Метран 100 коды ошибок

>:LQBDB >:<E?GBYK?JBBF?LJ:GBgkljmdpbyihgZkljhcd_KI=DBG<_jkbyQ_ey[bgkd2004Kh^_j`Zgb_DhgljhevgZkljhcdbiZjZf_ljh\^ZlqbdZ …………………………………………… 6:\lhfZlbq_kdZydZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZ…………………………………………………………………………………. 6GZkljhcdZ_^bgbpbaf_j_gbybebijhp_glh\hl^bZiZahgZ^ZlqbdZ . 11GZkljhcdZ\j_f_gbmklZgh\e_gby\uoh^gh]hkb]gZeZ …………………… 11GZkljhcdZ^bZiZahgZbaf_j_gbc…………………………………………………… 12<u[hjkbkl_fu_^bgbpbaf_j_gby ………………………………………………..

13<u[hjijyfhcebg_cghcdhjg_ba\e_dZxs_cbebbg\_jkghc ebg_cghcoZjZdl_jbklbdb …………………………………………………. 14MklZgh\dZkf_s_ggh]hgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ©kf_s_ggucghevªdjhf_^Zlqbdh\>B< …………………………… 16DZeb[jh\dZ^ZlqbdZ ……………………………………………………………………………

18DZeb[jh\dZgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZP:IdZeb[jh\dZ©gmeyªP:I …………………………………………………………. 182.2 DZeb[jh\dZdhg_qgh]hagZq_gby\uoh^gh]hkb]gZeZP:IdZeb[jh\dZ©gZdehgZªP:I ……………………………………………………. 19DZeb[jh\dZ©gmeyª:PI……………………………………………………………….

20DZeb[jh\dZ^bZiZahgZbaf_j_gbc…………………………………………………. 21DZeb[jh\dZ^ZlqbdZ>B< …………………………………………………………….. 22J_`bfbaf_j_gby ………………………………………………………………………………. 26Ijbf_jugZkljhcdb^Zlqbdh\ …………………………………………………………….

27DhgljhevgZkljhcdbiZjZf_ljh\^ZlqbdZ …………………………………………… 30:\lhfZlbq_kdZydZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZ…………………………………………………………………………………. 33GZkljhcdZ_^bgbpbaf_j_gbybebijhp_glh\hl^bZiZahgZ^ZlqbdZ . 34GZkljhcdZ\j_f_gbmkj_^g_gby\uoh^gh]hkb]gZeZ^_finbjh\Zgb_…………………………………………………………………… 35GZkljhcdZ^bZiZahgZbaf_j_gbc……………………………………………………

353<u[hjijyfhcebg_cghcdhjg_ba\e_dZxs_cbebbg\_jkghcebg_cghcoZjZdl_jbklbdb ………………………………………………………………….. 37MklZgh\dZgb`g_]hij_^_eZbaf_j_gbcGIB……………………………… 39DZeb[jh\dZ^ZlqbdZ …………………………………………………………………………… 41DZeb[jh\dZgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZP:IdZeb[jh\dZ©gmeyªP:I …………………………………………………………. 426.2 DZeb[jh\dZdhg_qgh]hagZq_gby\uoh^gh]hkb]gZeZP:IdZeb[jh\dZ©gZdehgZªP:I …………………………………………………….

43DZeb[jh\dZGIB………………………………………………………………………….. 44DZeb[jh\dZ^bZiZahgZbaf_j_gbc…………………………………………………. 46DZeb[jh\dZ^Zlqbdh\>B< …………………………………………………………… 487 AZsblZgZkljh_diZjZf_ljh\^ZlqbdZhlg_kZgdpbhgbjh\Zggh]hbaf_g_gby . 52J_`bfbaf_j_gby ………………………………………………………………………………. 55Ijbf_jugZkljhcdbbdZeb[jh\db^Zlqbdh\ ………………………………………. 56IJBEH@?GB?: …………………………………………………………………………………

61IJBEH@?GB?;…………………………………………………………………………………. 644<^Zgghf^hdmf_gl_ijb\_^_gZbgnhjfZpbyhih^]hlh\d_dwdkiemZlZpbbj_`bfZo jZ[hlu ^ZlqbdZ k dh^hf we_dljhggh]h ij_h[jZah\Zl_ey FI FI ijbwdkiemZlZpbb[ehdko_fZhi_jZpbc\uihegy_fuoijbjZ[hl_k^ZlqbdhfMkeh\gu_h[hagZq_gbyPmax −fZdkbfZevguc\_jogbcij_^_ebaf_j_gbcJ\ −\_jogbcij_^_ebaf_j_gbcJg −gb`gbcij_^_ebaf_j_gbcdP − ^bZiZahgbaf_j_gbc ^Z\e_gby hl Jg ^h J\ ^ey \k_o ^Zlqbdh\ djhf_>B<>ey^Zlqbdh\>B<^bZiZahgbaf_j_gbcdP = P\(-) + P\ ,]^_P\(-) −\_jogbcij_^_ebaf_j_gbc\h[eZklbjZaj_`_gbyP\ −\_jogbcij_^_ebaf_j_gbc\h[eZklbba[ulhqgh]h^Z\e_gby>ey\k_o^Zlqbdh\djhf_>B<ijbJg ^bZiZahgbaf_j_gbcdP = P\.<gbfZgb_>Zlqbdbkdh^hfFIFIfh]mlihklZ\eylvkykmkh\_jr_gkl\h\ZggufZe]hjblfhf gZkljhcdb b dZeb[jh\db iZjZf_ljh\ dhlhjuc jZkrbjy_l nmgdpbhgZevgu_\hafh`ghklb^Zlqbdh\?keb ijb ijhkfhlj_ j_`bfh\ gZkljh_d gZ ^bkie__ bg^bdZlhjZ hlh[jZ`Z_lkykbf\hemklZgh\dZkf_s_ggh]hgZqZevgh]hagZq_gby\uoh^gh]h••kb]gZeZ lhijb jZ[hl_ k ^Zlqbdhf jmdh\h^kl\mcl_kv jZa^_eZfb ± b ijbeh`_gb_f : Ijb hlkmlkl\bb \ur_mdZaZggh]h kbf\heZ bg^bdZpbb \uihegycl_gZkljhcdmbdZeb[jh\dm^ZlqbdZ\khhl\_lkl\bbkjZa^_eZfb±bijbeh`_gb_f;51 DhgljhevgZkljhcdbiZjZf_ljh\^ZlqbdZ>ey ih^]hlh\db ^ZlqbdZ d wdkiemZlZpbb hk\h[h^bl_ ^hklmi d dghihqgufi_j_dexqZl_eyfhl\_jgm\djurdmwe_dljhggh]hij_h[jZah\Zl_ey>ey^Zlqbdh\kdh^hfFIih^dexqbl_\bedm\ughkgh]hbg^bdZlhjgh]hmkljhckl\Z<Bdjha_ld_gZdh`mo_we_dljhggh]hij_h[jZah\Zl_eyHi_jZpbydhgljheyg_hdZau\Z_l\ebygbygZ\uoh^ghckb]gZe^ZlqbdZI_j_q_gv dhgljhebjm_fuo iZjZf_ljh\ ^ZlqbdZ j_`bfh\ gZkljh_d b kbf\heh\hlh[jZ`Z_fuogZ^bkie__bg^bdZlhjZmdZaZg\lZ[ebp_<u[hjdhgljhebjm_fh]h iZjZf_ljZ hkms_kl\eycl_ ihke_^h\Zl_evguf gZ`Zlb_f dghidb ijbi_j\hfgZ`Zlbbkm^_j`Zgb_f\gZ`Zlhfkhklhygbbg_f_g__k_dmg^ijbwlhfgZ^bkie__bg^bdZlhjZhlh[jZ`Zxlkykhhl\_lkl\mxsb_pbnjh\u_agZq_gbymklZgh\e_gguo dhgljhebjm_fuo iZjZf_ljh\ beb kbf\heh\ j_`bfh\ gZkljh_dlZ[ebpu khojZgy_fu_ \ l_q_gb_ k_dmg^ _keb g_ ijhba\h^blky ke_^mxs__gZ`Zlb_dghidb<uoh^baj_`bfZdhgljheygZkljh_diZjZf_ljh\^ZlqbdZijhbkoh^blZ\lhfZlbq_kdbq_j_ak_dmg^hlihke_^g_]hgZ`ZlbydghidbF_jpZgb_kbf\heh\bg^bdZlhjZbj_`bfh\lZ[ebpukb]gZebabjmxlhkhklhygbb\oh`^_gby\j_`bfbaf_g_gbyiZjZf_ljh\gZkljhcdbGh\uc pbde dhgljhey gZkljh_d iZjZf_ljh\ ^ZlqbdZ \k_]^Z gZqbgZ_lky kdhgljheyj_`bfZ\lZ[ebp_dZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ:\lhfZlbq_kdZydZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZ>ZggZyhi_jZpby\uihegy_lkyijb^Z\e_gbbgZ\oh^_\^ZlqbdjZ\ghfgmex:\lhfZlbq_kdZy dZeb[jh\dZ gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ ^ZlqbdZh[_ki_qb\Z_llhqghklvdZeb[jh\db\ij_^_eZoγ.6Hi_jZpby Z\lhfZlbq_kdhc dZeb[jh\db fh`_l [ulv hkms_kl\e_gZ ^\mfykihkh[ZfbIjbi_j\hfkihkh[_bkihevam_lky\g_rgyydghidZgZdhjimk_we_dljhggh]hij_h[jZah\Zl_ey>eydZeb[jh\dbgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ ^ZlqbdZgZ`fbl_dghidmbm^_j`b\Zcl___\l_q_gb_g_f_g__k_dmg^Ijbf_qZgb_ ± Hi_jZpby Z\lhfZlbq_kdhc dZeb[jh\db ©gmeyª \g_rg_cdghidhc\uihegy_lkylhevdh\^ZlqbdZoF_ljZgbkiheg_gby:KF_ljZgbF_ljZgIjb\lhjhfkihkh[_bkihevamxlkydghidbgZebp_\hciZg_ebwe_dljhggh]h[ehdZDZeb[jh\dm gme_\h]h agZq_gby \uoh^gh]h kb]gZeZ ^ZlqbdZ ijh\h^bl_ \ke_^mxs_cihke_^h\Zl_evghklb- gZ`fbl_gZdghidmbm^_j`b\Zcl___g_f_g__k_dmg^IjbwlhfgZ^bkie__ bg^bdZlhjZ ihy\blky f_jpZxs__ agZq_gb_ ^Z\e_gby \ mklZgh\e_gguoijbgZkljhcd__^bgbpZobaf_j_gbybeb\ijhp_glZohl^bZiZahgZbaf_j_gbcdJj_`bflZ[ebpuF_jpZgb_bg^bdZpbbi_jbh^bq_kdh_\dexq_gb_b\udexq_gb_kqZklhlhchdheh=phagZqZ_l\oh`^_gb_\j_`bfbaf_g_gbyiZjZf_ljh\gZkljhcdb- ^ey dZeb[jh\db gme_\h]h agZq_gby \uoh^gh]h kb]gZeZ g_h[oh^bfh ^hbkl_q_gby k_dmg^ gZ`Zlv dghidm F_jpZgb_ bg^bdZlhjZ ij_djZsZ_lky bijhbkoh^bli_j_oh^\j_`bfbaf_j_gby^Z\e_gbyWlhmdZau\Z_lgZlhqlhijhbahreh Z\lhfZlbq_kdh_ ©h[gme_gb_ª :PI b \uiheg_gZ dZeb[jh\dZ gme_\h]hagZq_gby\uoh^gh]hkb]gZeZihijh]jZff_^ZlqbdZGZ^bkie__hlh[jZablkyagZq_gb_ baf_jy_fh]h ^Z\e_gby khhl\_lkl\mxs_]h gmex \hafh`gu dhe_[Zgby \feZ^r_fjZajy^_bg^bdZlhjZijbfZeuo^bZiZahgZobaf_j_gbcIjbf_qZgb_−Ihy\e_gb_kbf\heZihke_gZ`Zlbydghidbbeb\g_rg_c dghidb hagZqZ_l qlh \ ^Zlqbd_ mklZgh\e_g kf_s_gguc ^bZiZahg baf_j_gbcbebbaf_j_ggh_^Z\e_gb_\uoh^blaZ]jZgbpu• ±5%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,25Jmax≤dP≤Pmax;7• ±10%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,1Jmax≤dP<0,25Pmax;• ±25%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,04Jmax≤dP<0,1Pmax,• ijb wlhf Z\lhfZlbq_kdZy dZeb[jh\dZ gZqZevgh]h agZq_gby \uoh^gh]hkb]gZeZ\j_`bf_iaZij_s_gZijh]jZffhc^ZlqbdZbfh`_l[ulv\uiheg_gZ lhevdh \ j_`bf_ baf_g_gby gZkljh_d iZjZf_ljh\ ^ZlqbdZ mklZgh\dZkf_s_ggh]hgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZibebdZeb[jh\dZ©gmeyª:PIi8LZ[ebpZ−J_`bfugZkljh_dbkbf\heubg^bdZpbbiZjZf_ljh\Ghf_jj_`bfZgZkljhcdbGZbf_gh\Zgb_j_`bfZgZkljhcdbKbf\heugZPB1:\lhfZlbq_kdZydZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZ****2?^bgbpubaf_j_gbybebijhp_gluhl^bZiZahgZbaf_j_gbc3>bZiZahgbaf_j_gbcdP)4<u[hj\j_f_gbmklZgh\e_gby^_finbjh\Zgby\uoh^gh]hkb]gZeZ5MklZgh\dZkf_s_ggh]hgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ©kf_s_ggucghevªhldPbeb<IBFIZdIZIZd]kkf2d]kf2****kc;0,8c; 1,6c;3,2c; 6,4c;12,8c; 25,6c¸Š˜78DZeb[jh\dZFI>><j_fy mklZgh\e_gbyk ©f_jpZgb_fª ^bkie_y«IZkdZevgZyª kbkl_fZ _^bgbp baf_j_gbykbf\heu _^bgbpbaf_j_gby- hl dP beb<IB;- FIZ- dIZ- IZ©Dbeh]jZffh\Zyªkbkl_fZ _^bgbp baf_j_gbykbf\heu_^bgbpbaf_j_gby- hl dP beb<IB;- d]kkf2;- d]kf2<u[hjkbkl_fu_^bgbpbaf_j_gbyDhgljhev\u[jZgghcoZjZdl_jbklbdb\uoh^gh]hkb]gZeZ(ijyfZyebg_cgZydhjg_ba\e_dZxsZybg\_jkgZyebg_cgZyBaf_jy_fh_^Z\e_gb_k ©f_jpZgb_fª ^bkie_y?^bgbpu baf_j_gbyk ©f_jpZgb_fª ^bkie_y>bZiZahg baf_j_gbc\mklZgh\e_gguo_^bgbpZo••kI:6Ijbf_qZgby-42-, -05-, -02-, -, -24, -50, -20-$»-Ijbf_qZgb_ – FI>>±fbdjhijhp_kkhjguc^Zlqbd^Z\e_gbyPB±pbnjh\hcbg^bdZlhjjZajy^Z<IB±\_jogbcij_^_ebaf_j_gbc9kb]gZef:kb]gZef:kb]gZef:Bg^bdZpbx j_`bfh\dZeb[jh\db \ lZ[ebpZoLZ[ebpZ−Kbf\heubg^bdZpbbj_`bfh\dZeb[jh\db^ey\k_o^Zlqbdh\djhf_>B<Ghf_jj_`bfZdZeb[jh\dbGZbf_gh\Zgb_j_`bfZdZeb[jh\db1DZeb[jh\dZ©gmeyªP:I2DZeb[jh\dZ©gZdehgZªP:IKbf\heugZPB@•µ -Ijbf_qZgby>eykb]gZeZf:@•µ>eykb]gZeZf:bf:>eykb]gZeZf:bf:@•µ>eykb]gZeZf:@••µDZeb[jh\dZ©gmeyª:PI••DZeb[jh\dZ^bZiZahgZbaf_j_4d1gbcIjbf_qZgb_±P:I±pbnjhZgZeh]h\ucij_h[jZah\Zl_ev:PI±ZgZeh]hpbnjh\hcij_h[jZah\Zl_ev3LZ[ebpZ−Kbf\heubg^bdZpbbj_`bfh\dZeb[jh\db^ey^Zlqbdh\>B<Ghf_jj_`bfZdZeb[jh\dbGZbf_gh\Zgb_j_`bfZdZeb[jh\db1DZeb[jh\dZ©gmeyªP:I2DZeb[jh\dZ©gZdehgZªP:IKbf\heugZPB@•µ@••µ@•µ@•µDZeb[jh\dZ\_jog_]hij_^_eZ@jd1@baf_j_gbyjZaj_`_gbyJ\(-)DZeb[jh\dZ\_jog_]hij_^_eZ@jbaf_j_gbyba[ulhqgh]h^Z\e_gby4d1@J\Ijbf_qZgb_±P:I±pbnjhZgZeh]h\ucij_h[jZah\Zl_ev310Ijbf_qZgby>eykb]gZeZf:>eykb]gZeZf:bf:>eykb]gZeZf:bf:>eykb]gZeZf:22d]kfd]kkfdIZFIZihe_kbf\heh\_^bgbpbaf_j_gbybgnhjfZpbhggh_ihe_jZajy^ZJbkmghdIhe_^bkie_y@DBGZkljhcdZ_^bgbpbaf_j_gbybebijhp_glh\hl^bZiZahgZ^ZlqbdZHi_jZpbxgZkljhcdbhkms_kl\eycl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbb_^bgbp baf_j_gby j_`bf lZ[ebpu GZ ^bkie__ hlh[jZablky f_jpZxsbcjZg__ mklZgh\e_gguc kbf\he _^bgbp baf_j_gby ihe_ ih^ agZq_gb_ ^Z\e_gbyhqbs_ghjbkmghd- baf_g_gb__^bgbpbaf_j_gbymklZgh\e_gguojZg__fh`ghijhba\_klbihke_^h\Zl_evguf gZ`Zlb_f dghidb ^h \u[hjZ gm`guo _^bgbp baf_j_gbyI_j_oh^baj_`bfZgZkljhcdb\j_`bfbaf_j_gbckkhojZg_gb_fihke_^g_cgZkljhcdb ijhbkoh^bl Z\lhfZlbq_kdb q_j_a k_dmg^ hl ihke_^g_]h gZ`Zlbydghidb Ijb gZ`Zlbb dghidb ijhbkoh^bl i_j_oh^ \ j_`bf gZkljhcdbke_^mxs_]hiZjZf_ljZGZkljhcdZ\j_f_gbmklZgh\e_gby\uoh^gh]hkb]gZeZHi_jZpbxgZkljhcdb\j_f_gbmklZgh\e_gby\uoh^gh]hkb]gZeZijh\h^bl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evgh gZ`bfZcl_ dghidm ^h ihy\e_gby f_jpZxs_]h mklZgh\e_ggh]hjZg__agZq_gby\j_f_gb\k_dmg^Zoj_`bflZ[ebpuihe_gZ^bkie__^eykbf\heh\_^bgbpbaf_j_gbyhqbs_ghjbkmghd11- baf_g_gb_ agZq_gby \j_f_gb mklZgh\e_gby \uoh^gh]h kb]gZeZ fh`ghijhba\_klb ihke_^h\Zl_evguf gZ`Zlb_f dghidb ^h mklZgh\e_gby gm`gh]hagZq_gbyIjbwlhfdZ`^h_ihke_^mxs__gZ`Zlb_dghidbm\_ebqb\Z_l\j_fymklZgh\e_gby\jZaZ\ij_^_eZohl^hk_dmg^k^Zevg_crbfih\lhj_gb_fpbdeZI_j_oh^baj_`bfZdhgljheygZkljh_d\j_f_gbmklZgh\e_gby\j_`bf_baf_j_gbykkhojZg_gb_fihke_^g_cgZkljhcdbijhbkoh^blZ\lhfZlbq_kdbq_j_ak_dmg^hlihke_^g_]hgZ`ZlbydghidbIjbgZ`Zlbbdghidbijhbkoh^bli_j_oh^\j_`bfgZkljhcdbke_^mxs_]hiZjZf_ljZGZkljhcdZ^bZiZahgZbaf_j_gbc<gbfZgb_ <k_ ihke_^mxsb_ hi_jZpbb gZkljh_d ij_^iheZ]Zxl kgylb_aZsbluhlg_kZgdpbhgbjh\Zggh]h^hklmiZdgZkljZb\Z_fufiZjZf_ljZf^ZlqbdZ l_ jZkiehf[bjh\Zgb_ dghidb h[_ki_qb\Zxs_c \uiheg_gb_ hi_jZpbci_j_gZkljhcdb JZkiehf[bjh\Zgb_ dghidb g_ kgbfZ_l ]ZjZglbcguo h[yaZl_evkl\ij_^ijbylbyba]hlh\bl_eygZ^Zlqbdb^Z\e_gbyIhke_ijh\_jdbgZkljh_d\kemqZ_g_h[oh^bfhklbaZsblumklZgh\e_gguoiZjZf_ljh\hlg_kZgdpbhgbjh\Zggh]hbobaf_g_gbyij_^ijbylb_ihlj_[bl_evfh`_lhiehf[bjh\ZlvdghidmHi_jZpbxgZkljhcdb^bZiZahgZbaf_j_gbcijh\h^bl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbb^bZiZahgZbaf_j_gbcj_`bflZ[ebpuGZ^bkie__hlh[jZablkyl_dms__agZq_gb_^bZiZahgZbaf_j_gbc\mklZgh\e_gguo_^bgbpZo- \ kemqZ_ g_h[oh^bfhklbbaf_g_gby ^bZiZahgZ baf_j_gbc ^h bkl_q_gby k_dmg^ gZ`fbl_ gZ dghidm \hc^bl_ \ j_`bf baf_g_gby gZkljh_d ijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_^bZiZahgZbaf_j_gbc- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ g_h[oh^bfh_ agZq_gb_klZg^Zjlgh]h^bZiZahgZbaf_j_gbcbebagZdhf_klhpbnjug_klZg^Zjlgh]h^bZiZahgZ baf_j_gbc Baf_g_gb_ \u[jZgghc pbnju hl ^h g_klZg^Zjlgh]h12^bZiZahgZbaf_j_gbcijh\h^blkydjZldh\j_f_ggufgZ`Zlb_fdghidbIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- ih\lhjgufgZ`Zlb_fgZdghidmijhba\_^bl_aZibkv\u[jZgghcgZkljhcdbiZjZf_ljZb \uoh^ba j_`bfZ gZkljh_d Ijb wlhf ©f_jpZgb_ª bg^bdZpbbij_djZsZ_lkybgZbg^bdZlhj_hlh[jZ`Z_lkymklZgh\e_ggh_agZq_gb_^bZiZahgZbaf_j_gbcIhbkl_q_gbbk_dmg^^ZlqbdZ\lhfZlbq_kdbi_j_oh^bl\j_`bfbaf_j_gby- \kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\ke_^mxsbcj_`bfbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgby>eybaf_g_gbyiheh`_gbyaZiylhc\agZq_gbbg_klZg^Zjlgh]h^bZiZahgZbaf_j_gbcg_h[oh^bfhmklZgh\blvklZg^Zjlguc^bZiZahgkh^_j`ZsbcaZiylmx\lj_[m_fhff_kl_baZl_fmklZgh\blvg_h[oh^bfucg_klZg^Zjlguc^bZiZahg GZkljhcdZ gZ g_klZg^Zjlguc ^bZiZahg \hafh`gZ ^ey \k_o ^Zlqbdh\djhf_>B< Ihke_ gZkljhcdb i_j_gZkljhcdb ^bZiZahgZ baf_j_gbc ijhdhgljhebjmcl_agZq_gb_\uoh^gh]hkb]gZeZbijb g_h[oh^bfhklb \uihegbl_ dZeb[jh\dm:PIihii<u[hjkbkl_fu_^bgbpbaf_j_gbyHi_jZpbyhkms_kl\ey_lky\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbbkbkl_fu_^bgbpbaf_j_gbyj_`bflZ[ebpuGZ^bkie__hlh[jZaylkykbf\heumklZgh\e_gghckbkl_fu_^bgbp ¸–‡ beb ¸Š˜ ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- \kemqZ_g_h[oh^bfhklbbaf_g_gbykbkl_fu_^bgbpbaf_j_gby^hbkl_q_gbyk_dmg^gZ`fbl_gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\ylkyf_jpZxsb_agZq_gbykbf\heh\13- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ g_h[oh^bfmx kbkl_fm_^bgbpbaf_j_gbyIjbf_qZgb_−>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ`Zlb_f gZ dghidm hkms_kl\ey_lky aZibkv \u[jZgghc gZkljhcdbiZjZf_ljZ b \uoh^ ba j_`bfZ gZkljh_d Ijb wlhf ©f_jpZgb_ª bg^bdZpbb ij_djZsZ_lkybgZbg^bdZlhj_hlh[jZ`Z_lkymklZgh\e_ggh_agZq_gb_kbkl_fu_^bgbp baf_j_gby ?keb kbkl_fZ _^bgbp baf_gbeZkv lh g_aZ\bkbfh hl jZg__ \u[jZgguo_^bgbpbaf_j_gby\^Zlqbd_Z\lhfZlbq_kdb\u[bjZxlky^eybg^bdZpbbijhp_gluhl^bZiZahgZbaf_j_gbcIhbkl_q_gbbk_dmg^^ZlqbdZ\lhfZlbq_kdbi_j_oh^bl\j_`bfbaf_j_gby- \kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\ke_^mxsbcj_`bfbg^bdZpbbiZjZf_ljh\gZkljhcdb- \ kemqZ_ g_h[oh^bfhklb baf_gblv _^bgbpu baf_j_gby ijh\_klb gZkljhcdm^ZlqbdZihi <u[hj ijyfhc ebg_cghc dhjg_ba\e_dZxs_c beb bg\_jkghcebg_cghcoZjZdl_jbklbdbHi_jZpbyhkms_kl\ey_lky\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evgufgZ`Zlb_fdghidb^hbkl_q_gbyk_dmg^mklZgh\bl_j_`bflZ[ebpuIjbwlhfgZ^bkie__hlh[jZaylkykbf\heumklZgh\e_gghcoZjZdl_jbklbdbijyfZyebg_cgZydhjg_ba\e_dZxsZybebbg\_jkgZyebg_cgZy GZijbf_j i ± beb ii , i•i ± beb i•i , i •i ,±beb i•i \aZ\bkbfhklbhllbiZ\uoh^gh]hkb]gZeZ^ZlqbdZbebf:- \kemqZ_g_h[oh^bfhklbbaf_g_gbyoZjZdl_jbklbdb^hbkl_q_gbyk_dmg^gZ`fbl_gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_oZjZdl_jbklbdbIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ`bfZy gZ dghidm \u[_jbl_ gm`gmx oZjZdl_jbklbdm \uoh^gh]h14kb]gZeZ- \uoh^baj_`bfZ\u[hjZoZjZdl_jbklbdbkkhojZg_gb_fmklZgh\e_gghcgZkljhcdbijhba\h^bl_ih\lhjgufgZ`Zlb_fdghidbijbwlhff_jpZgb_bg^bdZlhjZij_djZsZ_lky<uoh^baj_`bfZ\u[hjZoZjZdl_jbklbdbijhbkoh^blihbkl_q_gbb k_dmg^ i_j_oh^hf ^ZlqbdZ \ j_`bf baf_j_gby beb ih gZ`Zlbxdghidb^hbkl_q_gbyk_dmg^ki_j_oh^hf\j_`bflZ[ebpuIjbf_qZgb_ ± JZkq_lgu_ agZq_gby \uoh^gh]h kb]gZe ^ey ^Zlqbdh\ knmgdpb_c ij_h[jZah\Zgby \oh^ghc baf_jy_fhc \_ebqbgu ih aZdhgm d\Z^jZlgh]hdhjgyhij_^_ey_lkyihnhjfme_I = I g + (I \ − I g )⋅J,J\(1)]^_J±\oh^gZybaf_jy_fZy\_ebqbgZJ\±\_jogbcij_^_ebaf_j_gbc,±l_dms__agZq_gb_\uoh^gh]hkb]gZeZI\, Ig±khhl\_lkl\_ggh\_jog__bgb`g__ij_^_evgu_agZq_gby\uoh^gh]h kb]gZeZ ^ZlqbdZ ^ey ^Zlqbdh\ k \uoh^guf kb]gZehf f: ± Ig f:I\ f: ^ey ^Zlqbdh\ k \uoh^guf kb]gZehf f: ± Ig f: I\ f: ^ey^Zlqbdh\ k \uoh^guf kb]gZehf f: ± Ig f: I\ f: ijb wlhf gZ gZqZevghf mqZkld_ oZjZdl_jbklbdb ijb agZq_gbyo ^Z\e_gby J≤J\ ^himkdZ_lky ebg_cgZy aZ\bkbfhklv JZkq_lgu_ agZq_gby \uoh^gh]h kb]gZeZ gZ wlhfmqZkld_hij_^_eyxlkyihnhjfme_I = I g + 7 ⋅ (I \ − I g )⋅J.J\]^_JJ\, I, I\, Ig±lh`_qlh\nhjfme_15(2) MklZgh\dZ kf_s_ggh]h gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ©kf_s_ggucghevªdjhf_^Zlqbdh\>B<Hi_jZpbyhkms_kl\ey_lky\ke_^mxs_cihke_^h\Zl_evghklb- i_j_^\uiheg_gb_fhi_jZpbcmklZgh\bl_gZkljhcdb^ZlqbdZ\khhl\_lkl\bbkiibijh\_^bl_dZeb[jh\dm©gmeyª:PIihi- ihke_^h\Zl_evgufgZ`Zlb_fdghidbmklZgh\bl_j_`bflZ[ebpu±bg^bdZpbbkf_s_ggh]hgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZIjbwlhfgZ^bkie__hlh[jZablkykbf\he •i• ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- ^ey \oh`^_gby \ j_`bf baf_g_gby gZkljhcdb ^h bkl_q_gby k_dmg^gZ`fbl_ dghidm ijb wlhf gZ ^bkie__ bg^bdZlhjZ hlh[jZablky f_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby\mklZgh\e_gguo_^bgbpZoIjbf_qZgb_−>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- ih^Zcl_ ^Z\e_gb_ Jg \ ^Zlqbd dhlhjh_ \ ^Zevg_cr_f [m^_l kqblZlvkygme_\hclhqdhchlkq_lZ>himkdZ_lkyaZ^Z\Zlv^Z\e_gb_dZeb[jZlhjhfeb[hj_ZevghcgZ]jmadhcgZh[t_dl_Ijbwlhfg_h[oh^bfhkh[ex^Zlvke_^mxsb_mkeh\bygZqZevgh_agZq_gb_\uoh^gh]hkb]gZeZ mklZgZ\eb\Zlv ijb agZq_gbb ^Z\e_gbyJghl^hPmax — dP (dP −mklZgh\e_gguc\^ZgghfkemqZ_^bZiZahgbaf_j_gbcJg + dP ≤ Pmax;- ^ey mklZgh\db kf_s_ggh]h ^bZiZahgZ baf_j_gbc dP k mklZgh\dhc gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ gZ Jg gZ`fbl_ dghidm GZ ^bkie__hlh[jZablkyf_jpZxs__agZq_gb_baf_jy_fh]h ^Z\e_gby khhl\_lkl\mxs_]h gmex\hafh`gudhe_[Zgby\feZ^r_fjZajy^_bg^bdZlhjZijbfZeuo^bZiZahgZobaf_j_gbcIjbf_qZgb_ −DZeb[jh\dZgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZh[_ki_qb\Z_llhqghklvdZeb[jh\db\ij_^_eZoγ;- gZ`Zlb_f gZ dghidm hkms_kl\ey_lky aZibkv \u[jZgghc gZkljhcdbiZjZf_ljZ^ZlqbdZb\uoh^baj_`bfZgZkljh_dIjbwlhfhlh[jZ`Z_lkykbf\hebg^bdZpbb • i • ihe_ kbf\heh\ _^bgbp baf_j_gby hqbs_gh Ih bkl_q_gbbk_dmg^^ZlqbdZ\lhfZlbq_kdbi_j_oh^bl\j_`bfbaf_j_gby<kemqZ_gZ`Z-16lby gZ dghidm ^h bkl_q_gby k_dmg^ ijhbkoh^bl i_j_\h^ ^ZlqbdZ \ ke_^mxsbcj_`bfbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_ −I_j_oh^bakf_s_ggh]h©gmeyªdmklZgh\d_gZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZijbPg \uihegy_lkyijbdZeb[jh\d_gmeyihi17DZeb[jh\dZ^ZlqbdZIjbf_qZgb_ − DZeb[jh\dZ ^ZlqbdZ − mklZgh\e_gb_ lhqgh]h khhl\_lkl\by ijb ihfhsb h[jZaph\uo kj_^kl\ ih\_jdb gZqZevgh]h agZq_gby \uoh^gh]hkb]gZeZ^ZlqbdZgb`g_fmij_^_embaf_j_gbcJgbeb^ey^Zlqbdh\>B<\_jog_fm ij_^_em baf_j_gbc jZaj_`_gby J\(-) b khhl\_lkl\b_ dhg_qgh]h agZq_gby \uoh^gh]hkb]gZeZ^ZlqbdZ\_jog_fmij_^_embaf_j_gbcJ\beb^ey^Zlqbdh\>B<\_jog_fmij_^_embaf_j_gbcba[ulhqgh]h^Z\e_gbyJ\.<ijhp_kk_ wdkiemZlZpbb ^ZlqbdZ ih f_j_ g_h[oh^bfhklb gZijbf_j ijbijh\_^_gbbi_jbh^bq_kdhcih\_jdbke_^m_lijh\h^blvdZeb[jh\dm\khhl\_lkl\bbk^ZggufjZa^_ehfI_j_^ \uiheg_gb_f hi_jZpbc mklZgh\bl_ gZkljhcdb ^ZlqbdZ \ khhl\_lkl\bbkii>ey dZeb[jh\db ^ZlqbdZ kh[jZlv ko_fm k ih^dexq_gb_f h[jZaph\uokj_^kl\ aZ^Zgby ^Z\e_gby b dhgljhey \uoh^gh]h ZgZeh]h\h]h kb]gZeZ ihFBIh]j_rghklvdZeb[jh\db\lhqd_hij_^_ey_fZykmffZjghcih]j_rghklvxijbf_gy_fuo h[jZaph\uo kj_^kl\ g_ ^he`gZ ij_\urZlv ih]j_rghklb ^ZlqbdZ DZeb[jh\dZ gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ P:IdZeb[jh\dZ©gmeyªP:IHi_jZpbyhkms_kl\ey_lky\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf − dZeb[jh\dZFI>>IjbwlhfgZ^bkie__hlh[jZablkykbf\he $»- ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- ^ey \oh`^_gby \ j_`bf baf_g_gby gZkljhcdb ^h bkl_q_gby k_dmg^gZ`fbl_ dghidm − mklZgh\blky j_`bf dZeb[jh\dZ ©gmeyª P:I gZ ^bkie__hlh[jZaylkykbf\heugZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ •µ beb @••µ@ \18aZ\bkbfhklbhlbkiheg_gbybebf:^ZlqbdZgZh[jZaph\hfijb[hj_mklZgh\blkyagZq_gb_\uoh^gh]hkb]gZeZ[ebadh_dbebf:- \ kemqZ_ g_h[oh^bfhklb dhjj_dlbjh\db \uoh^gh]h lhdZ ^ZlqbdZ dhgljhebjm_fh]h ih h[jZaph\hfm ijb[hjm ^h bkl_q_gby k_dmg^ gZ`fbl_ gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\ylkyf_jpZxsb_agZq_gbykbf\heh\- lhqgmx dZeb[jh\dm ©gmeyª P:I \uihegycl_ ijb ihfhsb dghidb mf_gvr_gb_kb]gZeZbdghidbm\_ebq_gb_kb]gZeZGZ`bfZydghidmb\ijhba\hevghfihjy^d_mklZgh\bl_lj_[m_fh_gZqZevgh_agZq_gb_\uoh^gh]hkb]gZeZgZijbf_jf:^ey\uoh^gh]hkb]gZeZbebf:^ey\uoh^gh]hkb]gZeZf:ihdhgljhevghfmh[jZaph\hfmijb[hjmgZ\uoh^_^ZlqbdZIjbf_qZgb_−>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- \uoh^baj_`bfZdZeb[jh\dbgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZkkhojZg_gb_fmklZgh\e_gghcgZkljhcdbijhba\h^bl_ih\lhjgufgZ`Zlb_fdghidbijbwlhfijh]jZffZ^ZlqbdZZ\lhfZlbq_kdb\uihegy_li_j_oh^\j_`bfbg^bdZpbbdZeb[jh\db©gZdehgZªP:I<uoh^baj_`bfZdZeb[jh\dbbi_j_oh^\j_`bfbaf_j_gby^Z\e_gbyijhbkoh^blZ\lhfZlbq_kdbihbkl_q_gbbk_dmg^<kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\j_`bfke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_ − Ijb dZeb[jh\d_©gmeyª P:I ]ZjZglbjm_lky gZkljhcdZ g_om`_hl^bZiZahgZbaf_g_gby\uoh^gh]hkb]gZeZ2.2 DZeb[jh\dZ dhg_qgh]h agZq_gby \uoh^gh]h kb]gZeZ P:IdZeb[jh\dZ©gZdehgZªP:IHi_jZpbyhkms_kl\ey_lky\ke_^mxs_cihke_^h\Zl_evghklb- \oh^\j_`bfdZeb[jh\db©gZdehgZªP:Ikhijh\h`^Z_lkybg^bdZpb_ckbf\heh\dhg_qgh]hagZq_gby\uoh^gh]hkb]gZeZ @•µ beb @•µ \aZ\bkbfhklbhlbkiheg_gbybebf:^ZlqbdZgZh[jZaph\hfijb[hj_mklZ-19gh\blkyagZq_gb_\uoh^gh]hkb]gZeZ[ebadh_dbebf:- \ kemqZ_ g_h[oh^bfhklb dhjj_dlbjh\db \uoh^gh]h lhdZ ^ZlqbdZ dhgljhebjm_fh]h ih h[jZaph\hfm ijb[hjm ^h bkl_q_gby k_dmg^ gZ`fbl_ gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\ylkyf_jpZxsb_agZq_gbykbf\heh\- lhqgmxdhjj_dlbjh\dm©gZdehgZªP:I\uihegycl_ijbihfhsbdghidb mf_gvr_gb_ kb]gZeZ b dghidb m\_ebq_gb_ kb]gZeZ GZ`bfZy dghidbb\ijhba\hevghfihjy^d_mklZgh\bl_lj_[m_fh_dhg_qgh_agZq_gb_\uoh^gh]h kb]gZeZ gZijbf_j f: ^ey \uoh^gh]h kb]gZeZ beb f:^ey\uoh^gh]hkb]gZeZf:ihdhgljhevghfmh[jZaph\hfmijb[hjmgZ\uoh^_^ZlqbdZIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- \uoh^baj_`bfZdZeb[jh\dbdhg_qgh]hagZq_gby\uoh^gh]hkb]gZeZkkhojZg_gb_fmklZgh\e_gghcgZkljhcdbijhba\h^bl_ih\lhjgufgZ`Zlb_fdghidbijbwlhfijh]jZffZ^ZlqbdZZ\lhfZlbq_kdb\uihegy_li_j_oh^\j_`bfbg^bdZpbbdZeb[jh\dZ©gmeyªP:IIhbkl_q_gbbk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\j_`bfke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_ − Ijb dZeb[jh\d_ ©gZdehgZª P:I ]ZjZglbjm_lky lhqghklvgZkljhcdbg_om`_hl^bZiZahgZbaf_g_gby\uoh^gh]hkb]gZeZDZeb[jh\dZ©gmeyª:PI>ZggZyhi_jZpby\uihegy_lkyijb^Z\e_gbbgZ\oh^_\^ZlqbdjZ\ghfgmex- \oh^\j_`bfdhjj_dlbjh\db©gmeyª:PIkhijh\h`^Z_lkybg^bdZpb_ckbf\heh\ i••i ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- \ kemqZ_ g_h[oh^bfhklb dhjj_dlbjh\db ©gmeyª :PI ^h bkl_q_gby k_dmg^ gZ`fbl_ gZ dghidm \hc^bl_ \ j_`bf baf_g_gby gZkljh_d ijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby\mklZ-20gh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ`fbl_dghidmijbwlhfZ\lhfZlbq_kdb\uihegblkyhi_jZpbydZeb[jh\dZ©gmeyª:PI- \uoh^ ba j_`bfZ dZeb[jh\db k khojZg_gb_f mklZgh\e_gghc gZkljhcdbijhba\h^bl_ih\lhjguf gZ`Zlb_f dghidb ijb wlhf ijh]jZffZ ^ZlqbdZ Z\lhfZlbq_kdb\uihegy_l\ha\jZl\j_`bfbg^bdZpbbdZeb[jh\db©gmeyª:PIIhbkl_q_gbbk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_ gZ`ZlbygZdghidm ^h bkl_q_gby k_dmg^ ijhbkoh^bl i_j_\h^ ^ZlqbdZ \ j_`bf ke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbDZeb[jh\dZ^bZiZahgZbaf_j_gbcI_j_^\uiheg_gb_fhi_jZpbcijh\_^bl_dZeb[jh\dm©gmeyª:PIihi- \oh^ \ j_`bf dZeb[jh\db ^bZiZahgZ baf_j_gbc khijh\h`^Z_lky bg^bdZpb_ckbf\heh\ i d1i ;- \ kemqZ_ g_h[oh^bfhklb dhjj_dlbjh\db ^bZiZahgZ baf_j_gbc ^h bkl_q_gbyk_dmg^gZ`fbl_gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ ^bkie__ mklZgh\blky f_jpZxs__ agZq_gb_ baf_jy_fh]h^Z\e_gby \mklZgh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ\oh^^ZlqbdZih^Zcl_wlZehggh_^Z\e_gb_jZ\gh_mklZgh\e_gghfmdP\mklZgh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgb_ ± >ey ^ZlqbdZ F_ljZg fh^_eb k \_jogbf ij_^_ehfbaf_j_gby dIZ dZeb[jh\dm ^bZiZahgZ baf_j_gbc \uihegbl_ ijb ih^Zq_wlZehggh]h ^Z\e_gby jZ\gh]h dIZ dZeb[jh\dm hklZevguo \_jogbo ij_^_eh\baf_j_gbcijh\h^bl_ijbih^Zq_wlZehggh]h^Z\e_gbyjZ\gh]h\_jog_fmij_^_embaf_j_gbc- gZ`fbl_ dghidm ijb wlhf Z\lhfZlbq_kdb \uihegblky hi_jZpbydhjj_dlbjh\db^bZiZahgZbaf_j_gbc21- \uoh^baj_`bfZdZeb[jh\dbkkhojZg_gb_fmklZgh\e_gghcgZkljhcdbijhba\h^bl_ih\lhjguf gZ`Zlb_f dghidb ijb wlhf ijh]jZffZ ^ZlqbdZ Z\lhfZlbq_kdb \uihegy_l \ha\jZl \ j_`bf dZeb[jh\db ^bZiZahgZ baf_j_gbc Ihbkl_q_gbbk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_ gZ`ZlbygZdghidm ^h bkl_q_gby k_dmg^ ijhbkoh^bl i_j_\h^ ^ZlqbdZ \ j_`bf ke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_±Ihy\e_gb_ij_^mij_`^Zxs_]hkbf\heZihke_gZ`ZlbydghidbhagZqZ_lqlh^Z\e_gb_ih^Zggh_\^Zlqbdf_g__hlmklZgh\e_ggh]hdJ>eymkljZg_gbyhrb[dbijbdZeb[jh\d_g_h[oh^bfh\uclbbaj_`bfZ gZ`Zlb_f dghidb ^h bkl_q_gby k_dmg^ b ih\lhjgh ijh\_klbhi_jZpbbihiDZeb[jh\dZ^ZlqbdZ>B<2.5.1Ijh\_^bl_hi_jZpbxkh]eZkghiIhke_^h\Zl_evgufgZ`Zlb_fdghidb^hbkl_q_gby k_dmg^ mklZgh\bl_j_`bf lZ[ebpu − mklZgh\dZ kf_s_ggh]h gZqZevgh]h agZq_gby \uoh^gh]hkb]gZeZIjbwlhfgZ^bkie__bg^bdZlhjZhlh[jZablkykbf\he •i• ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh>ey\oh`^_gby\j_`bfbaf_g_gbygZkljhcdb^hbkl_q_gbyk_dmg^gZ`fbl_dghidmijbwlhfgZ^bkie__bg^bdZlhjZhlh[jZablkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby[ebadh_dgmexIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb>ey dZeb[jh\db gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ ijb ^Z\e_gbbjZ\ghfgmexgZ`fbl_dghidmIjbwlhfgZ^bkie__bg^bdZlhjZhlh[jZablkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gbykhhl\_lkl\mxs_]hgmexIjbf_qZgb_ −DZeb[jh\dZgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZh[_ki_qb\Z_llhqghklvdZeb[jh\db\ij_^_eZoγ.Ih\lhjguf gZ`Zlb_f dghidb hkms_kl\ey_lky aZibkv \u[jZgghc gZkljhcdb\iZfylv^ZlqbdZb\uoh^baj_`bfZgZkljh_dIjbwlhfhlh[jZ`Zxlkykbf\heubg^bdZpbb •i• ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_ghIhbkl_22q_gbbk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\j_`bfke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdb2.5.3Ijh\_^bl_dZeb[jh\dm©gmeyªP:IihibdZeb[jh\dm©gZdehgZªP:IihiDZeb[jh\dZ\_jog_]hij_^_eZbaf_j_gbyjZaj_`_gbyJ\(-):- ihke_^h\Zl_evgufgZ`Zlb_fdghidb^hbkl_q_gbyk_dmg^mklZgh\bl_ j_`bf lZ[ebpu − dZeb[jh\dZ \_jog_]h ij_^_eZ baf_j_gby jZaj_`_gbyJ\(-) <oh^ \ j_`bf dhjj_dlbjh\db J\(-) khijh\h`^Z_lky bg^bdZpb_c kbf\heh\jd1 ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- ^ey dhjj_dlbjh\db \_jog_]h ij_^_eZ baf_j_gbcjZaj_`_gby ^h bkl_q_-gbyk_dmg^gZ`fbl_gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby\mklZgh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ\oh^^ZlqbdZih^Zcl_wlZehggh_^Z\e_gb_jZ\gh_\_jog_fmij_^_embaf_j_gbyjZaj_`_gbyJ\(-)\mklZgh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgby>ey^Zlqbdh\F_ljZgfh^_e_ck\_jogbfij_^_ehfbaf_j_gbc jZaj_`_gby dIZ dZeb[jh\dm \_jog_]h ij_^_eZ baf_j_gbc jZaj_`_gby \uihegycl_ ijb ih^Zq_ wlZehggh]h ^Z\e_gby jZaj_`_gby jZ\gh]hdIZ >ey fh^_eb k \_jogbf ij_^_ehf baf_j_gby jZaj_`_gby f_gvr_ dIZ dZeb[jh\dm \_jog_]h ij_^_eZ jZaj_`_gby \uihegycl_ ijb ih^Zq_ wlZehggh]h^Z\e_gbyjZ\gh]h\_jog_fmij_^_embaf_j_gbyjZaj_`_gby- gZ`fbl_ dghidm ijb wlhf Z\lhfZlbq_kdb \uihegblky hi_jZpbydhjj_dlbjh\db\_jog_]hij_^_eZbaf_j_gbyjZaj_`_gby- \uoh^ ba j_`bfZ dZeb[jh\db k khojZg_gb_f mklZgh\e_gghc gZkljhcdbijhba\h^bl_ ijb ih\lhjghf gZ`Zlbb dghidb ijb wlhf ijh]jZffZ ^ZlqbdZZ\lhfZlbq_kdb\uihegy_l\ha\jZl\j_`bfbg^bdZpbbdZeb[jh\db\_jog_]hij_23^_eZbaf_j_gbyjZaj_`_gby^ZlqbdZIhbkl_q_gbbk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\j_`bfke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_±Ihy\e_gb_ij_^mij_`^Zxs_]hkbf\heZihke_ gZ`Zlby dghidb hagZqZ_l qlh ^Z\e_gb_ ih^Zggh_ \ ^Zlqbd f_g__hlmklZgh\e_ggh]hJ\(-)>eymkljZg_gbyhrb[dbijbdZeb[jh\d_g_h[oh^bfh\uclb ba j_`bfZ gZ`Zlb_f dghidb ^h bkl_q_gby k_dmg^ b ih\lhjghijh\_klbhi_jZpbbihiDZeb[jh\dZ\_jog_]hij_^_eZbaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\:- gZ`fbl_dghidm^hbkl_q_gbyk_dmg^mklZgh\bl_j_`bflZ[ebpu−dZeb[jh\dZ\_jog_]hij_^_eZbaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\<oh^\j_`bfdZeb[jh\db\_jog_]hij_^_eZbaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\khijh\h`^Z_lky bg^bdZpb_c kbf\heh\ — d1 ihe_ kbf\heh\ _^bgbpbaf_j_gbyhqbs_gh- ^eydZeb[jh\dbJ\^hbkl_q_gbyk_dmg^gZ`fbl_gZdghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby\mklZgh\e_gguo_^bgbpZobaf_j_gbyIjbf_qZgb_ −>Zggh_khklhygb_j_`bfZg_h]jZgbq_ghih\j_f_gb- gZ\oh^^ZlqbdZih^Zcl_wlZehggh_^Z\e_gb_jZ\gh_\_jog_fmij_^_embaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\^eymklZgh\e_ggh]h^bZiZahgZbaf_j_gbc- gZ`fbl_dghidm»2″ijbwlhfZ\lhfZlbq_kdb\uihegblkyhi_jZpbydZeb[jh\dbJ\;- \uoh^ ba j_`bfZ dZeb[jh\db k khojZg_gb_f mklZgh\e_gghc gZkljhcdbijhbkoh^blijbih\lhjghfgZ`Zlbbdghidbijbwlhfijh]jZffZ^ZlqbdZZ\lhfZlbq_kdb \uihegy_l \ha\jZl \ j_`bf bg^bdZpbb dhjj_dlbjh\db \_jog_]hij_^_eZbaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\Q_j_ak_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby<kemqZ_gZ`ZlbygZdghidm^hbkl_q_gbyk_dmg^ijhbkoh^bli_j_\h^^ZlqbdZ\j_`bfke_^mxs_cbg^bdZpbbiZjZf_ljh\gZkljhcdbIjbf_qZgb_±Ihy\e_gb_ij_^mij_`^Zxs_]hkbf\heZihke_gZ`ZlbydghidbhagZqZ_lqlh^Z\e_gb_ih^Zggh_\^Zlqbdf_g__hlmk24lZgh\e_ggh]h J\ >ey mkljZg_gby hrb[db ijb dZeb[jh\d_ g_h[oh^bfh \uclb baj_`bfZ gZ`Zlb_f dghidb ^h bkl_q_gby k_dmg^ b ih\lhjgh ijh\_klbhi_jZpbbihi25J_`bfbaf_j_gby3.1GZ^bkie__bg^bdZlhjZ^ZlqbdZbebgZ^bkie__\ughkgh]hbg^bdZlhjZ\j_`bf_baf_j_gby^Z\e_gbyhlh[jZ`Z_lkyZ\_ebqbgZbaf_jy_fh]h^Z\e_gby\pbnjh\hf\b^_\mklZgh\e_gguoijbgZkljhcd__^bgbpZobaf_j_gby\^ZlqbdZo>B<±kmq_lhfagZdZbeb\ijhp_glZohlmklZgh\e_ggh]h^bZiZahgZbaf_j_gbcIj_^_eu hlh[jZ`_gby baf_jy_fh]h^Z\e_gby \ aZ\bkbfhklb hl ghfbgZevghcklZlbq_kdhcoZjZdl_jbklbdb^ZlqbdZmdZaZgu\lZ[ebp_LZ[ebpZGhfbgZevgZyklZlbq_kdZyoZjZdl_jbklbdZ^ZlqbdZ\hajZklZxsZym[u\ZxsZyIj_^_euhlh[jZ`_gbybaf_jy_fh]h^Z\e_gbyhlfbgmkP\^hP\hlfbgmkP\^hP\[bg^bdZpbykbf\heh\gZ^bkie__bg^bdZlhjZ^ZlqbdZbebgZ^bkie__<B\j_`bf_hldZaZbeb\uoh^Zbaf_jy_fh]h^Z\e_gbyaZij_^_eumdZaZggu_\lZ[ebp_khhl\_lkl\m_llZ[ebp_LZ[ebpZKbf\heugZPB–––––Kh^_j`Zgb_j_`bfZBaf_jy_fh_^Z\e_gb_J\\uoh^blaZ\_jogbcij_^_emdZaZgguc\lZ[ebp_I_j_iheg_gb_bg^bdZlhjZ\ke_^kl\b_g_ijZ\bevgh\u[jZgguo_^bgbpbaf_j_gbyŒŒŒHldZaZgZeh]h\hcqZklbŒŒŒHldZapbnjh\hcqZklb66Baf_jy_fh_^Z\e_gb_JgbebP\(-)^ey^Zlqbdh\>B<\uoh^blaZgb`gbcij_^_emdZaZgguc\lZ[ebp_26Ijbf_jugZkljhcdb^Zlqbdh\>ZlqbdjZaghklb^Z\e_gbc k ij_^_eZfb baf_j_gbc dIZ>ZlqbdgZkljh_ggZ\_jogbcij_^_edIZgb`gbcij_^_ebaf_j_gbcjZ\_ggmexkb]gZef:_^bgbpubaf_j_gbydIZZI_j_gZkljhblv^ZlqbdgZ\_jogbcij_^_ebaf_j_gbcdIZHi_jZpbxi_j_gZkljhcdbijh\h^bl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evgufgZ`Zlb_fdghidbmklZgh\bl_j_`bflZ[ebpuGZ bg^bdZlhj_ hlh[jZablky l_dms__ agZq_gb_ ^bZiZahgZ baf_j_gbc \ mklZgh\e_gguo_^bgbpZo ±–§±–§;- gZ`fbl_gZdghidm^hbkl_q_gbyk_dmg^gZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_^bZiZahgZbaf_j_gbcbkbf\heZ ±–§_^bgbpubaf_j_gbyg_f_jpZxl- ihke_^h\Zl_evgufgZ`Zlb_fdghidbmklZgh\bl_agZq_gb_^bZiZahgZbaf_j_gbcdIZgZ^bkie__bg^bdZlhjZhlh[jZablkyagZq_gb_ ±–§;- ih\lhjgufgZ`Zlb_fdghidbhkms_kl\ey_lkyaZibkv\u[jZgghcgZkljhcdb \ iZfylv ^ZlqbdZ b \uoh^ ba j_`bfZ gZkljh_d Ijb wlhf ©f_jpZgb_ªbg^bdZpbbij_djZsZ_lkybgZbg^bdZlhj_hlh[jZ`Z_lkyagZq_gb_mklZgh\e_ggh]h^bZiZahgZbaf_j_gbc ±–§Ihbkl_q_gbx k_dmg^^Zlqbd Z\lhfZlbq_kdbi_j_oh^bl\j_`bfbaf_j_gby- ijh\_^bl_Z\lhfZlbq_kdmxdZeb[jh\dm©gmeyªihiIjbf_qZgb_ − Ijhdhgljhebjmcl_ ihh[jZaph\uf kj_^kl\Zf aZ^Zgby ^Z\e_gby b dhgljhey \uoh^gh]h kb]gZeZ gZqZevgh_ b dhg_qgh_ agZq_gb_ \uoh^gh]hkb]gZeZIjbg_h[oh^bfhklb\uihegbl_dZeb[jh\dm:PIihii[I_j_gZkljhcl_^ZlqbdgZ^bZiZahgbaf_j_gbcdIZkhkf_s_gb_f©gmeyªgZdIZ>eygZkljhcdb^ZlqbdZgZ^bZiZahgbaf_j_gbcdIZbkf_s_gb_f©gmeyªgZ ^Z\e_gb_ dIZ g_h[oh^bfh ijh\_klb hi_jZpbx \ ke_^mxs_c ihke_^h\Zl_evghklb27- mklZgh\bl_ihiZijbf_jZ^bZiZahgbaf_j_gbcdIZgZ^bkie__bg^bdZlhjZ hlh[jZablky agZq_gb_ ±–§, ijh\_^bl_ dZeb[jh\dm ©gmeyª :PI ihi- ihke_^h\Zl_evgufgZ`Zlb_fdghidbmklZgh\bl_j_`bflZ[ebpuIjbwlhfgZ^bkie__hlh[jZablkykbf\he •• ihe_kbf\heh\_^bgbpbaf_j_gbyhqbs_gh- gZ`fbl_ dghidm ^h bkl_q_gby k_dmg^ gZ ^bkie__ hlh[jZablkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gby[ebadh_dgmex- aZ^Zcl_^Z\e_gb_jZ\gh_dIZWlh^Z\e_gb_[m^_lkqblZlvkygme_\hclhqdhc hlkq_lZ gZ bg^bdZlhj_ hlh[jZablky f_jpZxs__ agZq_gb_ baf_jy_fh]h^Z\e_gbydIZ- ^ey kf_s_gby gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ gZ ^Z\e_gb_dIZgZ`fbl_dghidmGZ^bkie__hlh[jZablkyf_jpZxs__agZq_gb_baf_jy_fh]h^Z\e_gbyjZ\gh]hgmex- ih\lhjgufgZ`Zlb_fdghidbhkms_kl\ey_lkyaZibkv\u[jZgghcgZkljhcdb\iZfylv^ZlqbdZb\uoh^baj_`bfZgZkljh_dIjbwlhfhlh[jZ`Z_lkykbf\hebg^bdZpbb •• Ihbkl_q_gbxk_dmg^^ZlqbdZ\lhfZlbq_kdbi_j_oh^bl\j_`bfbaf_j_gbyIjbf_qZgb_ − Ijhdhgljhebjmcl_ gZqZevgh_ b dhg_qgh_ agZq_gb_ \uoh^gh]hkb]gZeZijbg_h[oh^bfhklbijh\_^bl_dhjj_dlbjh\dm:PIihii\<u[hjijyfhcebg_cghcdhjg_ba\e_dZxs_cbebbg\_jkghcoZjZdl_jbklbdb- ihke_^h\Zl_evgufgZ`Zlb_fdghidb^hbkl_q_gbyk_dmg^mklZgh\bl_j_`bflZ[ebpu−\u[hjoZjZdl_jbklbdbIjbwlhfgZ^bkie__bg^bdZlhjZhlh[jZablkykbf\hemklZgh\e_gghcoZjZdl_jbklbdb ;- ijb g_h[oh^bfhklb bg\_jlbjh\Zgby oZjZdl_jbklbdb ^h bkl_q_gbyk_dmg^gZ`fbl_dghidm\hc^bl_\j_`bfbaf_g_gbygZkljh_dijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_oZjZdl_jbklbdb28- gZ`bfZygZdghidm\u[_jbl_bg\_jkgmxebg_cgmxoZjZdl_jbklbdm ;- ih\lhjgufgZ`Zlb_fdghidbhkms_kl\ey_lkyaZibkvmklZgh\e_gghcgZkljhcdb \ iZfylv ^ZlqbdZ b \uoh^ ba j_`bfZ baf_g_gby gZkljh_d ijb wlhff_jpZgb_agZq_gby ij_djZlblkyIhbkl_q_gbxk_dmg^^Zlqbdi_j_c^_l\j_`bfbaf_j_gby >Zlqbd ^Z\e_gbyjZaj_`_gby k ij_^_eZfb baf_j_gbc ih jZaj_`_gbx(J\(-)dIZbihba[ulhqghfm^Z\e_gbxJ\):dIZ>Zlqbd gZkljh_g gZ ^bZiZahg baf_j_gbc J\(-)+J\ dIZ kb]gZef:I_j_gZkljhblv^ZlqbdgZ^bZiZahgbaf_j_gbcdIZHi_jZpbxi_j_gZkljhcdbijh\_^bl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbb^bZiZahgZbaf_j_gbc−j_`bflZ[ebpuGZ^bkie__hlh[jZablkyl_dms__agZq_gb_^bZiZahgZbaf_j_gbc\mklZgh\e_gguo_^bgbpZo •±–§;- gZ`fbl_gZdghidm^hbkl_q_gbyk_dmg^ijbwlhfgZ^bkie__mklZgh\ylkyf_jpZxsb_agZq_gby^bZiZahgZbaf_j_gbc •± –§_^bgbpubaf_j_gbyg_f_jpZxl- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ g_h[oh^bfh_ agZq_gb_^bZiZahgZbaf_j_gbcdIZgZbg^bdZlhj_hlh[jZablky ±–§;- ih\lhjgufgZ`Zlb_fdghidbhkms_kl\ey_lkyaZibkv\u[jZgghcgZkljhcdb \ iZfylv ^ZlqbdZ b \uoh^ ba j_`bfZ gZkljh_d Ijb wlhf ©f_jpZgb_ªbg^bdZpbbij_djZsZ_lkybgZbg^bdZlhj_hlh[jZ`Z_lkymklZgh\e_ggh_agZq_gb_^bZiZahgZbaf_j_gbc ±–§;- ijh\_^bl_Z\lhfZlbq_kdmxdZeb[jh\dm©gmeyªihiIjbf_qZgb_ −Ijhdhgljhebjmcl_agZq_gb_\uoh^gh]hkb]gZeZijb^Z\e_gbb jZ\ghf gmex ^Z\e_gbb jZaj_`_gby fbgmk dIZ b ba[ulhqghf ^Z\e_gbbdIZIjbg_h[oh^bfhklbijh\_^bl_dZeb[jh\dmihii29DhgljhevgZkljhcdbiZjZf_ljh\^ZlqbdZ>ey ih^]hlh\db ^ZlqbdZ d wdkiemZlZpbb hk\h[h^bl_ ^hklmi d dghihqgufi_j_dexqZl_eyfhl\_jgm\djurdmwe_dljhggh]hij_h[jZah\Zl_ey>ey^Zlqbdh\kdh^hfFIih^dexqbl_\bedm\ughkgh]hbg^bdZlhjgh]hmkljhckl\Z<Bdjha_ld_gZdh`mo_we_dljhggh]hij_h[jZah\Zl_eyHi_jZpbydhgljheyg_hdZau\Z_l\ebygbygZ\uoh^ghckb]gZe^ZlqbdZI_j_q_gv dhgljhebjm_fuo iZjZf_ljh\ ^ZlqbdZ j_`bfh\ gZkljh_d b kbf\heh\hlh[jZ`Z_fuogZ^bkie__bg^bdZlhjZmdZaZg\lZ[ebp_<u[hjdhgljhebjm_fh]h iZjZf_ljZ hkms_kl\eycl_ ihke_^h\Zl_evguf gZ`Zlb_f dghidb ijbi_j\hfgZ`Zlbb±km^_j`Zgb_f\gZ`Zlhfkhklhygbbg_f_g__k_dmg^ijbwlhfgZ^bkie__bg^bdZlhjZhlh[jZ`Zxlkykhhl\_lkl\mxsb_pbnjh\u_agZq_gby mklZgh\e_gguo dhgljhebjm_fuo iZjZf_ljh\ beb kbf\heh\ j_`bfh\ gZkljh_dlZ[ebpZkhojZgy_fu_\l_q_gb_k_dmg^_kebg_ijhba\h^blkyke_^mxs__gZ`Zlb_dghidb<uoh^baj_`bfZdhgljheygZkljh_diZjZf_ljh\^ZlqbdZijhbkoh^blZ\lhfZlbq_kdbq_j_ak_dmg^hlihke_^g_]hgZ`ZlbydghidbF_jpZgb_kbf\heh\bg^bdZlhjZj_`bfh\blZ[ebpukb]gZebabjmxlhkhklhygbb\oh`^_gby\j_`bfbaf_g_gbyiZjZf_ljh\gZkljhcdbGh\uc pbde dhgljhey gZkljh_d iZjZf_ljh\ ^ZlqbdZ \k_]^Z gZqbgZ_lky kdhgljheyj_`bfZ\lZ[ebp_dZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZIjbf_qZgb_±;ehdko_fZhi_jZpbc\uihegy_fuoijbjZ[hl_k^Zlqbdhfijb\_^_gZ\ijbeh`_gbb;30LZ[ebpZ−J_`bfugZkljh_dbkbf\heubg^bdZpbbiZjZf_ljh\Ghf_jj_`bfZgZkljhcdbGZbf_gh\Zgb_j_`bfZgZkljhcdbKbf\heugZPB1:\lhfZlbq_kdZy dZeb[jh\dZgme_\h]h agZq_gby \uoh^gh]hkb]gZeZ^ZlqbdZ****2?^bgbpu baf_j_gby beb ijhp_gluhl^bZiZahgZbaf_j_gbc3>bZiZahgbaf_j_gbcdP)****_d1@****4MklZgh\dZGIB5<u[hj \j_f_gb mkj_^g_gby\uoh^gh]h kb]gZeZ ^_finbjh\Zgb_67hldPbebJ\;FIZdIZIZd]kkf2d]kf2@”–@Dhgljhev \u[jZgghc oZjZdl_jbklbdb \uoh^gh]h kb]gZeZ(ijyfZy ebg_cgZy dhjg_ba\e_dZxsZy bg\_jkgZy ebg_cgZy•¸; •D;•D; D;D; D;D; D, •, •, -DZeb[jh\dZFI>>, , •, •Ijbf_qZgbyBaf_jy_fh_^Z\e_gb_k ©f_jpZgb_fª ^bkie_y?^bgbpu baf_j_gbyk ©f_jpZgb_fª ^bkie_y>bZiZahg baf_j_gbc\mklZgh\e_gguo_^bgbpZo q_j_^mxsbcky k ljZgkiZjZglhf©dP»GIB \ mklZgh\e_gguo _^bgbpZo q_j_^mxsbcky k ljZgkiZjZglhf©GIª<j_fy mkj_^g_gby k©f_jpZgb_fª^bkie_ykb]gZef:kb]gZef:kb]gZef:Bg^bdZpbx j_`bfh\dZeb[jh\db kf \lZ[ebpZo$»-Ijbf_qZgb_ – PB±pbnjh\hcbg^bdZlhjjZajy^ZFI>>±fbdjhijhp_kkhjguc^Zlqbd^Z\e_gbyGIB±gb`gbcij_^_ebaf_j_gbc ^ey^Zlqbdh\>B<GIB± \_jogbcij_^_ebaf_j_gbcjZaj_`_gby22d]kfd]kkfdIZFIZihe_kbf\heh\_^bgbpbaf_j_gbybgnhjfZpbhggh_ihe_jZajy^ZJbkmghdIhe_^bkie_y@DB31LZ[ebpZ−Kbf\heubg^bdZpbbj_`bfh\dZeb[jh\db^ey\k_o^Zlqbdh\djhf_>B<Ghf_jj_`bfZdZeb[jh\dbGZbf_gh\Zgb_j_`bfZdZeb[jh\db1DZeb[jh\dZ©gmeyªP:I2DZeb[jh\dZ©gZdehgZªP:IKbf\heugZPB@•µ @••µ@•µ@•µ3DZeb[jh\dZGIB”–4DZeb[jh\dZ^bZiZahgZbaf_j_gbcd15AZsblZhlaZibkbIjbf_qZgby>eykb]gZeZf:>eykb]gZeZbf:>eykb]gZeZbf:>eykb]gZeZf:@0′ -AZsblZ\udexq_gZ@0¶ -AZsblZ\dexq_gZIjbf_qZgb_±P:I±pbnjhZgZeh]h\ucij_h[jZah\Zl_evLZ[ebpZ−Kbf\heubg^bdZpbbj_`bfh\dZeb[jh\db^ey^Zlqbdh\>B<Ghf_jj_`bfZdZeb[jh\dbGZbf_gh\Zgb_j_`bfZdZeb[jh\db1DZeb[jh\dZ©gmeyªP:I2DZeb[jh\dZ©gZdehgZªP:I3456Kbf\heugZPB@•µ@••µ@•µ@•µDZeb[jh\dZ©gmeyª^Z\e_gbyDZeb[jh\dZ \_jog_]h ij_^_eZbaf_j_gbyjZaj_`_gbyJ\(-)DZeb[jh\dZ \_jog_]h ij_^_eZbaf_j_gbyba[ulhqgh]h^Z\e_gbyJ\AZsblZhlaZibkb32Ijbf_qZgby>eykb]gZeZf:>ey kb]gZeZ bf:>ey kb]gZeZ bf:>eykb]gZeZf:••@@— d1@@—d1@@0′ -AZsblZ\udexq_gZ@0¶ -AZsblZ\dexq_gZ:\lhfZlbq_kdZydZeb[jh\dZgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ^ZlqbdZ>ZggZyhi_jZpby\uihegy_lkyijb^Z\e_gbbgZ\oh^_\^ZlqbdjZ\ghfgmex:\lhfZlbq_kdZy dZeb[jh\dZ gZqZevgh]h agZq_gby \uoh^gh]h kb]gZeZ ^ZlqbdZh[_ki_qb\Z_llhqghklvdZeb[jh\db\ij_^_eZoγ.Hi_jZpby Z\lhfZlbq_kdhc dZeb[jh\db fh`_l [ulv hkms_kl\e_gZ ^\mfykihkh[ZfbIjbi_j\hfkihkh[_bkihevam_lky\g_rgyydghidZgZdhjimk_we_dljhggh]hij_h[jZah\Zl_ey>eydZeb[jh\dbgme_\h]hagZq_gby\uoh^gh]hkb]gZeZ ^ZlqbdZgZ`fbl_dghidmbm^_j`b\Zcl___\l_q_gb_g_f_g__k_dmg^Ijbf_qZgb_ ± Hi_jZpby Z\lhfZlbq_kdhc dZeb[jh\db ©gmeyª \g_rg_cdghidhc\uihegy_lkylhevdh\^ZlqbdZoF_ljZgbkiheg_gby:KF_ljZgbF_ljZgIjb\lhjhfkihkh[_bkihevamxlkydghidbgZebp_\hciZg_ebwe_dljhggh]h[ehdZ DZeb[jh\dm gme_\h]h agZq_gby \uoh^gh]h kb]gZeZ ^ZlqbdZ ijh\h^bl_ \ke_^mxs_cihke_^h\Zl_evghklb- gZ`fbl_gZdghidmbm^_j`b\Zcl___g_f_g__k_dmg^IjbwlhfgZ^bkie__ bg^bdZlhjZ ihy\blky f_jpZxs__ agZq_gb_ ^Z\e_gby \ mklZgh\e_gguoijbgZkljhcd__^bgbpZobaf_j_gbybeb\ijhp_glZohl^bZiZahgZbaf_j_gbcdJj_`bflZ[ebpuF_jpZgb_bg^bdZpbbi_jbh^bq_kdh_\dexq_gb_b\udexq_gb_kqZklhlhchdheh=phagZqZ_l\oh`^_gb_\j_`bf±baf_g_gbyiZjZf_ljh\gZkljhcdb- ^ey dZeb[jh\db gme_\h]h agZq_gby \uoh^gh]h kb]gZeZ g_h[oh^bfh ^hbkl_q_gby k_dmg^ gZ`Zlv dghidm F_jpZgb_ bg^bdZlhjZ ij_djZsZ_lky bijhbkoh^bli_j_oh^\j_`bfbaf_j_gby^Z\e_gbyWlhmdZau\Z_lgZlhqlhijhbahrehZ\lhfZlbq_kdh_ ©h[gme_gb_ª :PI ZgZeh]hpbnjh\hcij_h[jZah\Zl_evb \uiheg_gZ dZeb[jh\dZ gme_\h]h agZq_gby \uoh^gh]h kb]gZeZ ih ijh]jZff_^ZlqbdZ GZ ^bkie__ hlh[jZablky agZq_gb_ baf_jy_fh]h ^Z\e_gby khhl\_lkl\mxs_]hgmex\hafh`gudhe_[Zgby\feZ^r_fjZajy^_bg^bdZlhjZ33Ijbf_qZgbyIhy\e_gb_kbf\heZihke_gZ`Zlbydghidbbeb\g_rg_cdghidbhagZqZ_lqlhbaf_j_ggh_^Z\e_gb_\uoh^blaZ]jZgbpu• ±5%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,25Jmax≤dP≤Pmax;• ±10%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,1Jmax≤dP<0,25Pmax;• ±25%dJ ± ^ey mklZgh\e_ggh]h ^bZiZahgZ baf_j_gbc \ ij_^_eZo0,04Jmax≤dP<0,1Pmax,ijbwlhfZ\lhfZlbq_kdZydZeb[jh\dZgZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZ\j_`bf_iaZij_s_gZijh]jZffhc^ZlqbdZbfh`_l[ulv\uiheg_gZlhevdh\j_`bf_baf_g_gbygZkljh_diZjZf_ljh\^ZlqbdZdZeb[jh\dZGIBi6.3).>ey^Zlqbdh\>:^ZggZyhi_jZpby\uihegy_lkyijbZ[khexlghf^Z\e_gbbg_[he__γhlmklZgh\e_ggh]h\_jog_]hij_^_eZbaf_j_gbc]^_ γij_^_e^himkdZ_fhc hkgh\ghc ih]j_rghklb ^ZlqbdZ kf Jmdh\h^kl\h ih wdkiemZlZpbb Ijb g_\hafh`ghklb mklZgh\blv mdZaZggh_ ^Z\e_gb_ dhjj_dlbjh\dm gZqZevgh]hagZq_gby\uoh^gh]hkb]gZeZijh\h^bl_ihidZeb[jh\dZGIBGZkljhcdZ_^bgbpbaf_j_gbybebijhp_glh\hl^bZiZahgZ^ZlqbdZHi_jZpbxgZkljhcdbhkms_kl\eycl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbb_^bgbp baf_j_gby j_`bf lZ[ebpu GZ ^bkie__ hlh[jZablky f_jpZxsbcjZg__ mklZgh\e_gguc kbf\he _^bgbp baf_j_gby ihe_ ih^ agZq_gb_ ^Z\e_gbyhqbs_ghjbkmghd- baf_g_gb__^bgbpbaf_j_gbymklZgh\e_gguojZg__fh`ghijhba\_klbihke_^h\Zl_evguf gZ`Zlb_f dghidb ^h \u[hjZ gm`guo _^bgbp baf_j_gbyI_j_oh^baj_`bfZgZkljhcdb\j_`bfbaf_j_gbckkhojZg_gb_fihke_^g_cgZ-34kljhcdb ijhbkoh^bl Z\lhfZlbq_kdb q_j_a k_dmg^ hl ihke_^g_]h gZ`Zlbydghidb Ijb gZ`Zlbb dghidb ijhbkoh^bl i_j_oh^ \ j_`bf gZkljhcdbke_^mxs_]hiZjZf_ljZkkhojZg_gb_fgZkljhcdb_^bgbpbaf_j_gbyIjbf_qZgb_ – Bg^bdZlhj fh`_l ihklZ\eylvky k Zg]ehyauqghc \_jkb_c_^bgbpbaf_j_gbyZg]ebckdZy\_jkbyb__i_j_\h^ijb\_^_gugb`_IZ±JZd]kf2 – kgf/m2;d]kcf2 – kgf/cm2;KIZ±kJZFIZ±MPa.GZkljhcdZ\j_f_gb^_finbjh\Zgb_mkj_^g_gby\uoh^gh]hkb]gZeZHi_jZpbx gZkljhcdb \j_f_gb mkj_^g_gby \uoh^gh]h kb]gZe ijh\h^bl_ \ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evgh gZ`bfZcl_ dghidm ^h ihy\e_gby f_jpZxs_]h mklZgh\e_ggh]hjZg__agZq_gby\j_f_gb\k_dmg^Zoj_`bflZ[ebpuihe_gZ^bkie__^eykbf\heh\_^bgbpbaf_j_gbyhqbs_ghjbkmghd- baf_g_gb_agZq_gby\j_f_gbmkj_^g_gbyfh`ghijhba\_klbihke_^h\Zl_evgufgZ`Zlb_fdghidb^hmklZgh\e_gbygm`gh]hagZq_gbyIjbwlhfdZ`^h_ihke_^mxs__gZ`Zlb_dghidbm\_ebqb\Z_l\j_fymkj_^g_gby\jZaZ\ij_^_eZo hl ^h k_dmg^ k ^Zevg_crbf ih\lhj_gb_f pbdeZ I_j_oh^ baj_`bfZ dhgljhey gZkljh_d \j_f_gb mkj_^g_gby \ j_`bf baf_j_gby k khojZg_gb_f ihke_^g_c gZkljhcdb ijhbkoh^bl Z\lhfZlbq_kdb q_j_a k_dmg^ hl ihke_^g_]hgZ`ZlbydghidbIjbgZ`Zlbbdghidbijhbkoh^bli_j_oh^\j_`bfgZkljhcdbke_^mxs_]hiZjZf_ljZkkhojZg_gb_fgZkljhcdb\j_f_gbmkj_^g_gbyGZkljhcdZ^bZiZahgZbaf_j_gbc<gbfZgb_ <k_ ihke_^mxsb_ hi_jZpbb gZkljh_d ij_^iheZ]Zxl kgylb_aZsbluhlg_kZgdpbhgbjh\Zggh]h^hklmiZdgZkljZb\Z_fufiZjZf_ljZf^ZlqbdZ l_ jZkiehf[bjh\Zgb_ dghidb h[_ki_qb\Zxs_c \uiheg_gb_ hi_jZpbci_j_gZkljhcdb JZkiehf[bjh\Zgb_ dghidb g_ kgbfZ_l ]ZjZglbcguo h[yaZl_evkl\ij_^ijbylbyba]hlh\bl_eygZ^Zlqbdb^Z\e_gbyIhke_ijh\_jdbgZkljh_d\kemqZ_g_h[oh^bfhklbaZsblumklZgh\e_gguoiZjZf_ljh\hlg_kZgdpbhgbjh\Zggh]hbobaf_g_gbyij_^ijbylb_ihlj_[bl_ev35fh`_lhiehf[bjh\ZlvdghidmHi_jZpbxgZkljhcdb^bZiZahgZbaf_j_gbcijh\h^bl_\ke_^mxs_cihke_^h\Zl_evghklb- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ j_`bf bg^bdZpbb^bZiZahgZbaf_j_gbcj_`bflZ[ebpuGZ^bkie__hlh[jZablkyl_dms__agZq_gb_^bZiZahgZbaf_j_gbc\mklZgh\e_gguo_^bgbpZobaf_j_gbyq_j_^mxs__kykljZgkiZjZglhf d1 IjbmklZgh\e_gguo_^bgbpZo©ªgZ^bkie__hlh[jZablkyl_dms__agZq_gb_^bZiZahgZbaf_j_gby\nbabq_kdbo_^bgbpZobaf_j_gbymklZgh\e_gguo\ij_^u^ms_fk_Zgk_gZkljhcdb_^bgbpbaf_j_gby- \ kemqZ_ g_h[oh^bfhklbbaf_g_gby ^bZiZahgZ baf_j_gbc ^h bkl_q_gby k_dmg^ gZ`fbl_ gZ dghidm \hc^bl_ \ j_`bf baf_g_gby gZkljh_d ijbwlhfgZ^bkie__mklZgh\blkyf_jpZxs__agZq_gb_mklZgh\e_ggh]hklZg^Zjlgh]h^bZiZahgZ baf_j_gby beb f_jpZxs__ agZq_gb_ klZjr_c pbnju mklZgh\e_ggh]hg_klZg^Zjlgh]h^bZiZahgZbaf_j_gby- ihke_^h\Zl_evguf gZ`Zlb_f dghidb mklZgh\bl_ g_h[oh^bfh_ agZq_gb_ klZg^Zjlgh]h ^bZiZahgZ baf_j_gby beb agZdhf_klh baf_gy_fhc pbnju b^_kylbqgh]h jZa^_ebl_ey g_klZg^Zjlgh]h ^bZiZahgZ baf_j_gby Baf_g_gb_ \u[jZgghcf_jpZxs_cpbnjuhl^hg_klZg^Zjlgh]h^bZiZahgZbaf_j_gbybiheh`_gby ^_kylbqgh]h jZa^_ebl_ey ijhba\h^blky djZldh\j_f_gguf gZ`Zlb_fdghidb MklZgh\dZ ^_kylbqgh]h jZa^_ebl_ey \ djZcgxx ijZ\mx ihabpbxgZijbf_jqbkehhlh[jZ`Z_lkyf_jpZgb_f[md\u©dª\bah[jZ`_gbb_^bgbpbaf_j_gbyIjbf_qZgby1.