问题如下:
The unbiased expectations theory assumes investors are:
选项:
A.risk averse.
risk neutral.
risk seeking.
解释:
B is correct. The unbiased expectations theory asserts that different maturity strategies, such as rollover, maturity matching, and riding the yield curve, have the same expected return. By definition, a risk-neutral party is indifferent about choices with equal expected payoffs, even if one choice is riskier. Thus, the predictions of the theory are consistent with the existence of risk-neutral investors.
关于该知识点,讲义里说same expected return over a given investment horizon,题目解释里说different maturity strategies。请问,应该理解为投资期一致、return相同,还是投资期不一致、return相同?