Based on an analysis of the theories of state price and stochastic discount factor in financial economics, the paper makes the conclusion that asset pricing is concerned with behaviors.

This paper introduces the emergence and development of asset-pricing theory, and then focuses on the stochastic discount factor model ( SDF) and the empirical study.

介绍了资产定价理论的产生和发展，主要分析了随机折现因子模型（SDF）及其实证研究。

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Using the data of the project mentioned above, if we select a2% discount factor, we get a positive NPV of$ 8.

用上述例子中的数据，用2%的折现率净现值为正8。

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Moreover, a heuristic is proposed to simplify the computation of variable discount factor when the process disturbance follows MA ( 1).

同时，为了简化计算，讨论扰动项为MA（1）时数值最优解的近似公式。

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Compared to the static optimal contracts, the dynamic ones are much more complex and will be affected by the value of discount factor.

与静态最优合约相比，动态最优合约形式更为复杂，并且可能受到贴现因子的影响。

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However, as money in future is worth less than money now, the creditor suffers losses from the discount factor.

但是，由于未来货币价值没有现在多，债权人要损失一部分。

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Moreover, the equation still includes three parameters: output elasticity of labor, subjective utility discount factor and relative risk aversion.

另外，该方程还包含了三个待估计参数：各产业劳动产出弹性以及消费者的主观效用贴现因子和风险规避系数。

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If financial market have been in the Steady State, the product of the stochastic discount factor and must have been less than one.

当金融市场处于稳态时，随机折现因子和的乘积一定小于1；

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The optimal innovation size of group-corporation depends on discount factor, its type, price and wage.

集团公司的最优创新大小依赖于贴现因子、它的类型、价格和工资。

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Externality, Discount Factor and Merger Incentive

外部性、贴现因子与兼并动机

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The index system includes local utilization potential, actual runoff, discount factor of slope runoff and runoff potential.

该指标体系包括：就地利用潜力指标r1、实际径流指标u、坡地径流的折减系数K和径流潜力指标r2。

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Also this thesis analyzed the discount factor of the bargaining model and conducted application research combined with instances.

本文还分析了讨价还价模型中贴现因子的影响因素，并结合实际节能改造项目给出了模型算例。

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The Analysis of Stochastic Discount Factor

随机折现因子分析

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Dynamic Risk Aversion, Stochastic Discount Factor and Asset Pricing

动态风险厌恶、随机贴现因子与资产定价

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Study on Determining Discount Factor in the Analysis of Consumer Behaviour

消费者行为分析中贴现因子的确定方法研究

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The outstanding characteristics of this email application is that it can send and accept email automatically in software systems. At the same time, it can also obtain the directory inquiries.

该邮件应用的特点在于能在应用软件系统中自动发送和接收电子邮件，同时还能获得地址薄的信息。

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ROME ( Reuters)-The next time you call directory inquiries in Italy, you may speak to a convicted ( 1) murderer.

罗马（路透社）-下次到罗马打查号台，您可能碰上一个被判刑的杀人犯为您服务。

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The birds rose and dip in their flight.

鸟儿一上一下地飞翔。

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The process starts when there is a dip in levels of an enzyme called catalase.

这一过程始于过氧化氢酶的水平下降。

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He hollowed out a small dip in the ground.

他在地上挖出了一个小坑。

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On a hot day a dip in the sea is a sheer paradise.

热天洗个海水澡是十分令人惬意的事。

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