CRRA

Comparative Analysis of CRRA , LA and DA Utility Models & Evolution and Development of Asset Allocation Theory

CRRA、LA和DA三种效用模型的比较分析&资产配置理论的进化和发展

Crown and root rot of Alfalfa ( CRRA ) is a chronic disease throughout the world .

苜蓿根和根颈腐烂病是一种危害严重的病害，在全世界所有苜蓿栽培地区一般都有发生。

Assuming the Logarithm and CRRA utility and using stochastic control methods , we obtain a closed ‐ form solution to the optimal investment strategy .

假设投资者的效用函数为对数效用函数和CRRA效用函数，利用随机控制方法得到了最优投资策略的解析解。

At last , we solve out an concrete example with CRRA utility function finding out the opti-mal investment strategy and find the economic meaning behind the symbols which greatly enhance the application of our model .

最后我们具体计算了分段CRRA效用函数下的优化模型，得出最优未定权益求解出最优投资策略并对符号背后的经济含义给出解释，极大的增强了模型的现实意义。