Neither do the dealers determine the term structure; the dealers have to buy and sell at prices that are in the market.
中间商也不能决定,中间商只能按照市场价进行交易
well, that's the way Wall Street works or at least a -some people say markets are efficient and stock prices incorporate all information.
华尔街就是这么运作的,一些人认为市场是有效的,股票价格是各种信息的综合体现
There's one other possibility here I've missed which is what if Pepsi prices at marginal cost itself?
这里还缺少一个可能性,即,如果百事定价在边际成本怎么办
You're able to get bigger and bigger displays at cheaper and cheaper prices.
你能够以越来越低的价格,买到越来越大的显示屏了。
People are looking at stock prices to see patterns that they remember that are prominent in their thinking and then those patterns are given an exaggerated probability.
人们在记忆中寻找,过去股价变动的模式,这些模式已经深入人心,并且这些模式的概率被夸大了
So where is--suppose he's pricing-- We'll say the prices are between 0 and 1, suppose he's pricing at .8, what would be a good price for me to set?
如果他定价,假设他的价格,取值在0和1之间,假设他的价格设定在0.8,我应该设定哪个价格比较好呢
How do the prices and yields look at various points in time?
在不同的时点上,价格和收益会怎样变化呢
She is also a PhD candidate in Economics and is doing research on the behavior of options prices in a phenomenon called the "Options smile," as she's smiling at me right now.
她也在攻读经济学博士学位,目前正在研究"期权微笑",也就是,期权隐含波动率微笑现象中的价格变动趋势,她现在正对我微笑呢
It tells me the other way around to look at how prices correspond to quantities, it tells me the quantity demanded at any given price.
它直观的显示出,价格如何与产量对应,即在给定的价格上需求量是多少
What if Pepsi prices at marginal cost?
如果百事定价在边际成本怎么办
In '98, I forget which way, but one of the share classes 20% was at a 20% discount to the other and that persisted for several years, so you have economically identical things trading at different prices.
在98年,我不记得是为什么,一支这种类型的股票,比另一只股票便宜,而且这种现象持续了好几年的时间,因此你拥有经济意义上完全相同,但是却以不同价格进行交易的东西。
At C okay, so the Nash Equilibrium here, the Nash Equilibrium is for both firms to set their prices equal to marginal cost.
价格定在C,好的,所以这里的纳什均衡,纳什均衡是两家公司都把它们的价格,设定在边际成本
Home prices are falling at the highest rate we've ever seen. I have my own index s Case-Shiller indexes the Standard & Poor's Case-Shiller indexes and we announced our indexes yesterday.
房价正在以我们从未见过的速度下跌,我有自己的一个指数,名字叫The,Standard&Poor’,而且昨天我们公布了我们的指数。
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