Фондовый рынок и распределение материального богатства
The present article is devoted to consideration of investment strategy in stock market. The questions connected with designing of such strategy are systemically considered in it. The emphasis is thus placed on adaptation of the general (managerial) theory of engineering to engineering of investment strategy. Engineering of investment strategy is considered in indissoluble interrelation with the analysis of their typology. The most actual types and directions of engineering of investment strategy are characterized in the conclusion of article.
Among key problems of strategic development of the Russian Federation – a gain of the advanced positions in a global competition, an exit on standards of a life of the developed countries. Methods of achievement of the proclaimed priorities among which predominate an emphasis on realisation of innovations and optimisation of use of regional and human potentials are defined also. It means also working out of essentially new domestic industrial policy which main objective – stimulation of transition of a national economy on the way of development allowing a science and hi-tech sectors of the industry to become by the locomotive of economic growth, to provide adequate conditions for development for industrial sector of economy. Many questions concerning a theme of research carried out in the given collection, successfully dare in the European countries. Therefore studying a positive European experience important for decrease in vulnerability of domestic economy in the face of many global problems. These problems demand today adequate reactions at level of an industrial policy, start of new industrial strategy. In this work it is a lot of the specific proposals directed on the further development of the Russian industry. Authors have formulated both new tactical and strategic ideas, not ordinary decisions for achievement of leadership in the field in the future.
We consider multistage bidding models where two types of risky assets (shares) are traded between two agents that have different information on the liquidation prices of traded assets. These prices are random integer variables that are determined by the initial chance move according to a probability distribution p over the two-dimensional integer lattice that is known to both players. Player 1 is informed on the prices of both types of shares, but Player 2 is not. The bids may take any integer value.
The model of n-stage bidding is reduced to a zero-sum repeated game with lack of information on one side. We show that, if liquidation prices of shares have finite variances, then the sequence of values of n-step games is bounded. This makes it reasonable to consider the bidding of unlimited duration that is reduced to the infinite game G1(p). We offer the solutions for these games.
We begin with constructing solutions for these games with distributions p having two and three-point supports. Next, we build the optimal strategies of Player 1 for bidding games G1(p) with arbitrary distributions p as convex combinations of his optimal strategies for such games with distributions having two- and three-point supports. To do this we construct the symmetric representation of probability distributions with fixed integer expectation vectors as a convex combination of distributions with not more than three-point supports and with the same expectation vectors.