最优策略要求理性的（机构）投资者以折价获得分配的新股，然后在上市后逐渐转售给狂热的个人投资者。

The optimal strategy requires rational investors be allocated the new issues at a discount and then resell them to exuberant individual investors after going public.

youdao

研究了在非瓦尔拉斯市场中，当市场的价格冲击函数为变现速度的非线性函数时，投资者的最优变现策略和最优变现时间问题。

In a non-Walrasian market with nonlinear price impact function, the optimal liquidation strategy and optimal liquidation time are investigated for institution investors.

youdao

在供应曲线为线性形式时，使用极大值原理方法，得到了机构投资者最优变现策略的解析形式解；

There were two situations as follows: as the supply curve was linear, the analytical solution was presented by implementing;

youdao

在供应曲线为线性形式时，使用极大值原理方法，得到了机构投资者最优变现策略的解析形式解；

There were two situations as follows: as the supply curve was linear, the analytical solution was presented by implementing;

youdao