The main decision - making of investor is how to allocate his capital and maximize the investment utility . this thesis makes the research on the capital budgeting process of the privately offered fund investor 私募基金投资人主要的投资决策问题，就是如何根据所观测到的基金管理人的信息做出资金配置的决策，使得投资效用最大化。
On the other hand , this paper tried to study the risk budgeting on the application of portfolio through introduction of risk budgeting and bring in the multifactor model of security return to risk budgeting process to set up the risk budgeting system which 另一方面,本文试图通过对风险预算的介绍,考察风险预算技术在投资组合中的应用,将证券收益的多因素模型引入风险预算过程,建立基于多因素模型的风险预算系统体系。
The fast - changing competitive landscape and responses from competitors become major uncertain issues when companies are trying to make investment decisions . accordingly , modeling those key factors into capital budgeting process is very necessary . in monopoly or oligopoly industries , the relationship among major competitors can be well understood by means of game theory 这时在资本预算中引入对关键因素的判断十分重要；在垄断性行业中，竞争者间更多的体现为博弈关系，项目投资面临的信息环境不仅受竞争者决策的影响，还受到公司本身的影响，这时，为了解决这种信息不确定性，引入博弈模型是一种很好的选择。
Then the system could adopt man - machine intercourse method to carry out model self - learning , correct the budgeting quotiety to piles up experience for the model and increase its optimized degree gradually . all this makes our budgeting process rational , and this improves our enterprise ' s competition ability 然后采用人机交互的办法进行模型自我学习，对模型的预算系数进行修正，使预算模型积累经验，逐渐提高自身优度，使得预算过程更趋合理化，增强企业的竞争力。
