【摘要】 依据我国原油期货的特点，对带有跳跃性因素的原油期货定价模型进行研究.首先利用随机微分方程法推导出模型的解析解及模型参数的估计公式，其次对2019, 2020年我国上海原油期货合约价格进行实证分析，结果表明带有跳跃性因素的原油期货定价模型的预测能力较好，证明了该模型的合理性与实用性.该研究对我国原油期货的定价提供了一定的理论和实证分析依据.更多还原

【Abstract】 According to the characteristics of crude oil futures in China, the pricing model of crude oil futures with jump factors is studied. Firstly, the analytical solution of the model and the estimation formula of the model parameters are derived by using the stochastic differential method. Secondly, the empirical analysis of Shanghai crude oil futures contract prices in 2019 and 2020 shows that the prediction ability of the crude oil futures pricing model with jump factor is better, indicating the rationality and practicability of the model. The research provides certain theoretical basis and empirical analysis for the pricing study of crude oil futures in our country.更多还原