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dc.contributor.author高鸿桢
dc.contributor.author林嘉永
dc.date.accessioned2011-05-19T01:45:10Z
dc.date.available2011-05-19T01:45:10Z
dc.date.issued2005-02
dc.identifier.citation经济研究,2005(2):63-71zh_CN
dc.identifier.issn0577-9154
dc.identifier.urihttps://dspace.xmu.edu.cn/handle/2288/9018
dc.description.abstract我们采用经济学实验研究方法构建了信息不对称的实验室资本市场,研究信息是否可以通过市场迅速传递。实验结果表明,在信息不对称的情况下,资本市场是非有效的;市场对信息的传递和价格反应是有条件的而且也是需要时间的;资本市场中的投资者并非完全理性,而是具有认知和行为偏差的普通人,存在过度自信和过度交易的情况;信息不对称还可能引起市场操纵行为,从而导致价格泡沫的形成。We use experimental methods to conduct experimental capital markets under asymmetric information and address whether information can transfer immediately in markets. This paper documents the inefficiency of capital markets under asymmetric information. The paper also documents that the transfer of information and the response of prices through capital markets are conditional and time2consuming. The investors in capital markets are not fully rational , they are ordinary people , have cognitive and behavioral bias , they are prone to overconfidence and thus cause to over trade. Information asymmetries can cause the manipulation behavior of the insiders thus cause the formation of price bubbles.zh_CN
dc.description.sponsorship本文是国家自然科学基金项目(编号70272014) 的研究成果之一。zh_CN
dc.language.isozhzh_CN
dc.publisher经济研究编辑部zh_CN
dc.subject资本市场zh_CN
dc.subject实验经济学zh_CN
dc.subject信息不对称zh_CN
dc.subject有效市场假说zh_CN
dc.subjectCapital Marketszh_CN
dc.subjectExperimental Economicszh_CN
dc.subjectInformation Asymmetrieszh_CN
dc.subjectEMHzh_CN
dc.title信息不对称资本市场的实验研究zh_CN
dc.title.alternativeAn Experimental Study of Capital Markets Under Asymmetric Informationzh_CN
dc.typeArticlezh_CN


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