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请比较CAPM与消费型CAPM,为什么原则上消费型CAPM更让人满意?有没有使得两个模型都一样的情形,请举例.在t=0时,消费是?

题目详情
请比较CAPM与消费型CAPM,为什么原则上消费型CAPM更让人满意?
有没有使得两个模型都一样的情形,请举例.在t=0时,消费是?

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答案和解析
The two models are equivalent in a one-period exchange economy since then aggregate
consumption and wealth is the same.More generally,the prescriptions of the two models would
be very similar in situations where consumption would be expected to be closely correlated with
variations in the value of the market portfolio.