房地产价格波动的行为金融学研究——以上海房地产市场为例  

作　　者：徐松茂[1] 姚佐文[1] 

机构地区：[1]安徽农业大学经济与管理学院,安徽合肥230036

出　　处：《现代物业（中旬刊）》2010年第3期27-29,共3页Modern Property Management

摘　　要：传统金融理论对房地产市场价格波动大都从宏观经济环境去分析,例如供求矛盾,经济周期,户籍制度等等。而本文通过分析发现,心里预期是导致房地产市场价格波动的关键因素,并试图通过行为金融学的噪声交易理论、反馈机制、羊群效应,对这种现象进行合理解释,并在此基础上寻求相应的对策,以促进房地产市场健康发展。The traditional financial theory analysis the property of prices fluctuate mostly from the macroeconomics environment, for example the contradiction between supply and demand , economic cycle ,and the household registration system.but this article found that the expected is the key factors which lead to the price fluctuations in real estate market. this article attempts to explain this phenomenon in Shanghai real estate market, by the theories of behavioral finance , noise trading, feedback mechanisms and herding, and try to seek countermeasures to promote the development of the real estate market based on the conclusion.

关 键 词：行为金融学 反馈机制 羊群效应 噪声交易理论 

分 类 号：F293.35[经济管理—国民经济]