| 金融资产泡沫形成的心理因素 |
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| 引用本文： | 徐浩庆.金融资产泡沫形成的心理因素[J].丹东师专学报,2009(2):30-34. |
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| 作者姓名： | 徐浩庆 |
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| 作者单位： | 中国社会科学院研究生院,北京100102 |
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| 摘 要： | 信息的不完全性及不对称性决定了预期只能是有限理性的,心理因素在金融资产泡沫的形成中扮演了重要的角色。因此,行为主体只能是根据自己认识到的约束和自己拥有的信息结构寻求利益最大化,不可避免地会受到心理因素的影响。羊群心理、博傻心理及正反馈交易一定程度上都会影响资产价格的形成。
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| 关 键 词： | 资产泡沫 投机 羊群心理 博傻 正反馈交易 |
Psychological Factors and Formation of Financial Asset Bubbles |
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| Institution: | XU Hao - qing (Graduate School, China Academy of Social Sciences, Beijing 100102, China) |
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| Abstract: | Psychological factors play an essential role in the formation of financial asset bubbles. The incom- pleteness and asymmetry of information determine that people could only have bounded rationality. Based on the constraints and knowledge structure one possesses, economic agent maximizes his benefits but can not avoid the im- pact of psychological elements. Psychologies of herd instinct, great fool and positive feedback trade exert strong in- fluence on the formation of asset bubbles. |
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| Keywords: | asset bubbles speculation herd instinct great fool positive feedback trade |
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