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基于红利贴现的适应性预期股价决定模型研究 被引量：1

A Research of the Stock Pricing Determination Model on Adaptive Expectation
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摘要 介绍了基于红利贴现的适应性预期股价模型,对适应性预期股价决定模型和理性预期股价决定模型进行了比较,并分析总结了已有的实证结果,得出了适应性预期模型对于成熟股票市场有很强解释能力并将对我国股市有借鉴意义的结论. The paper introduce the model of adaptive expectation on stock price determination. The comparison of adaptive expectation model and rational expectation model is provided. The conclusion is that the model of adaptive expectation can explain the mature stock market.
作者 危慧惠
机构地区 中南财经政法大学新华金融保险学院
出处 《数学的实践与认识》 CSCD 北大核心 2005年第8期36-40,共5页 Mathematics in Practice and Theory
关键词 适应性预期 理性预期 红利贴现模型 预期模型 适应性 股价 贴现 股票市场 借鉴 股市 adaptive expectation rational expectation present-value model
分类号 F224.7 [经济管理—国民经济]
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参考文献7

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  • 7Gregory C Chow, Zhao-zhi Fan, Jin-yan Hu. Shanghai stock prices as determined by the present-value model[J].Journal of Comparative Economics, 1999, (27,3): 553-561.

同被引文献30

  • 1Rochet J C, Tirole J. Platform competition in two-sided markets[J]. Journal of the European Economic Associa- tion, 2003, 1(4): 990-1029.
  • 2Rochet J C, Tirole J. Two-sided markets: a progress report[ J]. The RAND Journal of Economics, 2006, 37 ( 3 ) : 645- 667.
  • 3Hagiu A, Halaburda H. Information and two-sided plat- form profits [ J ]. International Journal of Industrial Organ- ization, 2014, 34(1): 25-35.
  • 4Cagan P. The monetary dynamics of hyperinflation [ A ]. In Friedman M, ed. Studies in the Quantity Theory of Money [ C ]. Chicago: University of Chicago Press, 1956. 25-117.
  • 5Phelps E S. Phillips curves, expectations of inflation and optimal unemployment over time[ J]. Economica, 1967, 34(3) : 254-281.
  • 6Friedman M. The role of monetary policy [ J ]. American Economic Review, 1968, 58(1 ) : 1-17.
  • 7Chow G C. Rational versus adaptive expectations in present value models [ J ]. Review of Economics and Statistics, 1989, 71(3) : 376-384.
  • 8Chow G C, Fan Z Z, Hu J Y. Shanghai stock prices as determined by the present-value model [ J ]. Journal of Comparative Economics, 1999, 27 (3) : 553-561.
  • 9Nerlove M. The dynamics of supply: retrospect and prospect[J]. American Journal of Agricultural Econom- ics, 1979, 61(5) : 874-888.
  • 10Caillaud B, Jullien B. Chicken & egg: competition among intermediation service providers [ J ]. RAND Journal of Economics, 2003, 34(2) : 309-328.

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数学的实践与认识
2005年 第8期

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