老师要做 股权溢价之谜的 论文。。

无奈经济学得不好，只学过宏微观。。

然后好多东西看不懂。。

比如说，有这么一句话：

economic agents prefer to smooth patterns of consumption over time就看不懂。。。。

希望达人可以解答一下！谢谢！

另　此句接下去是：assets that pay off a relatively larger amount at times when consumption is already high "destabilize" these patterns of consumption, whereas assets that pay off when consumption levels are low "smooth out" consumption.

我勉强还可以翻译出来，但是经济意义完全不理解～～

希望高手浮出来。。。。

多谢！！