There was a chess player when I was young named Mikhail Tal who

在我年轻的时候有一个象棋手
was a world champion for a little while,

他曾是世界冠军
and he said that every two or three years he'd go back and

他说每隔两三年
read his original introductory textbooks on chess.

他都会回头看象棋的入门书籍
So we're going back to the first principles.

所以让我们也回到基本原理
How would you define equilibrium here for a financial equilibrium?

我们如何定义金融平衡中的平衡
Well, the first thing is just common sense.

首先是常识
What are people doing?

人们在干什么
At time 1 what can they do?

在时间1上他们能做什么
They can spend money, so I'm going to look at the

他们要进行投资
budget set for Agent i, and i can be A or B so I don't

我们要讨论人i 的预算集
have to write it twice.

i 代表A和B