来自《耶鲁大学开放课程：金融理论 第5集 第5集》

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  produces.
  它的产出收益
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  So D^(alpha)_2 is what people expect the output of
  D^(alpha)_2 表示去年
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  the stock to be next year which is the last year we're worrying
  人们期望中下一年的股票价格
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  about, and D^(beta)_2 which
  D^(beta)_2 表示股票在下一年的收益
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  is 2 is what people expect the stock to produce next year.
  股票在下一年的收益
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  And we're going to assume that perfect foresight here.
  我们在这里假设人们都有精准的预期
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  So Fisher says, "Well, in general people's
  费雪说 普通人的预期
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  expectations might be wrong," but let's start off
  往往是不准确的
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  with the case-- people anticipate something,
  而在这里 我们假设
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  surely they're looking ahead to the future when deciding whether
  人们因为对未来收益的预期
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  to buy the stock.
  才去买股票的
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  We've got to assume something about what they think.
  我们假设了人们的思考