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name=\"1\"><\/a><\/p>\n<h2>\u306f\u3058\u3081\u306b<\/h2>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u91d1\u878d\u5e02\u5834\u7406\u8ad6\u304a\u3088\u3073\u305d\u308c\u3092\u8a18\u8ff0\u3059\u308b\u6570\u5b66\u30e2\u30c7\u30eb\u306e\u57fa\u672c\u7684\u306a\u67f1\u306e\u4e00\u3064\u3067\u3059\u3002\u3053\u306e\u539f\u5247\u306f\u3001<strong>\u5341\u5206\u306b\u52b9\u7387\u7684\u306a\u5e02\u5834\u306b\u304a\u3044\u3066\u306f\u3001\u30ea\u30b9\u30af\u3092\u53d6\u3089\u305a\u521d\u671f\u6295\u8cc7\u3082\u305b\u305a\u306b\u78ba\u5b9f\u306b\u5229\u76ca\u3092\u5f97\u3089\u308c\u308b\u6a5f\u4f1a\u306f\u5b58\u5728\u3057\u306a\u3044\u304b\u3001\u5b58\u5728\u3057\u3066\u3082\u6975\u3081\u3066\u4e00\u6642\u7684\u3067\u3042\u308b\u3079\u304d\u3067\u3042\u308b<\/strong>\u3068\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002\u8a00\u3044\u63db\u3048\u308c\u3070\u3001\u30b3\u30b9\u30c8\u306a\u3057\u3067\u5373\u6642\u306e\u5229\u76ca\u3092\u5f97\u3089\u308c\u308b\u3088\u3046\u306a\u4fa1\u683c\u306e\u4e0d\u4e00\u81f4\u306f\u3001\u5e02\u5834\u306e\u529b\u306b\u3088\u3063\u3066\u3059\u3050\u306b\u662f\u6b63\u3055\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u5b9f\u969b\u306e\u5e02\u5834\u3067\u306f\u3001\u6469\u64e6\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u4e0d\u5b8c\u5168\u306a\u60c5\u5831\u306a\u3069\u306b\u3088\u308a\u3001\u4e00\u6642\u7684\u306b\u3053\u306e\u3088\u3046\u306a\u6a5f\u4f1a\u304c\u751f\u3058\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u5e02\u5834\u53c2\u52a0\u8005\u304c\u305d\u308c\u3092\u8a8d\u8b58\u3057\u884c\u52d5\u3059\u308b\u3068\u3001\u901a\u5e38\u306f\u6d88\u3048\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<p><em><\/p>\n<p><strong>\u5e02\u5834\u306e\u529b\u3068\u306f\u4f55\u304b\uff1f<\/strong><\/p>\n<p>\u5e02\u5834\u306e\u529b\u3068\u306f\u3001\u9700\u8981\u3068\u4f9b\u7d66\u306e\u52d5\u614b\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u8981\u56e0\u3001\u307e\u305f\u306f\u305d\u306e\u96c6\u5408\u3067\u3059\u3002\u3053\u308c\u3089\u306e\u529b\u306f\u3001\u8ca1\u3084\u30b5\u30fc\u30d3\u30b9\u306e\u4fa1\u683c\u3001\u53d6\u5f15\u91cf\u3001\u305d\u3057\u3066\u7d4c\u6e08\u4e3b\u4f53\uff08\u6d88\u8cbb\u8005\u3001\u4f01\u696d\u3001\u653f\u5e9c\u306a\u3069\uff09\u306e\u884c\u52d5\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002\u5e02\u5834\u7d4c\u6e08\u306e\u6587\u8108\u306b\u304a\u3044\u3066\u3001\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u306e\u81ea\u7531\u306a\u76f8\u4e92\u4f5c\u7528\u306b\u3088\u3063\u3066\u4ea4\u63db\u6761\u4ef6\u304c\u78ba\u7acb\u3055\u308c\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u4e3b\u8981\u306a\u5e02\u5834\u306e\u529b\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\uff1a<\/p>\n<ul>\n<li><strong>\u4f9b\u7d66\uff1a<\/strong>\u3042\u308b\u671f\u9593\u306b\u304a\u3044\u3066\u3001\u7570\u306a\u308b\u4fa1\u683c\u3067\u751f\u7523\u8005\u304c\u8ca9\u58f2\u3059\u308b\u610f\u601d\u306e\u3042\u308b\u8ca1\u3084\u30b5\u30fc\u30d3\u30b9\u306e\u91cf\u3092\u8868\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u9700\u8981\uff1a<\/strong>\u3042\u308b\u671f\u9593\u306b\u304a\u3044\u3066\u3001\u7570\u306a\u308b\u4fa1\u683c\u3067\u6d88\u8cbb\u8005\u304c\u8cfc\u5165\u3057\u305f\u3044\u3068\u8003\u3048\u308b\u8ca1\u3084\u30b5\u30fc\u30d3\u30b9\u306e\u91cf\u3092\u8868\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u7af6\u4e89\uff1a<\/strong>\u985e\u4f3c\u306e\u5546\u54c1\u3084\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u4f01\u696d\u9593\u306e\u7af6\u4e89\u306e\u7a0b\u5ea6\u3067\u3059\u3002\u7af6\u4e89\u304c\u6fc0\u3057\u304f\u306a\u308b\u3068\u3001\u901a\u5e38\u4fa1\u683c\u304c\u4e0b\u304c\u308a\u54c1\u8cea\u304c\u5411\u4e0a\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u671f\u5f85\uff1a<\/strong>\u5c06\u6765\u306e\u4fa1\u683c\u3001\u88fd\u54c1\u306e\u5165\u624b\u53ef\u80fd\u6027\u3001\u307e\u305f\u306f\u7d4c\u6e08\u306e\u5909\u5316\u306b\u95a2\u3059\u308b\u4e88\u60f3\u306f\u3001\u9700\u8981\u3068\u4f9b\u7d66\u306e\u610f\u601d\u6c7a\u5b9a\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002<\/li>\n<li><strong>\u5916\u90e8\u8981\u56e0\uff1a<\/strong>\u898f\u5236\u306e\u5909\u66f4\u3001\u6280\u8853\u9769\u65b0\u3001\u793e\u4f1a\u7684\u30c8\u30ec\u30f3\u30c9\u3001\u81ea\u7136\u707d\u5bb3\u3084\u7d4c\u6e08\u5371\u6a5f\u306a\u3069\u306e\u51fa\u6765\u4e8b\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<p><\/em><\/p>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u3068\u3044\u3046\u6982\u5ff5\u306f\u3001\u5e02\u5834\u304c\u4e00\u8cab\u6027\u3068\u5b89\u5b9a\u6027\u3092\u4fdd\u3064\u3053\u3068\u3092\u4fdd\u8a3c\u3057\u307e\u3059\u3002\u306a\u305c\u306a\u3089\u3001\u88c1\u5b9a\u306e\u6a5f\u4f1a\u304c\u5b58\u5728\u3059\u308b\u3068\u3001\u4fa1\u683c\u306b\u6b6a\u307f\u304c\u751f\u3058\u3001\u6301\u7d9a\u4e0d\u53ef\u80fd\u306a\u6295\u6a5f\u7684\u884c\u52d5\u3092\u52a9\u9577\u3057\u3066\u3057\u307e\u3046\u304b\u3089\u3067\u3059\u3002\u3053\u306e\u539f\u5247\u306f\u3001\u91d1\u878d\u30e2\u30c7\u30eb\u306e\u7406\u8ad6\u7684\u306a\u57fa\u76e4\u3067\u3042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name=\"2\"><\/a><\/p>\n<h2>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306e\u57fa\u790e<\/h2>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u52b9\u7387\u7684\u306a\u5e02\u5834\u306b\u304a\u3044\u3066\u306f\u3001\u30ea\u30b9\u30af\u306a\u3057\u3067\u5229\u76ca\u3092\u5f97\u3089\u308c\u308b\u3088\u3046\u306a\u8cc7\u7523\u4fa1\u683c\u306e\u4e0d\u5747\u8861\u304c\u8fc5\u901f\u306b\u4fee\u6b63\u3055\u308c\u308b\u3068\u3044\u3046\u8003\u3048\u306b\u57fa\u3065\u3044\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u6982\u5ff5\u306f\u3001\u7406\u8ad6\u7684\u306b\u3082\u5b9f\u52d9\u7684\u306b\u3082\u6975\u3081\u3066\u91cd\u8981\u3067\u3042\u308a\u3001\u73fe\u4ee3\u306e\u91d1\u878d\u5e02\u5834\u306e\u4ed5\u7d44\u307f\u306b\u6df1\u304f\u6839\u3056\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<h3>\u5f62\u5f0f\u7684\u5b9a\u7fa9<\/h3>\n<p>\u6570\u5b66\u7684\u30a2\u30d7\u30ed\u30fc\u30c1\u304b\u3089\u898b\u308b\u3068\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u4ee5\u4e0b\u306e\u6761\u4ef6\u306b\u3088\u3063\u3066\u5f62\u5f0f\u7684\u306b\u8868\u73fe\u3055\u308c\u307e\u3059\u3002\u3053\u308c\u3089\u306f\u3001\u5b8c\u5168\u306a\u60c5\u5831\u3068\u53d6\u5f15\u30b3\u30b9\u30c8\u306e\u306a\u3044\u7406\u60f3\u7684\u306a\u5e02\u5834\u3092\u524d\u63d0\u3068\u3057\u3066\u3044\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u521d\u671f\u4fa1\u5024\u304c <span class=\"katex-eq\" data-katex-display=\"false\">V(0) = 0<\/span> \u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u3001\u5c06\u6765\u7684\u306b\u78ba\u5b9f\u306b\u6b63\u306e\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u306f\u3067\u304d\u306a\u3044\u3002\u3053\u308c\u306f\u3001\u30ea\u30b9\u30af\u306a\u3057\u306b\u5229\u76ca\u3092\u4fdd\u8a3c\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u306a\u3044\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u5f62\u5f0f\u7684\u306b\u306f\u6b21\u306e\u901a\u308a\u3067\u3059\uff1a<\/li>\n<p style=\"text-align:center;\">\n       <span class=\"katex-eq\" data-katex-display=\"false\">\\forall V \\left[\\left(V(0) = 0\\right) \\rightarrow \\left(\\nexists t &gt; 0\\right) \\left(P(V(t) &gt; 0) = 1\\right)\\right]<\/span>\n    <\/p>\n<li>\u3082\u3057\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u304c\u521d\u671f\u4fa1\u5024\u30bc\u30ed\u3067\u3001\u5c06\u6765\u7684\u306b\u78ba\u5b9f\u306b\u6b63\u306e\u4fa1\u5024\u3092\u751f\u307f\u51fa\u3059\u5834\u5408\uff08<span class=\"katex-eq\" data-katex-display=\"false\">V(1) &gt; 0<\/span>\uff09\u3001\u305d\u308c\u306f\u88c1\u5b9a\u306e\u6a5f\u4f1a\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u5341\u5206\u306b\u52b9\u7387\u7684\u306a\u5e02\u5834\u3067\u306f\u3001\u3053\u306e\u3088\u3046\u306a\u6a5f\u4f1a\u306f\u9700\u8981\u3068\u4f9b\u7d66\u306e\u8abf\u6574\u306b\u3088\u3063\u3066\u3059\u3050\u306b\u662f\u6b63\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u5b9f\u969b\u306e\u5e02\u5834\u3067\u306f\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u4e0d\u5b8c\u5168\u306a\u60c5\u5831\u3001\u6469\u64e6\u306a\u3069\u304c\u5b58\u5728\u3057\u307e\u3059\u304c\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u4fa1\u683c\u3092\u5206\u6790\u3057\u3001\u6574\u5408\u7684\u306a\u91d1\u878d\u30e2\u30c7\u30eb\u3092\u8a2d\u8a08\u3059\u308b\u305f\u3081\u306e\u91cd\u8981\u306a\u6982\u5ff5\u7684\u6307\u91dd\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u7c21\u5358\u306b\u8a00\u3048\u3070\u3001\u3053\u306e\u539f\u5247\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u30ea\u30b9\u30af\u3082\u521d\u671f\u6295\u8cc7\u3082\u306a\u3057\u306b\u5229\u76ca\u3092\u4fdd\u8a3c\u3055\u308c\u308b\u3088\u3046\u306a\u72b6\u6cc1\u304c\u5b58\u5728\u3057\u306a\u3044\u3053\u3068\u3092\u4fdd\u8a3c\u3057\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u6a5f\u4f1a\u306e\u4e0d\u5b58\u5728\u306f\u3001\u91d1\u878d\u30e2\u30c7\u30eb\u306e\u4e00\u8cab\u6027\u306b\u3068\u3063\u3066\u672c\u8cea\u7684\u306a\u6761\u4ef6\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>\u5b9f\u8df5\u7684\u306a\u6b63\u5f53\u5316<\/h3>\n<p>\u5b9f\u969b\u306b\u306f\u3001\u88c1\u5b9a\u306e\u6a5f\u4f1a\u306f\u6975\u3081\u3066\u7a00\u3067\u3042\u308a\u3001\u767a\u751f\u3057\u3066\u3082\u77ed\u547d\u3067\u3042\u308b\u3053\u3068\u304c\u4e00\u822c\u7684\u3067\u3059\u3002\u3053\u308c\u306f\u3001\u5e02\u5834\u304c\u4fa1\u683c\u306e\u4e0d\u4e00\u81f4\u3092\u8fc5\u901f\u306b\u4fee\u6b63\u3059\u308b\u50be\u5411\u306b\u3042\u308b\u305f\u3081\u3067\u3042\u308a\u3001\u3053\u3046\u3057\u305f\u6a5f\u4f1a\u3092\u5229\u7528\u3059\u308b\u6295\u8cc7\u5bb6\uff08\u88c1\u5b9a\u53d6\u5f15\u8005\uff09\u306e\u884c\u52d5\u306b\u3088\u3063\u3066\u662f\u6b63\u304c\u9032\u3080\u306e\u3067\u3059\u3002<\/p>\n<p>\u305f\u3068\u3048\u3070\u3001\u3042\u308b\u8cc7\u7523\u306e\u4fa1\u683c\u304c\u4e00\u3064\u306e\u5e02\u5834\u3067\u4ed6\u3088\u308a\u3082\u5b89\u3044\u5834\u5408\u3001\u88c1\u5b9a\u53d6\u5f15\u8005\u306f\u5b89\u3044\u5e02\u5834\u3067\u8cb7\u3044\u3001\u9ad8\u3044\u5e02\u5834\u3067\u58f2\u308a\u307e\u3059\u3002\u3053\u306e\u6d3b\u52d5\u306f\u3001\u5b89\u3044\u5e02\u5834\u3067\u306e\u9700\u8981\u3092\u9ad8\u3081\u3001\u9ad8\u3044\u5e02\u5834\u3067\u306e\u4f9b\u7d66\u3092\u5897\u3084\u3057\u3001\u4fa1\u683c\u3092\u5747\u8861\u306b\u5c0e\u3044\u3066\u88c1\u5b9a\u6a5f\u4f1a\u3092\u6392\u9664\u3057\u307e\u3059\u3002<\/p>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306e\u6392\u9664\u306f\u3001\u4fa1\u683c\u304c\u8cc7\u7523\u9593\u306e\u5b9f\u8cea\u7684\u306a\u4fa1\u5024\u95a2\u4fc2\u3092\u53cd\u6620\u3059\u308b\u3053\u3068\u3092\u4fdd\u8a3c\u3057\u3001\u5e02\u5834\u306e\u52b9\u7387\u6027\u3092\u9ad8\u3081\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u3084\u5148\u7269\u5951\u7d04\u3068\u3044\u3063\u305f\u91d1\u878d\u5546\u54c1\u306e\u8a55\u4fa1\u3092\u5bb9\u6613\u306b\u3057\u307e\u3059\u3002<\/p>\n<h4>\u3082\u3057\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u304c\u6210\u308a\u7acb\u305f\u306a\u304b\u3063\u305f\u3089\uff1f<\/h4>\n<h5>\u521d\u671f\u306e\u5f71\u97ff<\/h5>\n<p>\u3082\u3057\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u304c\u4f53\u7cfb\u7684\u306b\u6210\u308a\u7acb\u305f\u306a\u3044\u5834\u5408\u3001\u3088\u308a\u591a\u304f\u306e\u8cc7\u91d1\u3092\u6301\u3064\u7d4c\u6e08\u4e3b\u4f53\u304c\u3001\u88c1\u5b9a\u5bfe\u8c61\u3068\u306a\u308b\u8cc7\u7523\u306b\u5927\u91cf\u306e\u6d41\u52d5\u6027\u3068\u30ec\u30d0\u30ec\u30c3\u30b8\u8cc7\u672c\u3092\u6295\u5165\u3057\u3001\u3053\u308c\u3089\u306e\u6a5f\u4f1a\u3092\u4f53\u7cfb\u7684\u306b\u6d3b\u7528\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u7279\u306b\u4f4e\u91d1\u5229\u74b0\u5883\u3084\u91d1\u878d\u898f\u5236\u304c\u7de9\u3044\u5834\u5408\u306b\u3001\u904e\u5ea6\u306a\u4fe1\u7528\u306e\u5229\u7528\u3092\u52a9\u9577\u3057\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u3001\u7279\u5b9a\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u9280\u884c\u30de\u30cd\u30fc\u306e\u5275\u51fa\u3068\u6d41\u52d5\u6027\u304c\u4e00\u6642\u7684\u306b\u5897\u52a0\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u73fe\u5b9f\u306b\u306f\u3001\u5e02\u5834\u53c2\u52a0\u8005\u3068\u898f\u5236\u5f53\u5c40\u306e\u9023\u643a\u3057\u305f\u884c\u52d5\u306b\u3088\u308a\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306f\u901a\u5e38\u4e00\u6642\u7684\u306a\u3082\u306e\u3068\u306a\u308a\u307e\u3059\u3002\u898f\u5236\u5f53\u5c40\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u4e0a\u9650\u8a2d\u5b9a\u3001\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5e02\u58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8\u306f2008\u5e74\u306e\u3088\u3046\u306a\u91d1\u878d\u5371\u6a5f\u3092\u5f15\u304d\u8d77\u3053\u3057\u3066\u304d\u307e\u3057\u305f\u304c\u3001\u73fe\u5728\u306e\u591a\u304f\u306e\u5e02\u5834\u306b\u306f\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u3084\u4fa1\u683c\u30d0\u30d6\u30eb\u3092\u6291\u5236\u3059\u308b\u898f\u5236\u304c\u6574\u5099\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u77f3\u6cb9\u3084\u4e3b\u8981\u98df\u6599\u54c1\u306e\u3088\u3046\u306a\u69cb\u9020\u7684\u306a\u786c\u76f4\u6027\u3092\u6301\u3064\u30bb\u30af\u30bf\u30fc\u3067\u306f\u3001\u4fa1\u683c\u306e\u5909\u52d5\u304c\u4ed6\u306e\u30bb\u30af\u30bf\u30fc\u306b\u6ce2\u53ca\u3057\u30011973\u5e74\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u5371\u6a5f\u306e\u3088\u3046\u306b\u30a4\u30f3\u30d5\u30ec\u3092\u60aa\u5316\u3055\u305b\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u4fe1\u7528\u5236\u9650\u3084\u91d1\u5229\u8abf\u6574\u3068\u3044\u3063\u305f\u898f\u5236\u63aa\u7f6e\u306f\u3053\u3046\u3057\u305f\u30ea\u30b9\u30af\u3092\u8efd\u6e1b\u3059\u308b\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u4eee\u60f3\u901a\u8ca8\u5e02\u5834\u306e\u3088\u3046\u306a\u65b0\u8208\u5e02\u5834\u3084\u898f\u5236\u306e\u7de9\u3044\u5e02\u5834\u3067\u306f\u3001\u8cc7\u6e90\u304c\u6295\u6a5f\u7684\u6d3b\u52d5\u306b\u504f\u308b\u3053\u3068\u304c\u4f9d\u7136\u3068\u3057\u3066\u61f8\u5ff5\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u7d50\u5c40\u306e\u3068\u3053\u308d\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u5e02\u5834\u306e\u5b89\u5b9a\u306b\u3068\u3063\u3066\u4e0d\u53ef\u6b20\u306a\u67f1\u3067\u3042\u308a\u3001\u73fe\u5728\u306e\u898f\u5236\u30e1\u30ab\u30cb\u30ba\u30e0\u306f\u3001\u3053\u306e\u539f\u5247\u306e\u4e00\u6642\u7684\u306a\u9038\u8131\u304c\u30b7\u30b9\u30c6\u30e0\u5168\u4f53\u306e\u5d29\u58ca\u306b\u3064\u306a\u304c\u3089\u306a\u3044\u3088\u3046\u306b\u3059\u308b\u4e0a\u3067\u52b9\u679c\u7684\u3067\u3042\u308b\u3053\u3068\u304c\u793a\u3055\u308c\u3066\u3044\u307e\u3059\u3002\n<\/p>\n<\/section>\n<h3>\u6570\u5b66\u7684\u542b\u610f<\/h3>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u91d1\u878d\u8cc7\u7523\u306e\u8a55\u4fa1\u30e2\u30c7\u30eb\u3092\u69cb\u7bc9\u3059\u308b\u4e0a\u3067\u306e\u91cd\u8981\u306a\u30c4\u30fc\u30eb\u3067\u3059\u3002\u4ee3\u8868\u7684\u306a\u5fdc\u7528\u306b\u306f\u4ee5\u4e0b\u304c\u542b\u307e\u308c\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u3088\u3046\u306a\u91d1\u878d\u6d3e\u751f\u5546\u54c1\u306e\u4fa1\u683c\u30e2\u30c7\u30eb\u3002\u3053\u308c\u3089\u306f\u7406\u8ad6\u4fa1\u683c\u3092\u8a08\u7b97\u3059\u308b\u305f\u3081\u306b\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306e\u4e0d\u5b58\u5728\u3092\u524d\u63d0\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<li>\u30ea\u30b9\u30af\u3092\u6700\u5c0f\u5316\u3057\u3001\u88c1\u5b9a\u6a5f\u4f1a\u304c\u5b58\u5728\u3057\u306a\u3044\u3053\u3068\u3092\u4fdd\u8a3c\u3059\u308b\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u305f\u30d8\u30c3\u30b8\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u69cb\u7bc9\u3002<\/li>\n<li>\u91d1\u5229\u5e73\u4fa1\u3084\u30aa\u30d7\u30b7\u30e7\u30f3\u5e73\u4fa1\u306e\u3088\u3046\u306a\u3001\u7570\u306a\u308b\u91d1\u878d\u5546\u54c1\u9593\u306e\u5e73\u4fa1\u95a2\u4fc2\u306e\u6c7a\u5b9a\u3002<\/li>\n<\/ul>\n<p>\u8981\u3059\u308b\u306b\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u30ea\u30b9\u30af\u7ba1\u7406\u3001\u8cc7\u7523\u8a55\u4fa1\u3001\u6295\u8cc7\u6226\u7565\u306e\u8a2d\u8a08\u306b\u304a\u3044\u3066\u4e0d\u53ef\u6b20\u306a\u3001\u6574\u5408\u6027\u3068\u7cbe\u5ea6\u3092\u5099\u3048\u305f\u30e2\u30c7\u30eb\u3092\u69cb\u7bc9\u3059\u308b\u305f\u3081\u306e\u5f37\u56fa\u306a\u57fa\u76e4\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><a name=\"3\"><\/a><\/p>\n<h2>\u88c1\u5b9a\u53d6\u5f15\u306e\u4f8b<\/h2>\n<p>\u5b9f\u969b\u306e\u4f8b\u3092\u901a\u3058\u3066\u3001\u88c1\u5b9a\u6a5f\u4f1a\u304c\u3069\u306e\u3088\u3046\u306b\u767a\u751f\u3057\u3001\u52b9\u7387\u7684\u306a\u5e02\u5834\u3067\u3069\u306e\u3088\u3046\u306b\u89e3\u6d88\u3055\u308c\u308b\u304b\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u4ee5\u4e0b\u306b2\u3064\u306e\u4ee3\u8868\u7684\u306a\u4e8b\u4f8b\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<h3>\u5373\u6642\u88c1\u5b9a\u53d6\u5f15<\/h3>\n<p>\u6b21\u306e\u3088\u3046\u306b\u4eee\u5b9a\u3057\u307e\u3059\u3002\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u3068\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u304c\u3001\u82f1\u30dd\u30f3\u30c9\uff08GBP\uff09\u3092\u7c73\u30c9\u30eb\uff08USD\uff09\u3067\u7570\u306a\u308b\u70ba\u66ff\u30ec\u30fc\u30c8\u3067\u63d0\u793a\u3057\u3066\u3044\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u306f\u3001<span class=\"katex-eq\" data-katex-display=\"false\">d_A = 1,62\\,\\text{USD\/GBP}<\/span> \u3067\u30dd\u30f3\u30c9\u3092\u8cb7\u3044\u307e\u3059\u3002<\/li>\n<li>\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u306f\u3001<span class=\"katex-eq\" data-katex-display=\"false\">d_B = 1,60\\,\\text{USD\/GBP}<\/span> \u3067\u30dd\u30f3\u30c9\u3092\u58f2\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u72b6\u6cc1\u306f\u3001\u521d\u671f\u6642\u70b9 <span class=\"katex-eq\" data-katex-display=\"false\">t = 0<\/span> \u306b\u304a\u3044\u3066\u6b21\u306e\u4fa1\u5024\u3092\u6301\u3064\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u3057\u3066\u8868\u305b\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">V(0) = 0<\/span>\n<p>\u4fa1\u683c\u306e\u4e0d\u4e00\u81f4\u3092\u5229\u7528\u3057\u3066\u3001\u6b21\u306e\u3088\u3046\u306a\u88c1\u5b9a\u30b5\u30a4\u30af\u30eb\u3092\u5b9a\u7fa9\u3057\u307e\u3059\uff1a<\/p>\n<ol>\n<li><span class=\"katex-eq\" data-katex-display=\"false\">1.600\\,\\text{USD}<\/span> \u3092\u501f\u308a\u3001\u305d\u308c\u3092\u4f7f\u3063\u3066 <span class=\"katex-eq\" data-katex-display=\"false\">1.000 \\, \\text{GBP}<\/span> \u3092\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u304b\u3089\u3001\u5f7c\u306e\u70ba\u66ff\u30ec\u30fc\u30c8 <span class=\"katex-eq\" data-katex-display=\"false\">d_B=1,6\\,\\text{USD\/GBP}<\/span> \u3067\u8cfc\u5165\u3057\u307e\u3059\u3002\u306a\u305c\u306a\u3089\uff1a<br \/>\n<\/p>\n<p style=\"text-align:center\"><span class=\"katex-eq\" data-katex-display=\"false\">1.000\\,\\text{GBP} \\cdot d_B = 1.000 \\text{GBP} \\cdot 1,6\\,\\dfrac{\\text{USD}}{\\text{GBP}}= 1.600\\,\\text{USD}<\/span>\n<\/li>\n<li>\u305d\u306e <span class=\"katex-eq\" data-katex-display=\"false\">x = 1,000 \\, GBP<\/span> \u3092\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u306b\u58f2\u5374\u3057\u3001<span class=\"katex-eq\" data-katex-display=\"false\">1.620\\,\\text{USD}<\/span> \u3092\u5f97\u307e\u3059\u3002\u306a\u305c\u306a\u3089\uff1a<br \/>\n<\/p>\n<p style=\"text-align:center\"><span class=\"katex-eq\" data-katex-display=\"false\">1.000\\,\\text{GBP}  = 1.000\\,\\text{GBP} \\cdot d_A = 1.000\\,\\text{GBP} \\cdot 1,62\\,\\dfrac{\\text{USD}}{\\text{GBP}} = 1.620\\,\\text{USD}  <\/span>\n<\/li>\n<li>\u3053\u306e\u58f2\u5374\u5f8c\u3001\u6700\u521d\u306b\u501f\u308a\u305f <span class=\"katex-eq\" data-katex-display=\"false\">1.600\\,\\text{USD}<\/span> \u3092\u8fd4\u6e08\u3057\u3001\u5dee\u984d\u306e <span class=\"katex-eq\" data-katex-display=\"false\">20\\,\\text{USD}<\/span> \u304c\u624b\u5143\u306b\u6b8b\u308a\u307e\u3059\u3002<\/li>\n<\/ol>\n<p>\u3053\u306e\u624b\u9806\u306b\u5f93\u3048\u3070\u3001\u521d\u671f\u4fa1\u5024\u304c <span class=\"katex-eq\" data-katex-display=\"false\">V(0)=0<\/span> \u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u3001\u5c06\u6765\u6642\u70b9\u3067 <span class=\"katex-eq\" data-katex-display=\"false\">V(1) = 20\\,\\text{USD}<\/span> \u3068\u3044\u3046\u4fa1\u5024\u3092\u78ba\u5b9f\u306b\u6301\u3061\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306b\u9055\u53cd\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u72b6\u6cc1\u3092\u524d\u306b\u3001\u6b21\u306e\u3088\u3046\u306b\u8003\u3048\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\uff1a\u300c<span class=\"katex-eq\" data-katex-display=\"false\">1.600 \\, \\text{USD}<\/span> \u3092\u501f\u308a\u3066 <span class=\"katex-eq\" data-katex-display=\"false\">20 \\, \\text{USD}<\/span> \u306e\u30ea\u30b9\u30af\u306a\u3057\u5229\u76ca\u3092\u5f97\u3089\u308c\u308b\u306a\u3089\u3001\u3082\u3063\u3068\u5927\u304d\u306a\u91d1\u984d\u3092\u501f\u308a\u3066\u5229\u76ca\u3092\u5897\u3084\u305b\u3070\u3044\u3044\u306e\u3067\u306f\uff1f\u300d\u305f\u3068\u3048\u3070\u3001<span class=\"katex-eq\" data-katex-display=\"false\">160.000 \\, \\text{USD}<\/span> \u3092\u501f\u308a\u308c\u3070\u3001<span class=\"katex-eq\" data-katex-display=\"false\">2.000 \\, \\text{USD}<\/span> \u306e\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u306f\u305a\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u3042\u306a\u305f\u304c\u3053\u306e\u6a5f\u4f1a\u306b\u6c17\u3065\u3044\u305f\u3088\u3046\u306b\u3001\u4ed6\u306e\u591a\u304f\u306e\u6295\u8cc7\u5bb6\u3082\u540c\u69d8\u306b\u6c17\u3065\u304d\u3001\u5546\u4ebaB\u3078\u306e\u9700\u8981\u304c\u6025\u5897\u3057\u3001\u5546\u4ebaA\u3078\u306e\u4f9b\u7d66\u3082\u5897\u52a0\u3059\u308b\u3067\u3057\u3087\u3046\u3002\u3053\u308c\u3089\u306e\u529b\u5b66\u306b\u3088\u3063\u3066\u3001\u4e21\u5546\u4eba\u306f\u3059\u3050\u306b\u81ea\u3089\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u3092\u8abf\u6574\u3057\u3001\u5e02\u5834\u306e\u5747\u8861\u3092\u53cd\u6620\u3055\u305b\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5546\u4eba\u3082\u5229\u76ca\u306e\u6700\u5927\u5316\u3092\u76ee\u6307\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u5fd8\u308c\u3066\u306f\u306a\u308a\u307e\u305b\u3093\u3002\u3082\u3057\u9700\u8981\u304c\u6025\u5897\u3059\u308c\u3070\u3001\u3088\u308a\u9ad8\u3044\u4fa1\u5024\u3092\u5f97\u308b\u305f\u3081\u306b\u30ec\u30fc\u30c8\u3092\u5f15\u304d\u4e0a\u3052\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001\u4f9b\u7d66\u304c\u904e\u5270\u306b\u306a\u308b\u3068\u3001\u7af6\u4e89\u529b\u3092\u4fdd\u3064\u305f\u3081\u306b\u30ec\u30fc\u30c8\u3092\u4e0b\u3052\u3056\u308b\u3092\u5f97\u306a\u304f\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u52d5\u7684\u306a\u30d7\u30ed\u30bb\u30b9\u306b\u3088\u3063\u3066\u3001\u4fa1\u683c\u306f\u8fc5\u901f\u306b\u8abf\u6574\u3055\u308c\u3001\u52b9\u7387\u7684\u306a\u5e02\u5834\u306b\u304a\u3051\u308b\u88c1\u5b9a\u6a5f\u4f1a\u306f\u6392\u9664\u3055\u308c\u308b\u306e\u3067\u3059\u3002<\/p>\n<h3>\u6642\u9593\u306b\u95a2\u3059\u308b\u88c1\u5b9a\u53d6\u5f15<\/h3>\n<p>\u6b21\u306e\u3088\u3046\u306b\u4eee\u5b9a\u3057\u307e\u3059\u3002\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u3068\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u304c\u3001\u82f1\u30dd\u30f3\u30c9\uff08GBP\uff09\u3092\u7c73\u30c9\u30eb\uff08USD\uff09\u3067\u4ee5\u4e0b\u306e\u30ec\u30fc\u30c8\u3067\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u306f\u30011\u5e74\u5f8c\u306b\u30dd\u30f3\u30c9\u3092 <span class=\"katex-eq\" data-katex-display=\"false\">d_A = 1,58\\,\\text{USD\/GBP}<\/span> \u306e\u5c06\u6765\u30ec\u30fc\u30c8\u3067\u8cfc\u5165\u3059\u308b\u3053\u3068\u306b\u540c\u610f\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<li>\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u306f\u3001\u4eca\u65e5\u30dd\u30f3\u30c9\u3092 <span class=\"katex-eq\" data-katex-display=\"false\">d_B = 1,60\\,\\text{USD\/GBP}<\/span> \u306e\u30ec\u30fc\u30c8\u3067\u8ca9\u58f2\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3055\u3089\u306b\u3001\u6b21\u306e\u3088\u3046\u306b\u4eee\u5b9a\u3057\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u7c73\u30c9\u30eb\u306f\u5e74\u73874%\u3067\u501f\u308a\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<li>\u82f1\u30dd\u30f3\u30c9\u306f\u5e74\u73876%\u306e\u91d1\u5229\u304c\u4ed8\u304f\u9280\u884c\u53e3\u5ea7\u306b\u9810\u3051\u3089\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u306e\u72b6\u6cc1\u306f\u3001\u521d\u671f\u6642\u70b9 <span class=\"katex-eq\" data-katex-display=\"false\">t = 0<\/span> \u306b\u304a\u3044\u3066\u6b21\u306e\u4fa1\u5024\u3092\u6301\u3064\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3068\u3057\u3066\u8868\u73fe\u3067\u304d\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">V(0) = 0<\/span>\n<p>\u4fa1\u683c\u5dee\u3068\u91d1\u5229\u5dee\u3092\u6d3b\u7528\u3057\u3066\u3001\u6b21\u306e\u3088\u3046\u306a\u88c1\u5b9a\u53d6\u5f15\u30b5\u30a4\u30af\u30eb\u3092\u5b9a\u7fa9\u3057\u307e\u3059\uff1a<\/p>\n<ol>\n<li><span class=\"katex-eq\" data-katex-display=\"false\">10.000\\,\\text{USD}<\/span> \u3092\u501f\u308a\u3001\u5546\u4ebaB\u306e\u70ba\u66ff\u30ec\u30fc\u30c8 <span class=\"katex-eq\" data-katex-display=\"false\">d_B = 1,60\\,\\text{USD\/GBP}<\/span> \u3092\u7528\u3044\u3066\u30dd\u30f3\u30c9\u306b\u4e21\u66ff\u3057\u307e\u3059\u3002\u5f97\u3089\u308c\u308b\u91d1\u984d\u306f\uff1a<\/li>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">10.000\\,\\text{USD} \\div 1,60\\,\\dfrac{\\text{USD}}{\\text{GBP}} = 6.250\\,\\text{GBP}<\/span>\n<li><span class=\"katex-eq\" data-katex-display=\"false\">6.250\\,\\text{GBP}<\/span> \u3092\u5e74\u52296%\u306e\u9280\u884c\u53e3\u5ea7\u306b\u9810\u3051\u5165\u308c\u307e\u3059\u30021\u5e74\u5f8c\u3001\u6b8b\u9ad8\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\uff1a<\/li>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">6.250\\,\\text{GBP} \\cdot (1 + 0,06) = 6.625\\,\\text{GBP}<\/span>\n<li><span class=\"katex-eq\" data-katex-display=\"false\">6.625\\,\\text{GBP}<\/span> \u3092\u5546\u4ebaA\u306e\u5c06\u6765\u30ec\u30fc\u30c8 <span class=\"katex-eq\" data-katex-display=\"false\">d_A = 1,58\\,\\text{USD\/GBP}<\/span> \u3067\u30c9\u30eb\u306b\u63db\u7b97\u3057\u307e\u3059\u3002\u5f97\u3089\u308c\u308b\u91d1\u984d\u306f\uff1a<\/li>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">6.625\\,\\text{GBP} \\cdot 1,58\\,\\dfrac{\\text{USD}}{\\text{GBP}} = 10.467,50\\,\\text{USD}<\/span>\n<li>\u5143\u672c <span class=\"katex-eq\" data-katex-display=\"false\">10.000\\,\\text{USD}<\/span> \u306b\u5e74\u52294%\u3092\u52a0\u3048\u305f\u8fd4\u6e08\u984d\u3092\u652f\u6255\u3044\u307e\u3059\uff1a<\/li>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">10.000\\,\\text{USD} \\cdot (1 + 0,04) = 10.400\\,\\text{USD}<\/span>\n<li>\u5dee\u984d\u304c\u7d14\u5229\u76ca\u3068\u3057\u3066\u6b8b\u308a\u307e\u3059\uff1a<\/li>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">10.467,50\\,\\text{USD} - 10.400\\,\\text{USD} = 67,50\\,\\text{USD}<\/span>\n<\/ol>\n<p>\u3053\u306e\u5834\u5408\u3001\u521d\u671f\u4fa1\u5024\u304c <span class=\"katex-eq\" data-katex-display=\"false\">V(0) = 0<\/span> \u3060\u3063\u305f\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u3001\u5c06\u6765\u4fa1\u5024 <span class=\"katex-eq\" data-katex-display=\"false\">V(1) = 67,50\\,\\text{USD}<\/span> \u3092\u6301\u3064\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8 <span class=\"katex-eq\" data-katex-display=\"false\">d_A = 1,58\\,\\text{USD\/GBP}<\/span> \u304c\u78ba\u73871\u3067\u5b9f\u73fe\u3059\u308b\u3068\u3044\u3046\u524d\u63d0\u306b\u57fa\u3065\u3044\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u73fe\u5b9f\u7684\u306a\u30b7\u30ca\u30ea\u30aa\u3067\u306f\u3001\u3053\u306e\u5c06\u6765\u30ec\u30fc\u30c8\u306f\u7570\u306a\u308b\u78ba\u7387\u306b\u5bfe\u5fdc\u3059\u308b\u8907\u6570\u306e\u53ef\u80fd\u306a\u5024\u306e\u7bc4\u56f2\u306b\u5c5e\u3057\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001<span class=\"katex-eq\" data-katex-display=\"false\">V(1) &gt; 0<\/span> \u3068\u306a\u308b\u78ba\u7387\u306f\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u6709\u5229\u306a\u7bc4\u56f2\u306b\u53ce\u307e\u308b\u78ba\u7387\u306b\u7b49\u3057\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5229\u76ca\u3092\u751f\u3080\u3088\u3046\u306a\u5c06\u6765\u30ec\u30fc\u30c8 <span class=\"katex-eq\" data-katex-display=\"false\">d_A<\/span> \u306e\u7bc4\u56f2\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u8a08\u7b97\u3067\u304d\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">d_A &gt; \\frac{10.400}{6.625} \\approx 1,57\\,\\text{USD\/GBP}<\/span>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u304c\u5229\u76ca\u3092\u751f\u3080\u305f\u3081\u306b\u306f\uff08<span class=\"katex-eq\" data-katex-display=\"false\">V(1) &gt; 0<\/span>\uff09\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u306f <span class=\"katex-eq\" data-katex-display=\"false\">1,57\\,\\text{USD\/GBP}<\/span> \u3088\u308a\u5927\u304d\u304f\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n<h3>\u5373\u6642\u88c1\u5b9a\u3068\u6642\u9593\u3092\u8d85\u3048\u305f\u88c1\u5b9a<\/h3>\n<p>\u524d\u8ff0\u306e\u4f8b\u3092\u632f\u308a\u8fd4\u308b\u3053\u3068\u3067\u3001\u88c1\u5b9a\u53d6\u5f15\u304c\u6642\u9593\u30b9\u30b1\u30fc\u30eb\u306b\u3088\u3063\u3066\u3069\u306e\u3088\u3046\u306b\u7570\u306a\u308b\u52d5\u4f5c\u3092\u793a\u3059\u304b\u304c\u660e\u3089\u304b\u306b\u306a\u308a\u307e\u3059\uff1a<\/p>\n<ul>\n<li><strong>\u77ed\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306e\u88c1\u5b9a\uff1a<\/strong> \u5373\u6642\u88c1\u5b9a\u306e\u4f8b\u3067\u306f\u3001\u53d6\u5f15\u696d\u8005\u9593\u306e\u4fa1\u683c\u5dee\u3092\u5229\u7528\u3057\u3066\u307b\u307c\u5373\u6642\u306b\u5229\u76ca\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u306f\u3001\u7279\u306b\u9ad8\u983b\u5ea6\u53d6\u5f15\uff08HFT\uff09\u306e\u3088\u3046\u306b\u53cd\u5fdc\u901f\u5ea6\u304c\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u3067\u306e\u88c1\u5b9a\u3092\u6392\u9664\u3059\u308b\u306b\u306f\u4e0d\u5341\u5206\u306a\u5834\u5408\u306b\u304a\u3044\u3066\u3001\u5e02\u5834\u304c\u975e\u5e38\u306b\u77ed\u671f\u9593\u3067\u306f\u8abf\u6574\u306e\u9045\u308c\u3092\u793a\u3059\u3053\u3068\u304c\u3042\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<li><strong>\u9577\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306e\u88c1\u5b9a\uff1a<\/strong> \u6642\u9593\u3092\u8d85\u3048\u305f\u88c1\u5b9a\u306e\u4f8b\u3067\u306f\u3001\u88c1\u5b9a\u306e\u6210\u529f\u306f\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u306e\u4e0d\u78ba\u5b9f\u306a\u5024\u306b\u4f9d\u5b58\u3057\u307e\u3059\u3002\u3053\u306e\u6587\u8108\u3067\u306f\u3001\u88c1\u5b9a\u304c\u6210\u529f\u3059\u308b\u78ba\u7387\u306f\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u6709\u5229\u306a\u7bc4\u56f2\u306b\u5165\u308b\u3053\u3068\u306b\u6761\u4ef6\u4ed8\u3051\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u671f\u5f85\u3057\u305f\u7d50\u679c\u304c\u5b9f\u73fe\u3057\u306a\u3044\u5834\u5408\u3001\u5229\u76ca\u3060\u3051\u3067\u306a\u304f\u640d\u5931\u306e\u30ea\u30b9\u30af\u3082\u751f\u3058\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u3053\u308c\u3089\u306e\u9055\u3044\u306f\u3001\u52b9\u7387\u7684\u306a\u5e02\u5834\u306b\u304a\u3051\u308b\u88c1\u5b9a\u306e\u672c\u8cea\u7684\u306a\u5074\u9762\u3092\u5f37\u8abf\u3057\u307e\u3059\u3002\u3059\u306a\u308f\u3061\u3001\u5e02\u5834\u306e\u8abf\u6574\u306f\u52d5\u7684\u3067\u3042\u308a\u3001\u77ed\u671f\u30fb\u9577\u671f\u3044\u305a\u308c\u306e\u30b9\u30b1\u30fc\u30eb\u3067\u3082\u767a\u751f\u3057\u307e\u3059\u304c\u3001\u305d\u306e\u30e1\u30ab\u30cb\u30ba\u30e0\u306f\u7570\u306a\u308a\u307e\u3059\uff1a<\/p>\n<ul>\n<li>\u77ed\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306f\u3001\u5e02\u5834\u306e\u529b\uff08\u9700\u8981\u3068\u4f9b\u7d66\uff09\u304c\u4fa1\u683c\u5dee\u3092\u8fc5\u901f\u306b\u4fee\u6b63\u3057\u3001\u88c1\u5b9a\u6a5f\u4f1a\u3092\u6392\u9664\u3057\u3066\u4fa1\u683c\u5747\u8861\u3092\u56de\u5fa9\u3055\u305b\u307e\u3059\u3002<\/li>\n<li>\u9577\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306f\u3001\u8abf\u6574\u306f\u5373\u6642\u306e\u5e02\u5834\u529b\u306b\u52a0\u3048\u3066\u3001\u5c06\u6765\u306e\u5024\u306b\u5bfe\u3059\u308b\u671f\u5f85\u3068\u78ba\u7387\u306b\u4f9d\u5b58\u3057\u307e\u3059\u3002\u3053\u306e\u7a2e\u306e\u88c1\u5b9a\u306b\u306f\u640d\u5931\u306e\u30ea\u30b9\u30af\u304c\u4f34\u3046\u305f\u3081\u3001\u5229\u7528\u306b\u306f\u78ba\u7387\u30e2\u30c7\u30eb\u306b\u57fa\u3065\u3044\u305f\u8a08\u7b97\u3055\u308c\u305f\u610f\u601d\u6c7a\u5b9a\u304c\u5fc5\u8981\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>\u691c\u8a0e\u3057\u305f\u4f8b\u306b\u95a2\u3059\u308b\u8003\u5bdf<\/h3>\n<p>\u3053\u308c\u3089\u306e\u7406\u60f3\u7684\u306a\u4f8b\u3067\u306f\u3001\u53d6\u5f15\u30b3\u30b9\u30c8\u3001\u7a0e\u91d1\u3001\u6d41\u52d5\u6027\u5236\u7d04\u304c\u5b58\u5728\u3057\u306a\u3044\u3068\u4eee\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u73fe\u5b9f\u306e\u5e02\u5834\u3067\u306f\u3001\u3053\u308c\u3089\u306e\u8981\u56e0\u304c\u88c1\u5b9a\u30b5\u30a4\u30af\u30eb\u306b\u3088\u308b\u7406\u8ad6\u7684\u306a\u5229\u76ca\u3092\u6253\u3061\u6d88\u3059\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u305f\u3068\u3048\u3070\u3001\u53d6\u5f15\u624b\u6570\u6599\u3001\u5e02\u5834\u30b9\u30d7\u30ec\u30c3\u30c9\u3001\u898f\u5236\u4e0a\u306e\u5236\u9650\u306a\u3069\u306b\u3088\u308a\u3001\u4fa1\u683c\u5dee\u304c\u7d14\u5229\u76ca\u3092\u751f\u3080\u306e\u306b\u5341\u5206\u306a\u5e45\u3092\u6301\u305f\u306a\u3044\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u7406\u8ad6\u7684\u306a\u539f\u5247\u306f\u6709\u52b9\u3067\u3042\u3063\u3066\u3082\u3001\u305d\u306e\u5b9f\u969b\u306e\u9069\u7528\u306b\u306f\u3088\u308a\u8a73\u7d30\u306a\u5206\u6790\u3068\u8ffd\u52a0\u30b3\u30b9\u30c8\u306e\u8003\u616e\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<p><a name=\"4\"><\/a><\/p>\n<h2>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u3068\u78ba\u7387<\/h2>\n<p>\u77ed\u671f\u30b9\u30b1\u30fc\u30eb\u306b\u304a\u3044\u3066\u306f\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u4fa1\u683c\u306e\u8fc5\u901f\u306a\u8abf\u6574\u3092\u901a\u3058\u3066\u305d\u306e\u59a5\u5f53\u6027\u3092\u793a\u3057\u307e\u3059\u304c\u3001\u9577\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306f\u3001\u5c06\u6765\u306e\u4fa1\u5024\u306b\u5bfe\u3059\u308b\u671f\u5f85\u3092\u30e2\u30c7\u30eb\u5316\u3059\u308b\u305f\u3081\u306b\u78ba\u7387\u306e\u5c0e\u5165\u304c\u5fc5\u8981\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u8208\u5473\u6df1\u3044\u89b3\u5bdf\u3068\u3057\u3066\u3001\u9577\u671f\u30b9\u30b1\u30fc\u30eb\u3067\u306f\u5358\u7d14\u306a\u5e02\u5834\u30e2\u30c7\u30eb\u304c\u62e1\u5f35\u3055\u308c\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u306b\u95a2\u9023\u3059\u308b\u78ba\u7387\u5206\u5e03\u3092\u542b\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u88c1\u5b9a\u306e\u6210\u529f\u78ba\u7387\u306f\u3001\u5c06\u6765\u306e\u70ba\u66ff\u30ec\u30fc\u30c8\u304c\u6709\u5229\u306a\u7bc4\u56f2\u5185\u306b\u3042\u308b\u78ba\u7387\u3068\u3057\u3066\u8868\u73fe\u3055\u308c\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">\\displaystyle P(V(1) &gt; 0) = \\int_{d_{\\text{m\u00edn}}}^{\\infty} P(d_A) \\, \\text{d}d_A<\/span>\n<p>\u3053\u306e\u62e1\u5f35\u30d5\u30ec\u30fc\u30e0\u3067\u306f\u3001\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u671f\u5f85\u5024\u3082\u8a08\u7b97\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u3067\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">\\displaystyle E(V(1)) = \\int_{-\\infty}^{\\infty} V(1) \\cdot P(V(1)) \\, \\text{d}V(1)<\/span>\n<p>\u3053\u306e\u3088\u3046\u306b\u3057\u3066\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u5358\u306b\u30ea\u30b9\u30af\u306a\u3057\u5229\u76ca\u306e\u6392\u9664\u3092\u8aac\u660e\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u4e0d\u78ba\u5b9f\u306a\u5c06\u6765\u7d50\u679c\u306b\u4f9d\u5b58\u3059\u308b\u88c1\u5b9a\u306e\u6587\u8108\u306b\u304a\u3044\u3066\u3001\u30ea\u30b9\u30af\u3068\u78ba\u7387\u306e\u52d5\u614b\u3082\u53d6\u308a\u8fbc\u3080\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><a name=\"5\"><\/a><\/p>\n<h2>\u88c1\u5b9a\u53d6\u5f15\u306e\u30b1\u30fc\u30b9\u5206\u6790\uff1a\u901a\u8ca8\u4ea4\u63db<\/h2>\n<p>2002\u5e747\u670819\u65e5\u3001\u30cb\u30e5\u30fc\u30e8\u30fc\u30af\u306e\u5546\u4ebaA\u3068\u30ed\u30f3\u30c9\u30f3\u306e\u5546\u4ebaB\u306f\u3001\u30e6\u30fc\u30ed\uff08EUR\uff09\u3001\u82f1\u30dd\u30f3\u30c9\uff08GBP\uff09\u3001\u7c73\u30c9\u30eb\uff08USD\uff09\u306e\u4ea4\u63db\u306b\u95a2\u3057\u3066\u4ee5\u4e0b\u306e\u30ec\u30fc\u30c8\u3092\u63d0\u793a\u3057\u307e\u3057\u305f\uff1a<\/p>\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u5546\u4ebaA<\/th>\n<th>\u8cb7\u3044<\/th>\n<th>\u58f2\u308a<\/th>\n<\/tr>\n<\/thead>\n<tr>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,000\\,\\text{EUR}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,0202\\,\\text{USD}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,0284\\,\\text{USD}<\/span><\/td>\n<\/tr>\n<tr>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,000\\,\\text{GBP}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,5718\\,\\text{USD}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,5844\\,\\text{USD}<\/span><\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u5546\u4ebaB<\/th>\n<th>\u8cb7\u3044<\/th>\n<th>\u58f2\u308a<\/th>\n<\/tr>\n<\/thead>\n<tr>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,000\\,\\text{EUR}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">0,6324\\,\\text{GBP}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">0,6401\\,\\text{GBP}<\/span><\/td>\n<\/tr>\n<tr>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">1,000\\,\\text{USD}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">0,6299\\,\\text{GBP}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">0,6375\\,\\text{GBP}<\/span><\/td>\n<\/tr>\n<\/table>\n<p>\u5546\u4ebaA\u304a\u3088\u3073B\u304c\u63d0\u4f9b\u3059\u308b\u70ba\u66ff\u30ec\u30fc\u30c8\u3092\u7528\u3044\u3066\u3001\u30ea\u30b9\u30af\u306a\u3057\u3067\u5229\u76ca\u3092\u5f97\u308b\u6a5f\u4f1a\u3092\u7279\u5b9a\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u88c1\u5b9a\u30b5\u30a4\u30af\u30eb\u3092\u8a18\u8ff0\u3057\u3001\u7d14\u5229\u76ca\u3092\u8a08\u7b97\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<p><center><iframe class=\"lazyload\" width=\"560\" height=\"315\" data-src=\"https:\/\/www.youtube.com\/embed\/dO5kHGA3sgI?si=Qu_BCgq0Jx2h93fe\" title=\"YouTube video player\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/center><\/p>\n<h3>\u89e3\u7b54<\/h3>\n<p>\u3053\u306e\u30b1\u30fc\u30b9\u306e\u89e3\u6c7a\u7b56\u3092\u63a2\u308b\u305f\u3081\u3001\u307e\u305a\u4e21\u5546\u4eba\u306e\u58f2\u8cb7\u306b\u304a\u3051\u308b\u3055\u307e\u3056\u307e\u306a\u63db\u7b97\u30ec\u30fc\u30c8\u3092\u7279\u5b9a\u3057\u3001\u305d\u308c\u3089\u3092\u6709\u6a5f\u7684\u304b\u3064\u9069\u5207\u306a\u65b9\u6cd5\u3067\u8868\u8a18\u3057\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u306b\u3001\u8868\u304b\u3089\u3069\u306e\u3088\u3046\u306b\u58f2\u8cb7\u53d6\u5f15\u304c\u884c\u308f\u308c\u308b\u304b\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002<\/p>\n<p><strong>\u307e\u305a\u3001\u3053\u308c\u3089\u306e\u63db\u7b97\u8868\u306e\u8aad\u307f\u65b9\u3092\u78ba\u8a8d\u3057\u307e\u3057\u3087\u3046<\/strong><\/p>\n<p>\u5546\u4ebaA\u306e\u5834\u5408\uff1a<\/p>\n<ol>\n<li> <span class=\"katex-eq\" data-katex-display=\"false\">\u20ac\\,1<\/span> \u3092\u6301\u3063\u3066\u3044\u308b\u5834\u5408\u3001\u5546\u4ebaA\u306f <span class=\"katex-eq\" data-katex-display=\"false\">\\$\\,1,0202<\/span> \u3067\u8cb7\u3044\u53d6\u308a\u307e\u3059\u3002<\/li>\n<li> <span class=\"katex-eq\" data-katex-display=\"false\">\u20ac\\,1<\/span> \u3092\u6b32\u3057\u3044\u5834\u5408\u3001\u5546\u4ebaA\u306f <span class=\"katex-eq\" data-katex-display=\"false\">\\$\\,1.0284<\/span> \u3067\u8ca9\u58f2\u3057\u307e\u3059\u3002<\/li>\n<\/ol>\n<p>\u3053\u308c\u3089\u306e\u53d6\u5f15\u30d7\u30ed\u30bb\u30b9\u306f\u6b21\u306e\u5f0f\u3067\u30e2\u30c7\u30eb\u5316\u3067\u304d\u307e\u3059\u3002<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">\\begin{array}{rl}\n\n\\text{\u30e6\u30fc\u30ed\u3092\u30c9\u30eb\u3067\u8cfc\u5165\uff1a} &amp; {x_A}^{\\$} = {\\left[{\\tau_{A}}\\right]_{\u20ac}}^{\\$}x^{\u20ac}\\\\ \\\\\n\n\\text{\u30e6\u30fc\u30ed\u3092\u30c9\u30eb\u3067\u8ca9\u58f2\uff1a} &amp; {x_A}^{\u20ac} = {\\left[{\\tau_{A}}\\right]_{\\$}}^{\u20ac}x^{\\$}\n\n\\end{array}<\/span>\n<p>\u3053\u3053\u3067\u3001<span class=\"katex-eq\" data-katex-display=\"false\">x^{\\$}<\/span> \u304a\u3088\u3073 <span class=\"katex-eq\" data-katex-display=\"false\">x^{\u20ac}<\/span> \u306f\u5229\u7528\u8005\u304c\u652f\u6255\u3046\u91d1\u984d\u3001<span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\\$}<\/span> \u304a\u3088\u3073 <span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\u20ac}<\/span> \u306f\u305d\u308c\u305e\u308c\u5546\u4ebaA\u304c\u5f15\u304d\u6e21\u3059\u30c9\u30eb\u3068\u30e6\u30fc\u30ed\u306e\u91d1\u984d\u3001<span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\u20ac}}^{\\$}= \\$\\,1,0202\/\u20ac<\/span> \u304a\u3088\u3073 <span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\\$}}^{\u20ac}=\u20ac\/\\$\\,1,0284<\/span> \u306f\u5404\u30d7\u30ed\u30bb\u30b9\u306e\u63db\u7b97\u30ec\u30fc\u30c8\u3067\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306b\u3057\u3066\u3001\u4e21\u5546\u4eba\u306e\u58f2\u8cb7\u30d7\u30ed\u30bb\u30b9\u304a\u3088\u3073\u305d\u308c\u305e\u308c\u306e\u63db\u7b97\u30ec\u30fc\u30c8\u3092\u4f53\u7cfb\u7684\u306b\u307e\u3068\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\uff1a<\/p>\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u30d7\u30ed\u30bb\u30b9<\/th>\n<th>\u8cb7\u3044<\/th>\n<th>\u58f2\u308a<\/th>\n<\/tr>\n<\/thead>\n<tr>\n<th>\u5546\u4ebaA (EUR\/USD)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\\$} = {\\left[{\\tau_{A}}\\right]_{\u20ac}}^{\\$}x^{\u20ac}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\u20ac} = {\\left[{\\tau_{A}}\\right]_{\\$}}^{\u20ac}x^{\\$}<\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaA (GBP\/USD)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\\$} = {\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$}x^{\u00a3}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\u00a3} = {\\left[{\\tau_{A}}\\right]_{\\$}}^{\u00a3}x^{\\$}<\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaB (EUR\/GBP)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_B}^{\u00a3} = {\\left[{\\tau_{B}}\\right]_{\u20ac}}^{\u00a3}x^{\u20ac}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_B}^{\u20ac} = {\\left[{\\tau_{B}}\\right]_{\u00a3}}^{\u20ac}x^{\u00a3}<\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaB (USD\/GBP)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_B}^{\u00a3} = {\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3}x^{\\$}<\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{x_B}^{\\$} = {\\left[{\\tau_{B}}\\right]_{\u00a3}}^{\\$}x^{\u00a3}<\/span><\/td>\n<\/tr>\n<\/table>\n<table border=\"1\">\n<thead>\n<tr>\n<th>\u63db\u7b97\u30ec\u30fc\u30c8<\/th>\n<th>\u8cb7\u3044<\/th>\n<th>\u58f2\u308a<\/th>\n<\/tr>\n<\/thead>\n<tr>\n<th>\u5546\u4ebaA (EUR\/USD)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\u20ac}}^{\\$} = \\dfrac{\\$\\,1,0202}{\u20ac\\,1} <\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\\$}}^{\u20ac} = \\dfrac{\u20ac\\,1}{\\$\\,1,0284} <\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaA (GBP\/USD)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$} = \\dfrac{\\$\\,1,5718}{\u00a3\\,1} <\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{A}}\\right]_{\\$}}^{\u00a3} = \\dfrac{\u00a3\\,1}{\\$\\,1,5844} <\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaB (EUR\/GBP)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{B}}\\right]_{\u20ac}}^{\u00a3} = \\dfrac{\u00a3\\,0,6324}{\u20ac\\,1} <\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{B}}\\right]_{\u00a3}}^{\u20ac} = \\dfrac{\u20ac\\,1}{\u00a3\\,0,6401} <\/span><\/td>\n<\/tr>\n<tr>\n<th>\u5546\u4ebaB (USD\/GBP)<\/th>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3} = \\dfrac{\u00a3\\,0,6299}{\\$\\,1} <\/span><\/td>\n<td><span class=\"katex-eq\" data-katex-display=\"false\">{\\left[{\\tau_{B}}\\right]_{\u00a3}}^{\\$} = \\dfrac{\\$\\,1}{\u00a3\\,0,6375} <\/span><\/td>\n<\/tr>\n<\/table>\n<h4>\u53ef\u80fd\u306a\u88c1\u5b9a\u6a5f\u4f1a\u3092\u63a2\u308b\u30b5\u30a4\u30af\u30eb\u306e\u5206\u6790<\/h4>\n<p>\u57fa\u672c\u7684\u306a\u88c1\u5b9a\u30b5\u30a4\u30af\u30eb\u306f\u3001\u3042\u308b\u5e02\u5834\u3067\u8cb7\u3044\u3001\u5225\u306e\u5e02\u5834\u3067\u58f2\u308a\u3001\u5dee\u984d\u3067\u5229\u76ca\u3092\u5f97\u3066\u305d\u306e\u30d7\u30ed\u30bb\u30b9\u3092\u7e70\u308a\u8fd4\u3059\u3082\u306e\u3067\u3059\u3002\u524d\u7bc0\u3067\u5c0e\u51fa\u3057\u305f\u5f0f\u3092\u4f7f\u3048\u3070\u3001\u5404\u58f2\u8cb7\u64cd\u4f5c\u306f\u63db\u7b97\u30ec\u30fc\u30c8\u3067\u5b9a\u7fa9\u3055\u308c\u308b\u5909\u63db\u306e\u9010\u6b21\u9069\u7528\u3068\u3057\u3066\u89e3\u91c8\u3067\u304d\u307e\u3059\u3002\u7d50\u679c\u3092\u6bd4\u8f03\u3057\u30b5\u30a4\u30af\u30eb\u306e\u6210\u679c\u3092\u8a55\u4fa1\u3059\u308b\u306b\u306f\u3001\u5fc5\u305a\u5143\u306e\u901a\u8ca8\u306b\u623b\u308b\u5fc5\u8981\u304c\u3042\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<h4>\u640d\u5931\u3092\u751f\u3080\u30b5\u30a4\u30af\u30eb\u306e\u4f8b<\/h4>\n<p>\u5546\u4ebaB\u304c\u8cb7\u3044\u53d6\u308b\u30c9\u30eb\u306e\u91cf <span class=\"katex-eq\" data-katex-display=\"false\">x^{\\$}<\/span> \u3092\u4f7f\u3044\u3001\u5f97\u3089\u308c\u308b\u30dd\u30f3\u30c9\u306f <span class=\"katex-eq\" data-katex-display=\"false\">{x_B}^{\u00a3} = {\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3}x^{\\$}<\/span> \u3067\u3059\u3002\u305d\u306e\u5f8c\u3001\u5546\u4ebaA\u306b\u6301\u53c2\u3059\u308c\u3070\u3001A\u306f <span class=\"katex-eq\" data-katex-display=\"false\">{x_A}^{\\$} = {\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$}{x_B}^{\u00a3} = {\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$}{\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3}x^{\\$}<\/span> \u306e\u30c9\u30eb\u3092\u652f\u6255\u3044\u307e\u3059\u3002\u3053\u3046\u3057\u3066\u3001\u3053\u306e\u30d7\u30ed\u30bb\u30b9\u306e\u6700\u7d42\u30c9\u30eb\u984d\u3068\u521d\u671f\u30c9\u30eb\u984d\u306e\u5dee\u306f\u6b21\u306e\u3088\u3046\u306b\u8868\u305b\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">\\begin{array}{rl}\n\n{\\Delta_{AB}}(x^{\\$}) &amp;= {\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$}{\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3}x^{\\$} - x^{\\$} \\\\ \\\\\n\n&amp;= \\left( {\\left[{\\tau_{A}}\\right]_{\u00a3}}^{\\$}{\\left[{\\tau_{B}}\\right]_{\\$}}^{\u00a3} - 1 \\right)x^{\\$} \\approx -0,00992 x^{\\$}\n\n\\end{array}<\/span>\n<p>\u3053\u308c\u306f\u640d\u5931\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u5206\u6790\u304b\u3089\u3001\u95a2\u4e0e\u3059\u308b\u63db\u7b97\u30ec\u30fc\u30c8\u306e\u7a4d\u304c1\u3092\u8d85\u3048\u308b\u5834\u5408\u306b\u306e\u307f\u3001\u5229\u76ca\u304c\u5f97\u3089\u308c\u308b\u3053\u3068\u304c\u5206\u304b\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u5143\u306e\u901a\u8ca8\u306b\u623b\u308b\u58f2\u8cb7\u30d7\u30ed\u30bb\u30b9\u306f\u3059\u3079\u3066\u30b5\u30a4\u30af\u30eb\u3068\u306a\u308b\u305f\u3081\u3001\u3059\u3079\u3066\u306e\u30b5\u30a4\u30af\u30eb\u58f2\u8cb7\u3092\u7279\u5b9a\u3057\u3001\u6f5c\u5728\u7684\u306a\u88c1\u5b9a\u6a5f\u4f1a\u3092\u898b\u3064\u3051\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<h4>\u5229\u76ca\u3092\u751f\u3080\u30b5\u30a4\u30af\u30eb\u306e\u4f8b<\/h4>\n<p>\u305f\u3068\u3048\u3070\u3001<span class=\"katex-eq\" data-katex-display=\"false\"> {[\\tau_B]_{\\$}}^{\u00a3} {[\\tau_A]_{\u20ac}}^{\\$} {[\\tau_B]_{\u00a3}}^{\u20ac} = \\dfrac{1}{0,6401} \\cdot 1,0202 \\cdot 0,6299 \\approx 1,00394<\/span> \u3068\u306a\u308b\u305f\u3081\u3001\u6b21\u306e\u3088\u3046\u306b\u30dd\u30f3\u30c9\u3067\u306e\u5229\u76ca\u3092\u7279\u5b9a\u3067\u304d\u307e\u3059\u3002<\/p>\n<p style=\"text-align:center\"><span class=\"katex-eq\" data-katex-display=\"false\">{\\Delta_{BAB}}(x^{\u00a3}) = \\left({[\\tau_B]_{\\$}}^{\u00a3} {[\\tau_A]_{\u20ac}}^{\\$} {[\\tau_B]_{\u00a3}}^{\u20ac}-1 \\right)x^{\u00a3} \\approx 0,003943 x^{\u00a3} <\/span>\n<p>\u3053\u306e\u624b\u9806\u306f\u6b21\u306e\u901a\u308a\u3067\u3059\uff1a\u30dd\u30f3\u30c9 <span class=\"katex-eq\" data-katex-display=\"false\">x^{\u00a3}<\/span> \u3092\u5546\u4ebaB\u306b\u6301\u53c2\u3057\u3066\u30e6\u30fc\u30ed\u3092\u8cfc\u5165\u3057\u3001\u5f97\u305f\u30e6\u30fc\u30ed\u3067\u5546\u4ebaA\u304b\u3089\u30c9\u30eb\u3092\u8cfc\u5165\u3001\u3055\u3089\u306b\u5f97\u305f\u30c9\u30eb\u3067\u5546\u4ebaB\u304b\u3089\u30dd\u30f3\u30c9\u3092\u8cb7\u3044\u623b\u3057\u307e\u3059\u3002\u3053\u306e\u30d7\u30ed\u30bb\u30b9\u3092 <span class=\"katex-eq\" data-katex-display=\"false\">\u00a3\\,10.000<\/span> \u501f\u308a\u3066\u59cb\u3081\u305f\u5834\u5408\u3001\u30ed\u30fc\u30f3\u8fd4\u6e08\u5f8c\u306e\u7d14\u5229\u76ca\u306f\u6b21\u306e\u3088\u3046\u306b\u6982\u7b97\u3067\u304d\u307e\u3059\uff1a<\/p>\n<p style=\"text-align:center;\"><span class=\"katex-eq\" data-katex-display=\"false\">{\\Delta_{BAB}}(\u00a3\\,10.000) \\approx 0,003943 \\cdot  \u00a3\\,10.000 =  \u00a3\\,39,43<\/span>\n<p><a name=\"6\"><\/a><\/p>\n<h2>\u7d50\u8ad6<\/h2>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u91d1\u878d\u5e02\u5834\u306e\u5b89\u5b9a\u6027\u3068\u52b9\u7387\u6027\u306b\u3068\u3063\u3066\u6839\u672c\u7684\u306a\u6982\u5ff5\u3067\u3059\u3002\u88c1\u5b9a\u6a5f\u4f1a\u306e\u6392\u9664\u3092\u901a\u3058\u3066\u3001\u8cc7\u7523\u4fa1\u683c\u304c\u305d\u306e\u5b9f\u969b\u306e\u4fa1\u5024\u3092\u6b63\u78ba\u306b\u53cd\u6620\u3057\u3001\u6295\u6a5f\u7684\u884c\u52d5\u3084\u5e02\u5834\u306e\u6b6a\u307f\u3092\u751f\u3080\u4e0d\u5747\u8861\u3092\u9632\u3050\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u539f\u5247\u306e\u610f\u7fa9\u306f\u7406\u8ad6\u9818\u57df\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\u91d1\u878d\u5546\u54c1\u306e\u8a55\u4fa1\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u7ba1\u7406\u3001\u6295\u8cc7\u6226\u7565\u306e\u8a2d\u8a08\u306b\u76f4\u63a5\u5fdc\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u7279\u306b\uff1a<\/p>\n<ul>\n<li>\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u3088\u3046\u306a\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u4fa1\u683c\u30e2\u30c7\u30eb\u306f\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u3092\u524d\u63d0\u306b\u69cb\u7bc9\u3055\u308c\u3001\u4e00\u8cab\u3057\u305f\u7406\u8ad6\u4fa1\u683c\u3092\u5c0e\u304d\u307e\u3059\u3002<\/li>\n<li>\u88c1\u5b9a\u53d6\u5f15\u306e\u5b9f\u8df5\u306f\u3001\u305d\u306e\u898f\u6a21\u3084\u6301\u7d9a\u671f\u9593\u306b\u9650\u308a\u306f\u3042\u308b\u3082\u306e\u306e\u3001\u5e02\u5834\u306e\u81ea\u7136\u306a\u8abf\u6574\u30e1\u30ab\u30cb\u30ba\u30e0\u3068\u3057\u3066\u6a5f\u80fd\u3057\u3001\u4fa1\u683c\u306e\u4e0d\u4e00\u81f4\u304c\u4e00\u6642\u7684\u306a\u3082\u306e\u306b\u7559\u307e\u308b\u3088\u3046\u306b\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<li>\u3053\u306e\u539f\u5247\u306f\u91d1\u878d\u5e02\u5834\u306e\u900f\u660e\u6027\u3068\u4fe1\u983c\u6027\u3092\u9ad8\u3081\u3001\u6226\u7565\u7684\u610f\u601d\u6c7a\u5b9a\u306e\u305f\u3081\u306e\u5805\u56fa\u306a\u57fa\u76e4\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p>\u5b9f\u969b\u306b\u691c\u8a0e\u3057\u305f\u4f8b\u3067\u306f\u3001\u70ba\u66ff\u30ec\u30fc\u30c8\u3084\u91d1\u5229\u306e\u308f\u305a\u304b\u306a\u9055\u3044\u3067\u3042\u3063\u3066\u3082\u5229\u76ca\u3092\u5f97\u308b\u305f\u3081\u306b\u6d3b\u7528\u3067\u304d\u308b\u3053\u3068\u304c\u793a\u3055\u308c\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u73fe\u5b9f\u306b\u306f\u3001\u53d6\u5f15\u624b\u6570\u6599\u3084\u5e02\u5834\u306e\u5236\u7d04\u306a\u3069\u306e\u30b3\u30b9\u30c8\u304c\u5b58\u5728\u3059\u308b\u305f\u3081\u3001\u3053\u308c\u3089\u306e\u5229\u76ca\u306f\u901a\u5e38\u9650\u5b9a\u7684\u3067\u3059\u3002<\/p>\n<p>\u6700\u7d42\u7684\u306b\u3001\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306f\u3001\u91d1\u878d\u5e02\u5834\u306e\u4ed5\u7d44\u307f\u3092\u7406\u89e3\u3059\u308b\u3046\u3048\u3067\u5f79\u7acb\u3064\u3060\u3051\u3067\u306a\u304f\u3001\u5805\u7262\u304b\u3064\u4e00\u8cab\u6027\u306e\u3042\u308b\u6570\u5b66\u30e2\u30c7\u30eb\u3092\u958b\u767a\u3059\u308b\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u306a\u30c4\u30fc\u30eb\u3067\u3082\u3042\u308a\u307e\u3059\u3002\u91d1\u878d\u6570\u5b66\u306b\u304a\u3051\u308b\u305d\u306e\u91cd\u8981\u6027\u306f\u3001\u5e02\u5834\u306e\u52d5\u614b\u3092\u9ad8\u7cbe\u5ea6\u3067\u5206\u6790\u30fb\u8a2d\u8a08\u30fb\u4e88\u6e2c\u3067\u304d\u308b\u6982\u5ff5\u7684\u306a\u67a0\u7d44\u307f\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247\u306e\u7814\u7a76\u3068\u5fdc\u7528\u306f\u3001\u91d1\u878d\u5206\u91ce\u306e\u5c02\u9580\u5bb6\u3060\u3051\u3067\u306a\u304f\u3001\u5b66\u8005\u3084\u7814\u7a76\u8005\u306b\u3082\u65b0\u305f\u306a\u7406\u8ad6\u3084\u6226\u7565\u3092\u767a\u5c55\u3055\u305b\u308b\u80a5\u6c83\u306a\u571f\u58cc\u3092\u4e0e\u3048\u3001\u30c0\u30a4\u30ca\u30df\u30c3\u30af\u304b\u3064\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u5e02\u5834\u74b0\u5883\u306b\u304a\u3044\u3066\u5f79\u7acb\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u88c1\u5b9a\u6a5f\u4f1a\u306a\u3057\u306e\u539f\u5247 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