金融资产定价与普通商品定价的比较研究

The Comparative Research Between Financial Asset Pricing And Ordinary Merchandise Pricing

站在时间的维度上,我们可以更加清楚地了解一般商品价格理论和金融资产价格理论的区别和内在联系。一般商品的价格理论是构建在个体和厂商之上的一般均衡分析,从时间的维度看,它是一种面向历史的分析范式。金融资产的定价则是建立在无套利均衡思想上的资本化定价,从时间的维度看,它是一种面向未来的分析范式。

From the view of time, we can clear probe the differences and relations between common goods price and fictitious assets price. Under time dimension, the pricing theory of common goods is general equilibrium analysis model between consumers and producers. It is one kind of pricing model facing history time. But the pricing theory of fictitious assets is No - Arbitrage equilibrium analysis model, it is one kind of pricing model facing future time.