A Discussion On Criterion For Asset Valuation And Simulation

In this paper,the evolution and development of asset valuation theories introduced firstly.Then some basic knowledge about asset valuation theory is introduced. Then we consider the criterion of BuhlmannfN.AM. Actural J. (1997)100] for asset valuation and its modified criterion is described. The modified criterion compared with the old one is more rational. The average sojourn time withion Buhlamnn's band is discussed at last.The text is organized as follows:Introduction introduces the evolution and development of asset valuation. In addition, some achievements on the theory domestic and adoard are presented.Chapter 1 presents some basic knowledge about asset valuation theory such as martingale about stochastic process, definition of Markov chains definition of ergodic, Jensen inequality, Marcinkiewicz strong law of large numbers the law of the iterated logarithm.Chapter 2 contains the criterion for asset valuation and conclusions in it's original paper. Then the work of generalization and extension about the criterion for asset valuation is mentioned. In additon, the limiting behavior of the thend of the valuation compared with real development is studied for i.i.d. growth rates and simulation. The limiting behavior of the thend of the valuation compared with real development is studied for homogeneous Markov dependent growth rates. We will have a similar result as above in i.i.d. growth rate case.Chapter3 contains the comparation of two criterions for asset valuation and simula-tion,then the average sojourn time withion Buhlamnn's band is discussed .