In 1738, Daniel, trying to solve a problem in probability theory and the theory of gambling by use of the calculus, stumbled on the concept of the law of diminishing marginal utility of money.

在1738年，丹尼尔试图用微积分来解决一个概率论和赌博理论里的问题，无意间却发现了货币的边际效用递减法则的概念。

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After coming upwith this egregious fallacy, Bernoulli topped it by blithely assuming thatevery individual's marginal utility of money moves in the very same constantproportion, b.

更为糟糕的，在提出这个令人震惊的谬论后，伯努利又漫不经心地假设说，每个人的货币的边际效用也以同样的常量b变化。

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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

youdao

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

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UBS's Mr. Zirin says investors who have too much money in the utility and telecom sectors, which investors tend to seek out for high yields, might want to diversify into consumer staples and industrials, which have lower yields but stronger growth characteristics.

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This means that these investors can reap-of a gain of 2.59 percent by investing the money in a utility ETF like XLU, a 3.60 percent gain by investing in an individual utility company like Duke Energy, and a 4.65 percent gain by investing in a tobacco company like Altria Group.

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He believes a prudent way to invest your money is in the intermediate bonds of operating utility companies.

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