chaos is obtained: dlog_|α_e|=β~, where|W| is the basic period of the m-tuply superstablesequences W, and β~ is not only independent of the concrete sequences W, but also independent of the concrete maps.
对于具有m个转变点C_1,C_2,…,C_m的m峰映射,通过定义等效标度因子α_e为所有标度因子α_(i=1,2,…,m)的几何平均,|α_e|=|α_(C_1)α_(C_2)…α_|~(1/m),得到了等效标度因子α_e与所有无穷多个转变至混沌的临界点上Feigenbaum型吸引子的分维d之间的一个整体性的超普适关系:dlog_|α_e|=β~(e,其中|W|是m超稳序列W的基本周期,超普适常数β~(e不仅不依赖于具体的序列W,而且也不依赖于具体的映射。
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The calculated results based on the pressure-dependent spall porosities given by Tonk et al and Cochran et al are consistent but different from the calculated results based on Thomason's stress-dependent spall porosity.
Cochran等给出的依赖于压力的层裂空隙度方程所作的一维层裂试验数值模拟结果基本一致,而与基于P.F。 Thomason给出的依赖于应力的层裂空隙度方程所作的相应数值模拟结果有明显差异。
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RESULTS: Concept, acquire style and characters of memorizing, undermaster the memorizing-like knowledge depends mainly on simple memory,few related to understanding and experiencing, with strong inheriting and depends on the logic , and memorizing was relatively secondary , also with large scale depends on experience as well as the feeling based on experience.
结果:提出了记忆、理解和体验三类知识划分的概念、获取方式和特征。①记忆类知识的掌握主要依赖于单纯的识记,较少涉及理解和经验,具有很强的继承性和传播性。②理解类知识的掌握主要依赖于逻辑,记忆处于相对次要的地位,也具有可继承性和可传播性。
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Do the frequencies at which resonance occurs depend on the linear density of the wire Do the shapes of the resonance patterns (locations of nodes and antinodes) depend on the linear density of the wire
共振频率是否依赖于金属丝的线密度共振模式的形状是否依赖于金属丝的线密度
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Do the frequencies at which resonance occurs depend on the tension of the wire Do the shapes of the resonance patterns (locations of nodes and antinodes) depend on the tension of the wire
共振频率是否依赖于金属丝所受的张力共振模式的形状是否依赖于金属丝所受的张力
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Do the frequencies at which resonance occurs depend on the tension of the wire Do the shapes of the resonance patterns (locations of nodes and antinodes) depend on the tension
共振频率是否依赖于金属丝所受的张力?共振模式的形状是否依赖于金属丝所受的张力?
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Do the frequencies at which resonance occurs depend on the linear density of the wire Do the shapes of the resonance patterns (locations of nodes and antinodes) depend on the linear density of the wire
通过换线来改变其线密度。共振频率是否依赖于金属丝的线密度?共振模式的形状是否依赖于金属丝的线密度?
- 推荐网络例句
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According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.
曝气设备的动力效率在叶轮转速为120rpm~150rpm时取得最大值,此时氧利用率和充氧能力也具有较高值。
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The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.
稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世,形体几无变化。
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When I was in school, the rabbi explained everythingin the Bible two different ways.
当我上学的时候,老师解释《圣经》用两种不同的方法。