Asymmetry information will cause adverse selection and moral hazard, at last, it will lead invalidation of market.
信息不对称的存在会引起逆向选择和道德风险的问题，最终导致市场失效。
The risks are from electricity market undulation, the rise of policies execution cost, inertness after finishing the quotient and the policies invalidation.
而实施后的风险主要来自于电力市场波动、政策执行成本上升、完成配额标准后的“惰性”和政策失效等四个方面。
Under the market segmentation, the classic CAPM is going to be invalidation.
在分割市场下，不同的投资者有不同的前沿组合，经典的CAPM模型将会失效。
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