经管营销第三章简单凯恩斯模型.pptVIP

Animal Spirits Keynes believed investment was driven by “animal spirits” or the “expectations” businesses had regarding potential sales and profits. If businesses believed the economy was about to go bad, it could become a self-fulfilling prophecy 预言because they would cut back on investment and production and help trigger对做出反应 a recessionary spiral. * 资本边际效率与投资决定 资本边际效率（投资边际效率）Marginal Efficiency of Investment(MEI)：将投资在未来各年的预期边际报酬转换折算成目前投资的预期报酬率。 假设有一项固定资本，价格为P,耐用年限为n年，在n年之后剩余价值为0，n年中的预期分别为R1 、R2 、Rn，则下列等式中的rm即为投资边际效率。 * 投资的边际效率就是一种贴现率，用来贴现固定资本的预期收益，使其现值之和等于该固定资本价格。因此投资边际效率也可以说是所投的固