horizon effect meaning in English
视界效应
Examples
- Result shows , the uncertainty of parameter leads to negative ( positive ) investment horizon effects when investor ' s risk aversion is more ( less ) than that of logarithmic utility ; the effects of parametric uncertainty will weaken when investor uses more past data in his estimation , or when his risk aversion increases ; the effect of the first order moment ' s uncertainty is stronger than that of the second order moment ' s uncertainty
研究表明，当投资者的风险规避程度大于（小于）对数效用时，参数不确定性将导致负（正）的投资期效应；当投资者在估计过程中运用较多的历史数据、或者风险规避程度增加时，参数不确定性的影响将减弱；收益一阶矩的不确定性影响较其二阶矩强。