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T¤ ? TV ü?W NBY WWW NBY H, N 5 4 ', N ^ WW NBY H¥?t i#??? ?è ?b Sm S Sm S K v K v v ρ ρ ρ ρ + = + = max max )1( max ?= v v K Sm ρ ü fZ? T ò??t i5 4 ?v H5 4 ?, N , N 5 4 ?5 4  ?Q? ? r?Kv′'WW NBY ? ,)Q??? f ?/oμ9 v?t i?μ V ?4úQ? ?b L=?¨ Há ì?¨ ± 3t i$ Y }9 ? i$ & bY V k¤?t?3 ???t i-W¥1" T ?] ü fZ? T ?/ T?, T 1?è ?'? H¥?t¥ i#??? ?è ?b SS S K vv ρ ρ + = max )1( max ?= v v K Sm ρ S m K v v ρ max = ó??t i5 4 ?l H5 4 ?, N , N 5 4 , N  ?Q? ? ??t i??1 è1"' ?B)Q?bN H9F?t i V[4ú ?Q?¥ ?b? ?"?t i¥ 9F ?Q? ????1 è1"  6??)Q?b 24 ü fè ?¥il ü fè ?, N ^ ?Q?)?? ? ü?'× ? H¥ ü?è ?b μ×1t ?il , N ′ ^ ?¥+?è ?-BoD ?¥?éμ17D ?¥ i í1b?]¥ ?, N ′?] ?V ? Ub ?TB? ?μ+??t5 ?B??tòμB?+?¥ , N bi O, N ′? sQ)#?¥?YbyN, N ′T1è ?o ^B?¥?taQ)#?Hq7yb?? ?¥, N ′ V[T1kY ?¥B? m ?A?·?¥ LHq/é ?b ]B? ?μ+??tüμ+?, N ′b , N ′Kl¥?tB ??1? ?¥K a?t? ??tb ?? ^? ?¥? ?? tb , N V[í ?1Q? ??t T? ?¥vl, N ?vV ü T? ?vK a?tD ?¥ T? ?Kv?3?ú¥?t iü V?^1r?W NBY b 25 ü fè ?¥?? ?B? ?\Q?¥, N ′¥ ??ZE?b L?' P¨ ?ú¥?t i9o ?¤?í ?¥W NBY ′7r????¥ W NBY ′y79??? ?¥, N ′1 ¤? ?¥, N ′ V[ ü ü fZ?¥? TF[?M P ??1°LZ? T¥? T ? a¨m3E?, N ′b " -B?¨¥m3 p, N ′E1 §±?? XTmE? ?? ?TmEbNE5| ü fZ??? ?/¥? T' L Hê4?]¥5 4 ???¥Wb p ?¥? ?T m' V¤ ?m?¥°Lb  |°L USà ¥? W NBY ?, N ü V[ p, N ¥′#W NBY ′b maxmax 111 vv K v S m +?= ρ ü fè ?¥?? 26 ??? v+ MonodZ? T ± 3t9é ??± 3t' &¥ ia?t i-W¥1" ^l £ 3t) ??¥B?×1 [5bμ?  TQ??B1"b ? - a¥ ^ v+Z? T T? 5 4 K?± 3t9é¥?t iNH- 0± 3t19é ?'?ê 3t ¥9é ?b 5 9 ± 3t iNH- 0 NBY 0¥Kv′?t i?v??Y± 3t¥9é ?  H¥0′ , 4 ?è ?b max s s s k ρ μμ ρ = + / X X ddtρ μ ρ = 27 max s s s k ρ μμ ρ = + B M 3?Q??± 3t¥9é ^?t?3¥2T4N -Wi"B?? 1"bC ?[E5 4  ±Q? H EU =¥?t h{ ?E5 9  EU =¥± 3t9é -W¥1 è1"′ YV/ TV U- T?: á q" ? 5 9 ± 3t ib ± 3t9é ? ± 3t19é ? X X d dt ρ υ = S S d dt ρ υ = X X υ μ ρ = S X q υ ρ = X s d Y d ρ ρ = / / Xt X s ts dd Y dd ρ υ ρ υ == / / XX sX Y q υ ρ μ υρ = =  ?t?3 ? ?t1?3 ? 28 [# } ? 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HWM???B?è ?b' T?5 9 &· Q? ?± 3t¥ ü ( i 5 4 &· Q? ??t¥ ü ( ib w?l £ 3t) ?y? ?D  T¥+?L? ? 0 X d dl ρ = 0 S d dl ρ = óQ? ?¥té?? ??# (?¥ f ? I n ??Q? ? ¥± 3t i??t i? ?ê?M???B?è ?b7 O ?t ^ ·3?¥b' ???Q?V??¥? ^ s¥  ?z) ?b  M? X ?á )FVLFMFLJBO ? |YVl £ 3t) ?¥v  Lù?yT ?Cl £ 3t) ??± 3t9é??t ?3-Wi"B? ¥1" ? ^4  ?/¥Z? T () () SX g udX dd YK dt dt ρρ ρ= ?? () X g d dt ρ () S u d dt ρ ± 3t9éD?t?3¥'1" T T? ± 3tê9é ? ?t ?¨ ?3 ? :á q" ? , E  =÷?   ?h" ? 5 9 Q? ?± 3t ib 31  L=y??á q" ? ?± 3t9é" ? Yè[ L=? ¤¥4?á q" ? ?± 3tê9é" ? Y obs }9b1N T V  T¤ T?0£1± 3t1ê9é ?b  í TVr  3tQ?) ?  =± 3t¥ê9é??t ?3-W¥'1"b ?[??1" Tg V?l £± 3t) ?y ?' ?D  Ty ?l £± 3t) ?y? ?D  T? μ? ×1¥ilb V?1() () SX g udX dd YK dt dt ρρ ρ=?? obs Yqμ′= ? (/) (/) Xg Su d XX ddt ddt YK ρ ρ ρρ = ? d Yq Kμ′= ??  () () SX g obs u dd Y dt dt ρρ = ] ?V T ¤ Q?? ?DZ? T¥??¨  £?t iDê C -435 ,D ¥1" (1+r)Q X, Se Q - Qw Xe, Se Q S 0 X 0 =0 rQ, Xr, Se V X, Se =?y Qw, Xr, Se t ? ?S? Qw, X, Se ? ?? ?? @"dt ? ?m 32 Q?? ?DZ? 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