来自《耶鲁大学开放课程：金融理论 第13集 第13集》

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  which are p_1, p_2, p_3, etc., okay?
  是p_1 p_2 p_3等等
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  And because it's symmetric, we know that this is going to equal 1-- p--
  因为它是对称的 这等于1 - P
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  we can always make one of them be--
  我们可以始终使其中之一是
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  one price can be 1,
  一个价格可以是1
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  so the present value prices are going to look like this.
  所以现价的价格看起来像这样
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  The reason I can make this simplification is by symmetry.
  我之所以可以作这种简化是因为对称性
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  Every generation is the same,
  每一代人是一样的
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  so it's obvious that I'll be able to keep repeating the same argument over and over again.
  所以我可以一遍又一遍地重复同样的论点
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  Okay, and so what do I have--so remember, the land has disappeared here.
  所以我有什么 - 记住 土地消失了
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  Even though this generation is buying the land and selling the land,
  即使这一代既购买土地又出售土地
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  in Fisher's story, you don't have to pay attention to that.
  在Fisher的故事 你不必注意这些
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  This guy bought the land, and then he sold the land,
  这家伙买土地 然后 他卖了土地