资产价格泡沫研究述评:实验金融学视角
发布时间：2018-12-15 19:58
【摘要】：本文从实验金融学的视角介绍了资产泡沫最新的定义和分类,阐述了投机性泡沫、理性泡沫与非理性泡沫之间的区别和联系,着重从信息对称、信息不对称、有限套利泡沫、异质信念和实验金融五个方面系统评述了资产价格泡沫理论的发展历程和新进展,指出该领域进一步的研究方向和中国开展资产价格泡沫研究的重要意义。研究表明,随着现代金融学的高速发展,学界对资产泡沫的研究日益深入。特别是非理性和实验金融学视角的引入,突破了传统金融框架的束缚,为这一课题研究带来了新的认知和理解。即便如此,目前仍无法根除资产泡沫产生的可能性。很多相关问题,如资产泡沫产生的时间和根本原因,仍然等待着学者们去探索和研究。
[Abstract]:This paper introduces the latest definition and classification of asset bubbles from the perspective of experimental finance, and expounds the differences and relations among speculative bubbles, rational bubbles and irrational bubbles, focusing on information symmetry, information asymmetry, limited arbitrage bubbles. This paper systematically reviews the development course and new progress of asset price bubble theory from five aspects of heterogeneous belief and experimental finance, and points out the further research direction in this field and the significance of developing asset price bubble research in China. The research shows that with the rapid development of modern finance, the research on asset bubble is getting deeper and deeper. Especially, the introduction of irrational and experimental financial perspective breaks through the shackles of traditional financial framework and brings new cognition and understanding to this subject. Even so, the possibility of an asset bubble cannot yet be eradicated. Many related issues, such as the timing and underlying causes of asset bubbles, are still waiting for scholars to explore and study.
【作者单位】： 厦门大学王亚南经济研究院、经济学院和"计量经济学"教育部重点实验室;厦门大学经济学院金融系;
【基金】：国家自然科学基金“中国股市投机性泡沫识别和投资者乘骑泡沫行为研究”(71071132) 教育部人文社会科学重点研究基地重大项目“我国宏观经济运行的微观基础研究”(08JJD790134),教育部人文社科规划项目“缓冲储备理论和我国城乡居民消费结构的演进”(09YJA790118),教育部人文社科基金项目“异质信念,卖空限制与中国股票市场暴涨暴跌机制研究”(08JA790109)的资助
【分类号】：F830
[Abstract]:This paper introduces the latest definition and classification of asset bubbles from the perspective of experimental finance, and expounds the differences and relations among speculative bubbles, rational bubbles and irrational bubbles, focusing on information symmetry, information asymmetry, limited arbitrage bubbles. This paper systematically reviews the development course and new progress of asset price bubble theory from five aspects of heterogeneous belief and experimental finance, and points out the further research direction in this field and the significance of developing asset price bubble research in China. The research shows that with the rapid development of modern finance, the research on asset bubble is getting deeper and deeper. Especially, the introduction of irrational and experimental financial perspective breaks through the shackles of traditional financial framework and brings new cognition and understanding to this subject. Even so, the possibility of an asset bubble cannot yet be eradicated. Many related issues, such as the timing and underlying causes of asset bubbles, are still waiting for scholars to explore and study.
【作者单位】： 厦门大学王亚南经济研究院、经济学院和"计量经济学"教育部重点实验室;厦门大学经济学院金融系;
【基金】：国家自然科学基金“中国股市投机性泡沫识别和投资者乘骑泡沫行为研究”(71071132) 教育部人文社会科学重点研究基地重大项目“我国宏观经济运行的微观基础研究”(08JJD790134),教育部人文社科规划项目“缓冲储备理论和我国城乡居民消费结构的演进”(09YJA790118),教育部人文社科基金项目“异质信念,卖空限制与中国股票市场暴涨暴跌机制研究”(08JA790109)的资助
【分类号】：F830
【二级参考文献】
相关期刊论文 前10条
1 李新路,张文修;中国股票市场个体投资者“处置效应”的实证研究[J];当代经济科学;2005年05期
2 张艳;;我国证券市场泡沫形成机制研究——基于进化博弈的复制动态模型分析[J];管理世界;2005年10期
3 张峥;刘力;;换手率与股票收益:流动性溢价还是投机性泡沫?[J];经济学(季刊);2006年02期
4 周春生,杨云红;中国股市的理性泡沫[J];经济研究;2002年07期
5 李心丹,王冀宁,傅浩;中国个体证券投资者交易行为的实证研究[J];经济研究;2002年11期
6 刘q，
本文编号：2381206
本文链接：https://www.wllwen.com/jingjilunwen/guojijinrong/2381206.html
