Pricing formulas and stratagems of hedging and preserving value foe European contingent claims are discussed with no risk neutral valuation.

在非风险中性定价意义下，研究了欧式未定权益的定价和套期保值策略。

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But this leads immediately to overbidding, because risk-neutral equilibrium bidding entails a great deal of shading: a buyer will bid only one-half her valuation.

不过其直接的结果就是喊价过高，因为风险-中性的竞标者在均衡时的喊价要求作相当程度的削减：竞标者的喊价只能是其评价的一半。

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Credit Suisse is neutral on Netflix shares (due to valuation concerns and headline risk) despite what it sees as a healthy growth outlook in the Canadian market and beyond.

FORBES: The Netflix Effect: Results From A Revealing Study in Canada