摘要
本文以KT(1979)的展望理论和过度自信、自我归因心理偏差为基础,建立了解释反应过度和反应不足异常现象的投资心理展望价值模型,研究了股票市场上反应不足和反应过度异常现象形成的机理,并解释了我国股票市场中反应不足和反应过度的一些具体特征。
In this paper, we present a prospect value model based on prospect theory of KT(1979) and investment psychology overconfidence and self-attribution, and study the mechanism of the anomalous overreaction and underreaction in the financial market by using the prospect value model. At last, we explain some characters of overreaction and uderreaction in Chinese stock market.
出处
《运筹与管理》
CSCD
2007年第6期118-122,共5页
Operations Research and Management Science
基金
国家自然科学基金资助项目NSFC(70571042)
关键词
展望价值
过度自信
自我归因
反应不足
反应过度
key words, prospect theory
overconfidence
biased self-attribution
overreaction
underreaction