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NO.PZ2018062007000071 问题如下 For a risk-averse investor, the priof a risky asset, assuming no aitioncosts anbenefits of holng the asset, is: A.unrelateto the risk-free rate. rectly relateto its level of risk. inversely relateto its level of risk. C is correct. asset’s current price, S0, is terminescounting the expectefuture priof the asset r (the risk free rate) plus λ (the risk premium) over the periofrom 0 to T, illustratein the following equation:S0=E(ST)(1+r  +  λ)TS_0=\frac{E\left(S_T\right)}{\left(1+r\;+\;\lamb\right)^T}S0​=(1+r+λ)TE(ST​)​ Thus, asset’s current priinversely relates to its level of risk via the relaterisk premium, λ.A is incorrebecause asset’s current priin spot markets is calculateusing the risk- free rate plus a risk premium. B is incorrebecause asset’s current priin spot markets is inversely relate not rectly relate to its level of risk.中文解析对风险资产定价的公式如下图，可知风险资产的价格与利率呈反向关系，选 这个公式在基本讲义哪里啊？

NO.PZ2018062007000071问题如下For a risk-averse investor, the priof a risky asset, assuming no aitioncosts anbenefits of holng the asset, is: A.unrelateto the risk-free rate.rectly relateto its level of risk.inversely relateto its level of risk. C is correct. asset’s current price, S0, is terminescounting the expectefuture priof the asset r (the risk free rate) plus λ (the risk premium) over the periofrom 0 to T, illustratein the following equation:S0=E(ST)(1+r  +  λ)TS_0=\frac{E\left(S_T\right)}{\left(1+r\;+\;\lamb\right)^T}S0​=(1+r+λ)TE(ST​)​ Thus, asset’s current priinversely relates to its level of risk via the relaterisk premium, λ.A is incorrebecause asset’s current priin spot markets is calculateusing the risk- free rate plus a risk premium. B is incorrebecause asset’s current priin spot markets is inversely relate not rectly relate to its level of risk.中文解析对风险资产定价的公式如下图，可知风险资产的价格与利率呈反向关系，选C rectly是直接相关，不是正相关啊

NO.PZ2018062007000071 问题如下 For a risk-averse investor, the priof a risky asset, assuming no aitioncosts anbenefits of holng the asset, is: A.unrelateto the risk-free rate. rectly relateto its level of risk. inversely relateto its level of risk. C is correct. asset’s current price, S0, is terminescounting the expectefuture priof the asset r (the risk free rate) plus λ (the risk premium) over the periofrom 0 to T, illustratein the following equation:S0=E(ST)(1+r  +  λ)TS_0=\frac{E\left(S_T\right)}{\left(1+r\;+\;\lamb\right)^T}S0​=(1+r+λ)TE(ST​)​ Thus, asset’s current priinversely relates to its level of risk via the relaterisk premium, λ.A is incorrebecause asset’s current priin spot markets is calculateusing the risk- free rate plus a risk premium. B is incorrebecause asset’s current priin spot markets is inversely relate not rectly relate to its level of risk.中文解析对风险资产定价的公式如下图，可知风险资产的价格与利率呈反向关系，选 如果是风险偏好者，也是和level呈负相关吗？

NO.PZ2018062007000071 rectly relateto its level of risk. inversely relateto its level of risk. C is correct. asset’s current price, S0, is terminescounting the expectefuture priof the asset r (the risk free rate) plus λ (the risk premium) over the periofrom 0 to T, illustratein the following equation: S0=E(ST)(1+r  +  λ)TS_0=\frac{E\left(S_T\right)}{\left(1+r\;+\;\lamb\right)^T}S0​=(1+r+λ)TE(ST​)​ Thus, asset’s current priinversely relates to its level of risk via the relaterisk premium, λ. A is incorrebecause asset’s current priin spot markets is calculateusing the risk- free rate plus a risk premium. B is incorrebecause asset’s current priin spot markets is inversely relate not rectly relate to its level of risk. ​这道题的结论和之前讲的 风险越高收益越大 都能明白，但这两个结论为什么得出相反的结论？