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Ⅲ动态交易策略和不完全均衡 一般来说,只有使用动态交易策略对收益进行综合分析才能从被动投资中得出最佳的推论。典型的权宜最佳的做法是,选取任意一组证券,利用动态交易策略对一组最终收益进行综合分析。交易策略的动态性是人们对任意一组蕴含于证券之中的各种债权进行分析的技能。它的重要性还未得到人们的足够重视。例如,假如市场处在动态状况下(即,有足够数量的证券可用来对收益进行综合分析,而该项收益表现为不确定的各种来源的一种任意功能),那么,个体交易者会感到,确立交易规划,以便使每个交易者的消费将呈现为总消费中一种非随机功能,这一行为是最理想的。但是,那些用于实现这个目的各
III. Dynamic Trading Strategies and Incomplete Equilibrium Generally speaking, the best inferences can only be drawn from passive investment by comprehensive analysis of returns using dynamic trading strategies. A typical bargaining best practice is to pick any set of securities and use a dynamic trading strategy to synthesize a set of final returns. The dynamics of trading strategies are the skills people analyze for any set of various claims embedded in securities. Its importance has not been given enough attention by people. For example, if the market is in a dynamic state (ie, there is a sufficient quantity of securities available to make a comprehensive analysis of returns that is an arbitrary function of various sources of uncertainty), individual traders will Feel that establishing a trading plan so that each trader’s consumption will appear as a non-random function of total consumption is most desirable. However, those are used for this purpose each