查询词典 spread arbitrage

Innovations quickly become commodities, enable arbitrage and lead to more distributed systems. Combining all three is the recipe for Dabba, a South African wireless start-up, which has pioneered an idea called the "village telco".

新技术迅速变成商品，激活套利，同时导向更多的分布式计算机系统，综合以上3点就是Dabba的秘诀，Dabba是南非一家倡导&乡村电信&概念的无线技术创业公司。

Exogenously determined market risk price might conflict to the no-arbitrage assumption.

外生给定的市场风险价格有可能与无套利假定之间存在内在冲突。

The relationship between no-arbitrage and the existence of an optimal consumption is revealed in a frictional market with nonproportional transaction costs.

对于不成比例交易费（固定交易费与成比例交易费）的市场，讨论了无套利与最优消费的关系。

Arbitrage is a usual transaction behavior in order to make profits. It is the possibility of riskless profits.

套利是一种常见的，以获利为目的的交易行为，它是基于无风险的超额利润产生的。

If an asset has riskless super profits, there is arbitrage opportunity in the market.

如果某个资产在无风险的超额利润，就会产生套利行为。

If an asset has riskless super profits, there is arbitrage opportunity in the market.

如果某个资产存在无风险的超额利润，就会产生套利行为。

The elimination of riskless profit opportunities in the futures market is referred to as arbitrage.

期货市场上消除无风险的利润机会被称为套利。

Therefore, it can be regarded as a great improvement of the investment decision-making theory and methods .This article makes a systematic research on real options theory and method and its application, including the following several main aspects:Firstly, it makes a detailed discussion about the common theoretical basis of financial options and real options, including no-arbitrage equilibrium principle, risk-neutral definition, complete market and dynamic tracking.Secondly, it analyze three basic characteristic of investment decision-making in modern market economic system: irreversibility, uncertainty and flexibility, and from the angle of their mutual quantitative and qualitative interactions, it makes a comparison between the traditional NPV methods and real options methods and makes a summary of the general analytical methods of real options.Thirdly, it discusses the all elements in the application of real options such as the ^leakages in value of real assets, basis risk, and private risk, and furthermore, it attempts to put forth a normalized strategy of its application and construct a basic framework of its application.Fourthly, it applies real options theory to strategetic investment of enterprises and the buy-out of company, putting forth a value model for strategetic investment program and making a concrete analysis of its application to buy-out. Furthermore, it advocates that a flexible investment decision-making system should be setup according to real options theory in our country.

本文对实物期权理论和方法及其应用进行了系统研究，主要内容包括如下几个方面：(1)详细讨论了金融期权和实物期权共同的理论基础，主要包括无套利均衡原理、风险中性定义、完全市场以及动态复制方法，对这些理论方法的探讨既是本文的出发点和基础，它们提供了研究实际应用实物期权的一个基准点，也是贯穿全文的线索和灵魂；(2)分析了现代市场经济体系中投资决策的三个基本特征即不可逆性、不确定性和时机选择，并从它们数量上和质量上相互作用的重要意义的角度，分析了传统的净现值法与实物期权方法的差异，指出了净现值法在不确定环境中存在的缺陷及实物期权处理投资灵活性的价值，并将净现值法纳入实物期权投资分析决策体系当中，总结了企业投资决策实物期权的一般分析方法；(3)探讨了实物期权应用中要考虑的各种要素，如实物资产的价值漏损、基差风险和非市场风险等，并进一步提出了实物期权应用的规范化策略和构建了一个实际应用实物期权方法的基本框架，尝试将期权的基本原理与企业在现实经济环境中投资决策的要素结合起来，从而可以在一定程度上超越期权的复杂的数学计算而汲取期权思想的精华，从而促进期权决策方法在实际投资决策中的应用；(4)将实物期权方法应用于企业战略投资，得出了战略投资项目的价值模型，指出可以将实物期权理论和方法应用于企业并购，分析了应用的具体方面，并提出应根据实物期权理论建立一套适合我国企业的灵活的投资决策系统。

For the security market with restricted borrowing and short sale unallowed, Options pricing formula are advanced, and the relation between them and Black-Scholes Options pricing formula is discussed. The essence of Black-Scholes Options pricing formula is set forth. To the security market with restricted borrowing and short sale unallowed, stock returns risk pricing formula is advanced and the demonstration analysis of China security market is provided. From the demonstration analysis, arbitrage exists in China security market, which can be applied to explain the riddle of a great deal of China bank money and hot money swarming into China security market.

本文在B-S期权定价的基础上，直接利用股票本身的参数推导出股票收益率风险的定价公式；对不允许融资和卖空的证券市场，给出了看涨期权和看跌期权的定价公式，并讨论了他们和相应B-S期权定价公式之间的关系；对B-S期权定价公式的本质做出了阐述；对不允许融资和卖空的证券市场，给出了股票收益率风险的定义；利用股票收益率风险的新定义，对中国证券市场进行实证分析，得出中国证券市场存在套利，解释了2006年和2007年中国大量银行资金和国外热钱流向中国股市之谜。

4Basis on the analysis of the risks of arbitrage on stock index future in China, there are lots of risks induced by the unconsummated spot market besides common risks.

需要套利交易者引起重视以及谨慎判断现实交易过程中的套利机会。

For you say, My doctrine is pure, And I am clean in Your eyes.

11：4 你说，我的道理纯净，我在你眼前清洁。

The method takes make water sedimentary in patient of be in hospital of leucocyte grow in quantity 30, according to clean middle make water bacterioscopy result, distinguish the patient to affect group and blame infection group, pathology of puncture of farther travel kidney analyses blame infection form.

方法取尿沉渣中白细胞增多住院患者30例，根据清洁中段尿细菌检查结果，将患者区分为感染组和非感染组，非感染组进一步行肾穿刺病理分析。