The empirical result shows that the absolute values of risk elasticity are more than 1 under various returns and it also indicates that the proposed model based on mean absolute deviation is better than mean variance model based on variance both in theory and in practice. 实证分析表明,在不同收益率水平下,风险弹性的绝对值都大于1.说明绝对离差模型比均值-方差模型无论在理论上还是在实际效果上都要更好。