arbitragers

The model not only embodies irrational characteristics of positive feedback traders, but also reflects the stage feature of arbitragers' hybrid-rational.

该模型既反映了套利者混合理性的阶段性属性，也显示了正反馈交易者的完全非理性特征。

Many shareholders would have accepted that, particularly the arbitragers who bought Yahoo on Friday, pushing its price up by 7 per cent to$ 28.67 in anticipation of a deal.

很多股东可能都会接受这个报价，特别是在上周五买进雅虎股票的投机者因预计交易会达成，他们推动雅虎股价上涨了7%，至28.67美元。

Market traders include hedgers, arbitragers and speculators. The approaches proposed in this paper are mainly for hedger and arbitrager, with little contribution to speculators.

其中，交易者可具体划分为套期保值者、套利者和投机者，而本文的交易策略主要针对套期保值者和套利者，对投机者指导意义不大。

At present the risk theory of the future market takes a dominant position in the theories on the future market. The theory believes that the arbitragers transfer the risk, the speculators bear the risk and all the activities on the future market center around the risk.

目前在期货市场理论中占主导地位的是期货市场风险论，期货市场风险论认为套期保值者转移风险，投机者承当风险，期货市场的一切活动围绕着风险进行。

Results show that the existence of risk for rational arbitragers and the investors'psychology overconfidence could limit the rational arbitrageur's behavior.

模型的分析结果表明，投资者的过度自信会限制套利者的套利行为。