Because it represents foreigners investing in United States and that generates rates of return that effectively can generate that growth.
其实这和外国人在美国投资的道理是一样的,投资带来的收益,是由美国来埋单的,因而,实际上也同样导致了美国债务的增长。
If you accept my estimates and you accept the capital asset pricing model, that would have to be true.
如果你同意我的估算,而且认同资本资本资产定价模型,那这种投资组合就会带来最大收益。
So very similar idea, but the only thing is, I'm slightly abusing notation here by saying that my payoff depends on my strategy and a belief, but what I really mean is my expected payoff.
这和以前的概念差不多,唯一的不同,就是我这里稍微用了一些数学符号,来表述策略带来的收益与所持信念有关,这里的收益指的是预期收益
So to say it in words, Player i's strategy "s'i" is strictly dominated by her strategy "si," if "si" always does strictly better -- always yields a higher payoff for Player i -- no matter what the other people do.
用文字来描述就是,参与人i的策略s'i严格劣于si,如果si总是更好的选择,即总能给参与人i带来更高的收益,而无论其他参与人怎么选
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