, , . . , .
(probability) . . , , . . , . (expected value) .
() = ,, + ,, +... + % = , (12.1)
v / 1 1 2 2 n n i i ' v/
,
, Z n (= l.
. , , , , , .
, , , .
(risk neutrality) , .
(risk preference) , . . , .
57. : , , , , .
(. diversificatio , ; . diversus facere ) , , , . .
, .
́ , .
́ ( ) ( . futures) , - , ( ) . (, , , . .) . .
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́ (. optio , , ) , (, ) , , . .
( . hedge , ) , . .
. . . XX ( ) . , .
(, , ) .