集合竞价金融实验中的投资者预期与泡沫  

On Investors' Predictions and Bubbles in a Financial Experiment under the Call Option Mechanism

作　　者：龙俊炜 

机构地区：[1]华南师范大学数学科学学院,广东广州510631

出　　处：《顺德职业技术学院学报》2014年第2期28-32,共5页Journal of Shunde Polytechnic

摘　　要：介绍一个集合竞价出清机制下的金融实验,利用实验数据对实验者价格预期的形成进行深入研究,发现实验者价格预期依赖于市场最新信息,并对信息进行简单线性加工;动量策略是一种典型的价格预期策略;实验者的价格预期有显著的一致性;市场泡沫与实验者预期有非常密切的联系。Research on the formation of price predictions was conducted in a financial experiment under the call option mechanism. It was found in the experiment that all groups of participants made predictions with latest market news and processed it in a simple linear way;the momentum investment strategy was a typical price prediction strategy;the partic-ipants coordinated on a common prediction strategy;bubbles of the market were closely related to participants＆#39; predic-tions.

关 键 词：集合竞价 金融实验 预期 动量投资策略 泡沫 

分 类 号：F830.91[经济管理—金融学]