来自《耶鲁大学开放课程：金融理论第4集第4集》

It's going to be better for both people.

这对双方都是较好的
How do you know that?

如何知道呢
How do you know that?

如何知道呢
Because A had the choice of just buying his initial

因为A可以选择买初始投资
Because A had the choice of just buying his initial

因为A可以选择买初始投资
endowment--that's always affordable and he chose not to

这是可以承受的而他不选择
endowment--that's always affordable and he chose not to

这是可以承受的而他不选择
do it.

那样做
do it.

那样做
He chose to do something else and he was better off and the

他选择了其他而获得更好的收益
He chose to do something else and he was better off and the

他选择了其他而获得更好的收益
same with B, so clearly the equilibrium

B也是一样所以明显地