The models of pricing the stock option including the Black-Scholes model are on the assumption that investors are risk-neutral. The executives which are human capital to work and whose wealth is un-diversified are risk-averse.
用布莱克—斯科尔斯等模型计量的股票期权价值是针对风险中立的投资者的,而对于以人力资本投入工作、其财富非多元化的风险厌恶型的经理人来说,其认可的股票期权价值低于布莱克—斯科尔斯等模型计量的股票期权价值。
参考来源 - 上市公司股票期权激励有效性研究·2,447,543篇论文数据，部分数据来源于NoteExpress
本模型以收益分享机制为基础，假设在信息对称的条件下，供应链中出售单一产品，供应链各成员均是风险中立。
Based on the revenue-sharing mechanism and the symmetrical information, supply chain sells the only one kind of product and all the members in the supply chain are risk neutral decision-makers.
总之，62%的报道，在儿童抗抑郁药物使用的风险vs好处的争论中，给人留下“中立”的印象，作者总结道。
Overall, 62 percentof the stories delivered “neutral” overall impressions about the risksversus benefits of pediatric antidepressant use, the authors concluded.
风险来自网络中立性原则：运营数据通道的有线和电话公司应当对所有流量一视同仁-任何人均不应逾越此线。
At risk is a principle known as network neutrality: Cable and phone companies that operate the data pipelines are supposed to treat all traffic the same — nobody is supposed to jump the line.
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