股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。

The dividend discount model is the essential method used to estimate the stock intrinsic value. No-arbitrage equilibrium theory is the foundation of present financial theory.

youdao

股息贴现模型是估计股票内在价值的基本方法，无套利均衡是现代金融理论的基础。

The dividend discount model is the essential method used to estimate the stock intrinsic value.

youdao

进而，将此与文献中关于关联价值模型下的均衡投标策略进行了比较分析，并解释了网上拍卖实践中的一些现象。

Then, we compare this strategy with the last-minute bidding strategy presented in the literature for the case of interdependent valuations, and we interpret some bidding behavior in practice.

youdao