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(σ) = ,
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σ = [ P1 (1 - ())2 + 2 (2 - ())2 +.... + n (n - ())2]
(10.2)
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σ= 1,0 (10% -10%)2 = 1,0 (0,0) =
Genco
σ = [(0,2)(30% -10%)2 + (0,6)(10% -10%)2 + (0,2)(-10% -10%)2]
σ = 12,65%
Risco
σ = [(0,2)(50%-10%)2+(0,6)(10%-10%)2+(0,2)(-30% - 10%)2!
σ =25,30%
Risco , Genco, Genco.
, , . , . , , . 10.3.
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, , . (, <, , .) .
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(risk aversion), 329
(risk management), 329
(risk exposure), 330
(speculators), 331
(hedgers), 331
(precautionary saving), 331
(risk-management process), 334
(actuary), 336
(hedging), 338
(insuring), 338
(diversifying), 338
(moral hazard),
(adverse selection), 344
( ) (life annuity), 344
(portfolio theory), 345
(probability distribution), 346
(mean), 346
, (standard deviation),346
(volatility), 347
(expected rate of return),347
(continuous probability distribution), 350
(normal distribution), 350
(confidence interval), 350
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