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问题如下：

It has been said that the prices of risky assets in a perfect capital market are determined as if there was only a single investor. Is this an accurate statement? Explain.

解释：

The statement is true if, in addition to a perfect capital market, it is assumed that investors are risk averse and select their optimal investment by the mean-variance criterion. Under these conditions, CAPM applies and all investors select the same market portfolio, regardless of their risk aversion and initial wealth.

中文解析：

如果除了一个完美的资本市场外，还假设投资者厌恶风险，并根据均值-方差标准选择其最优投资，则该声明是正确的。在这些条件下，CAPM适用，所有投资者选择相同的市场投资组合，而不管他们的风险厌恶和初始财富。