-
If these are my payoffs I should go ahead and choose Alpha because that way I end up getting 3.
如果我关心我成绩我应该直接选α,因为那样我能得到3单位效用
-
It's always upward sloping, but it may, after awhile, you get close to satiation where you've got enough.
斜率永远是正的,但是也有可能,你拿的钱够多,效用将不再上升
-
Suppose I reason and say if we, me and my pair, both reason this way and choose Alpha then we'll both get 0.
假如我和我队友都这么想,如果我们都选α我们得到0单位效用
-
It turns out that these different smiles have real psychological validity.
这说明这些不同的微笑,有真正的心理学效用。
-
So, one that perhaps does not reproduce in such high numbers that you create an overwhelming infection, but one that still goes through its lifecycle but is limited in its effect.
因此,一方面这些病毒不会大量复制,从而不会导致暴发性的感染,另一方面,它依旧在进行生命周期循环,只不过对其效用进行了限制
-
So you get the profits of the firm minus the disutility of having missed all that sleep.
你的收益是公司的利润,减去放弃了休息的负效用
-
What finance theory is based on-- and much of economics is based on-- the idea that people want to maximize the expected utility of their wealth.
金融学理论建立在,并且很多经济学的都是建立在,人们希望能使自己对,财富的期望效用最大化这一基础上
-
We both end up with payoffs of 0, rather than payoffs of 1.
我们的收益是0单位效用,而不是1单位
-
To calculate the expected utility of your wealth, you might also have to look at the expected return, or the geometric expected return, or the standard deviation.
要计算你财富的期望效用,你也许还要研究预期收益曲线,或几何预期收益率,或是标准差
-
Whether to gamble, based on efficient-- based on expected utility theory.
例如赌博,你们是注重效率呢,还是注重预期效用
-
I have some kind of moral conscience and after I've subtracted off my guilt feelings I end up at -1, so think of this as guilt: some notion of morality.
而晚上睡不着觉,所以减去我的负罪感的负效用后,我只得-1,把它看成负罪感吧
-
But if we both reasoned a different way and chose Beta, then we'll both get 1.
但是如果我们都换个想法去选β,那我们就都得到1单位效用
-
On the lead diagonal we still and But now the grades here are have and I'm sorry--the payoffs are , and here they're .
对角线上的还是和,但是这两处的成绩是,抱歉,效用是和
-
Well the first idea is that these numbers represent utiles or utilities.
首先这些数字代表了效用或者说功利
-
And once I know that she's going to choose Alpha, it's clear that I should choose Alpha and get 0 rather than Beta and get -3. So I should choose Alpha also.
一旦我意识到她会选α的时候,很显然我应该也选α来得到0单位效用,而不是选β只得到-3,所以我也选α
-
The exact shape of the curve is subject to discussion, but the point of diminishing marginal utility is that, as you get more and more money, the increment in utility for each extra dollar diminishes.
这条曲线的确切形状还有待讨论,但是边际效用递减规律的重点在于,你得到的钱越多,每额外的一美元的增长效用会相对减小
-
And we'll assume that the amount of disutility you get from being far away from the winner is 1/17th of the distance, each of these, each place is worth 1/17th of a $1.
我们假设远离获胜者,导致的负效用的金额,是整个距离的1/17,每个位置价值1美元的1/17
-
That is expected utility theory.
预期效用理论
-
Of course, we will also be talking about behavioral finance in this course and we'll, at times, be saying that the utility function concept isn't always right-- the idea that people are actually maximizing expected utility might not be entirely accurate.
当然 我们还会,在这门课上讨论行为金融学,并且,我们会间或,讨论到效用函数不总是正确的,人们希望最大化期望效用的观点,也许并不是完全准确的
-
That is, share repurchase can change the units of measurement in a security and companies have to decide how leveraged the stock will be, which changes the stock price--leverage, meaning how much debt the company takes on.
即 股票的购回会改变,已发行股票的单位数量,公司需要决定,股票的杠杆效用是多少,杠杆会改变股价,杠杆指的是公司举债的多少
-
It isn't just that I got a C; i got a C because she made me get a C, so that moral indignation takes us down to -3.
不仅我得了C,这还是她害我得C的,道义上的谴责又减去了3单位效用
-
Suppose I get an A and my pair gets a C, then sure I get that initial payoff of 3, but unfortunately I can't sleep at night because I'm feeling so guilty.
假如我得到A我对手得C,没错我开始得到3单位效用,但我感到愧疚,我因良心受到谴责
-
The idea is that for any amount of money-- if this x is the amount of money that I receive-- utility as the function of the amount of money I receive is downwardly-concave.
这种观点是对于任何数量的货币,假设我得到x数量的货币,随着货币的增加,边际效用呈,向下凹进去的曲线
应用推荐