博弈

This paper analyses the homogenous tendency of open-end fund at first,pointing out that unperfect development of market and investors' immature investment opinions is the origin of such phenomena. Secondly,having compared the fund sizes and purchase fee rates of 25 open-end funds in China,conclude that there are problems of diseconomy of scale and indistinctive relativity between fees and achievement in Chinese open-end funds. Then this paper introduces benefit and cost function to analyze the problem of lack of motivation and constrain mechanism towards fund managers because of unreasonable fees in China. Thirdly,this paper analyze funds managers' normal hazards by static game model,and then points out fund managers have serious tunneling behaviors in Chinese open-end fund industry. In the end,this paper analyzes the causes of liquidity risk of open-end fun and the particularity of liquidity risk of open-end fund in China,and concludes that liquidity risk in Chinese open-end fund industry is higher through calculating the rates of share change and comparing the portfolio selections of top 20 open-end funds in China.

本文首先分析了我国目前存在的基金产品同质化现象，指出市场发展的不完善以及投资者投资理念的不成熟是同质化的根源所在；其次对比了我国现有的25只开放式基金的规模和申购费率，得出了我国开放式基金存在着规模效应不明显以及基金业绩与费率相关性不强的问题，并引入效益函数和成本函数分析了由于我国开放式基金费率不合理引发的基金管理者激励约束机制缺失的问题；再次，应用静态博弈模型分析了基金管理人面临的道德风险，指出目前我国开放式基金由于监管机制脆弱而存在着较为严重的管理者利益输送行为；最后，分析了开放式基金流动性风险的形成原因以及我国基金市场流动性风险的特殊性，并通过计算目前我国基金资产规模前20位的开放式基金的份额变动率以及比较它们的投资组合结构，得出了目前我国开放式基金流动性风险偏大的结论。

Studies of the resource allocation game with inelastic users in open-loop control are also given.

研究了无线网络中的功率分配博弈，证明了干扰的外部效应使得无线网络功率控制的效率变低。

The total payoff to a player is often taken to be the discounted sum of the stage payoffs or the limit inferior of the averages of the stage payoffs.

参与者在随机博弈中获得的全部报酬一般用各个阶段报酬的贴现值来计算，或者用各个阶段报酬平均值的下限来计算。

This will result complexity of information flow between players.

博弈逻辑的研究具有高度的复杂性。

This is like a chess game. I now can find quite some fun init.

越来越象一场博弈游戏了，我从中找到了许多的乐趣。

We study a dynamical two-team Cournot game with nonlinear cost and analyze the stability of inner equilibrium point of it.

通过数值模拟比较了均衡产量和均衡利润与对应的作为寡头博弈时的均衡产量和均衡利润的大小。

The evaluation of Internet QoS is naturally multi-discipline. This paper examines the Internet QoS evaluation by integrating QoS index with price factor. The multinomial logit model is adopted in this paper, which is used to model the choice behaviour of users.

Internet QoS评估是多学科领域的研究问题，本文从博弈理论的视角，基于多项罗吉特模型提出了综合考虑服务质量指标和价格因素的Internet QoS评估机制。

The individual action regulation that problem of enterprise interior ethics is industry member and the summation that its are not cooperative rich play chess to concern.

企业内部伦理问题是企业成员的个体行为规则及其非合作博弈关系的总和。

People's actions are always interrelate in the condition of scarcity and interdependent.

在周而复始的产权博弈中产生了国家，从此国家成为决定经济兴衰的关键。

Two kinds of policies do always interweave each other.

自由贸易与保护贸易既是博弈的，也是兼容的。

What would he tell Judith and the children?

他将怎样告诉朱迪丝和孩子们呢？

I this is at that time, the opinion with peacockish true girl is full of in a heart.

这就是当时的我，一个心中布满虚荣的女孩子真实的想法。