在此基础上，根据递减绝对风险规避者的效用函数集合的特征，分析并证明其决策准则，给出定理4、定理5。
According to characteristics of the decreasing absolute risk averter's utility functions, the paper analyzes and proves its decision rules, gives the theorem 4 and theorem 5.
第一，把国债划分成几部分，蓝色债券被提高的安全保障，最终会以红色债券为代价- - -这对风险规避者成了烫手山芋。
First, by dividing sovereign debt into tranches, the enhanced safety of the blue bonds would come at the expense of the red ones-which could become red-hot for risk-averse investors.
现实生活中，投资者大多是风险规避者，只是风险规避程度不同而已，因此，风险规避投资者的行为对问题的研究具有重要的意义。
In real life, investors are mostly partial to risk aversion just to have different degree. Therefore, studying behaviour of investors partial to risk aversion has important significance.
但体现出社会契约或者风险规避的问题则相反，非精神病态者70%的时间都做对了。
For problems cast as social contracts or as questions of risk avoidance, by contrast, non-psychopaths got it right about 70% of the time.
全球多数主要股市受到的最严重影响也仅仅是小幅下跌，同时外汇市场上投资者风险规避倾向上升的迹象也相当有限。
Most leading stock markets suffered only modest falls at worst and there was limited evidence of rising risk aversion in currency markets.
该工具的全部意义在于让公司规避风险，但是如果规则对最终使用者更加有利，而不是金融公司；那么交易就会转向他们，同时远离银行。
Allowing companies to hedge their risks is the whole point of the instrument. But if the rules favour them over financial companies, trading will tend to migrate towards them, and away from Banks.
这是一轮巨大的赌注，他把自己扮演成只不过是一个古代人思想的传播者以期规避风险。
This was an enormous gamble but he hedged the risk by describing himself as no more than a transmitter of older ideas.
原因目前还不得而知，但是有一个可能的解释是，经营者感到危险到来时出现规避风险的趋势就会造成股价下跌。
Why this happens remains unclear, but one possible explanation is that the falling prices were caused by traders' tendency to exit risky positions when feeling strung up.
资本流入近年来在推动本地需求方面发挥了重要作用，但随着规避风险的投资者远离新兴市场，资本流入几乎枯竭。
Capital inflows, which played a big role in fueling local demand in recent years, have all but dried up as risk-averse investors shun emerging markets.
冷静、保守、规避风险的机构，旨在接手客户的资金，然后谨慎地借贷给优质企业或消费者。
Sober, conservative, risk-averse institutions designed to midwife customers' capital and enable prudent lending to deserving businesses and consumers.
情形往往是这样子的：为了规避定期而痛苦的金融波动，不惜收紧控制来制约风险投机者。
At times like this, the temptation is for tighter controls to rein in risk-takers, so that those regular, painful crashes could be avoided.
一提及如何规避互联网风险，应答者就肯定的说最好的方法就是自己负责重要部件的生产和重要流程的操作环节。
When asked how they mitigate IP risk, respondents answered overwhelmingly that the best move is to insource sensitive components and processes.
它们真像它们的狂热者说的那样是规避风险，是金融系统更安全的好办法吗？
Are thesedevices a clever way to disperse risk, making the financial system safer, astheir enthusiasts claim?
经理人忙着扑灭后院的火，由于投资者要规避风险，资金来之不易。
Managers were busy putting the fire out in their backyard, and money was hard to come by as investors became risk averse.
这些手段允许投资者规避主权违约风险，而另一方赌的就是发生违约。
These instruments allow investors to hedge the risk that a country reneges on its debt and let others bet that such a default will happen.
投资者向来视黄金和国债为规避风险的避风港。
Both gold and Treasury bonds could be classed as "safe haven" assets that investors buy when they are risk-averse.
希在债券市场上的借贷成本虽不如以前低了，但借贷同样容易，甚至在投资者规避风险资产行为于去年3月达到顶峰时也是如此。
It could still borrow easily, if not as cheaply, in bond markets even as investors' aversion to risky assets peaked last March.
尾风险产品的个人投资者喜欢拿它们和保险相比：投资者每年都需要付保险费以规避之后的金融灾难。有的人甚至能从中学到哲理。
Peddlers of tail-risk products like to compare them to insurance: investors pay premiums every year to avoid financial.
参与者对本次活动的潜在风险已完全知晓并具有正常的判断及规避能力。
Participants have learned the ventures entirely and how to judge and get avoid of the ventures.
房产律师提醒对于购房者而言，为了规避将来可能出现的缴纳费用的风险，在同等的条件下，当然是选择土地产权时间越长的楼盘越好。
For property buyers, in order to avoid possible risks to pay the cost of the future, under the same conditions, of course, is to choose the right time for the development of land property, the better.
这些研究结果强调市场细分的作用和投资者对风险的规避对债券的利用具有推动作用。
These findings emphasize the role of market segmentation and investor risk aversion on the use of catalytic bond.
日元在风险规避时往往被投资者看作一个小型的安全天堂，这使得日元对美元能够保持平稳并且对欧元能够稳步强势。
The JPY is treated by investors as a mini safe haven in times of risk aversion, which has enabled it to remain stable against the USD and strengthen against the EUR.
投资者规避风险这意味着债务市场的流动性将会因为利率的上升而大受影响。但这样说还为时尚早。
Investor flight from risk means that debt market liquidity could dry up as interest rates rise. But it is too early to tell.
在过去，掉期交易者在形成掉期合同后可以申请免除限制的资格以规避风险。
Swap dealers used to be able to qualify for exemptions to hedge their risk after they wrote a swap.
与主权债务价值有关的资产投资者还是可以通过购买主权CDS来规避承受风险，但是这种免税权适用于哪种财产尚不明确。
Investors in assets that are correlated with the value of sovereign debt will still be allowed to hedge their exposure by buying sovereign CDSs but it is unclear to what assets that exemption applies.
摘要：风险规避条件下，如果企业家无资本或部分有资本，那么企业家必须与投资者合作；
Abstract: Based on risk aversion, the entrepreneur has to cooperate with the investor when having no capital or only a part.
鉴于从长期来看中国消费者的相对风险规避程度有下降的趋势，过分的依赖于低币值的汇率政策来解决失业问题是不可行的。
Regarding that China's relative risk aversion exhibits a long-run decreasing trend; it is infeasible to over-depend on the weak RMB policy so as to solve the unemployment problem.
一方面实现保险的保障功能，另一方面又要规避潜在的道德风险，两者兼顾就顺理成章地成为海上保险法的法律宗旨。
On one hand, the marine insurance should protect the insured. On the other hand, it also should stop moral risks.
交易者可以通过电力期货交易规避价格风险，通过现货市场维持负荷平衡。
Traders can hedge price risks in the futures market and keep load balances in the spot market.
交易者可以通过电力期货交易规避价格风险，通过现货市场维持负荷平衡。
Traders can hedge price risks in the futures market and keep load balances in the spot market.
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