非均衡市场环境下投资性商品价格运行系统的稳定性分析
发布时间：2019-02-24 19:30
【摘要】：从投资者的投资行为特征出发,构建了基于投资者心理预期的投资性商品蛛网模型,运用现代经济控制论中的状态空间理论建立状态方程,对非均衡市场环境下投资性商品的价格运行系统实现稳定的条件展开分析。结果表明,非均衡市场环境下,市场对供需失衡的敏感程度位于一定区间内时,某一特定投资性商品的价格运行过程可实现渐近稳定;区间大小取决于投资者对预期收益的敏感程度以及供应商对商品前期价格的敏感程度,敏感程度越高,投资性商品价格运行越难趋于稳定。
[Abstract]:Based on the characteristics of investors' investment behavior, this paper constructs a cobweb model of investment commodities based on investors' psychological expectations, and establishes the state equation by using the state space theory in modern economic cybernetics. This paper analyzes the stable conditions of the price operation system of investment commodities under the unbalanced market environment. The results show that when the sensitivity of the market to the imbalance of supply and demand is within a certain range, the price operation process of a particular investment commodity can be asymptotically stable. The size of the range depends on the sensitivity of the investor to the expected return and the sensitivity of the supplier to the pre-commodity price. The higher the sensitivity is, the more difficult it is to stabilize the operation of the investment commodity price.
【作者单位】： 南京航空航天大学经济与管理学院;江苏大学财经学院;
【基金】：国家自然科学基金面上项目(70971064) 江苏省高校哲学社会科学重点研究基地项目(2010JDXM014、2010JDXM015) 江苏省2012年度普通高校研究生科研创新计划项目(CXLX12_0179) 广义虚拟经济研究专项(GX2010-1003(Z)、GX2010-1015(Y))
【分类号】：F830.59
[Abstract]:Based on the characteristics of investors' investment behavior, this paper constructs a cobweb model of investment commodities based on investors' psychological expectations, and establishes the state equation by using the state space theory in modern economic cybernetics. This paper analyzes the stable conditions of the price operation system of investment commodities under the unbalanced market environment. The results show that when the sensitivity of the market to the imbalance of supply and demand is within a certain range, the price operation process of a particular investment commodity can be asymptotically stable. The size of the range depends on the sensitivity of the investor to the expected return and the sensitivity of the supplier to the pre-commodity price. The higher the sensitivity is, the more difficult it is to stabilize the operation of the investment commodity price.
【作者单位】： 南京航空航天大学经济与管理学院;江苏大学财经学院;
【基金】：国家自然科学基金面上项目(70971064) 江苏省高校哲学社会科学重点研究基地项目(2010JDXM014、2010JDXM015) 江苏省2012年度普通高校研究生科研创新计划项目(CXLX12_0179) 广义虚拟经济研究专项(GX2010-1003(Z)、GX2010-1015(Y))
【分类号】：F830.59
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