存在噪声交易的房地产价格波动研究  

Study of noise trading for real estate prices fluctuations

作　　者：赖一飞[1] 龙倩倩[1] 罗海云[1] 

机构地区：[1]武汉大学经济与管理学院,湖北武汉430072

出　　处：《武汉大学学报（工学版）》2011年第3期367-370,共4页Engineering Journal of Wuhan University

基　　金：教育部人文社会科学研究规划项目(批准号:10YJA630077)

摘　　要：基于DSSW模型,对被市场上的噪声信号影响的投资者的情绪及其非理性行为进行研究,以更好地来解释近年来房价的频繁波动及房地产市场的资产泡沫现象.根据分析结论,建立回归模型,对上海房地产市场进行实证研究,并从经济稳定和房地产业健康发展的角度,提出正确引导房地产投资的建议.Based on the model of DSSW,the paper studies the investors＇ emotions and irrational behaviors which are affected by noise signals in real estate market,in order to better explain the phenomenon of house prices fluctuate frequently and real estate market assets bubble in recent years.According to the conclusion we establish a regression model and then choose Shanghai real estate market for case study.Finally,we propose some advices to correct guidance of real estate investment from the angles of economic stability and the healthy development of real estate.

关 键 词：DSSW模型 噪声信号 非理性行为 投资者情绪 

分 类 号：F293.35[经济管理—国民经济]