房地产泡沫的形成机理——基于行为经济学视角的分析

On the dynamics of the real estate foam:an analysis by behavior economics

运用行为经济学相关理论,通过分析房地产市场微观主体从泡沫形成至泡沫破裂各阶段的心理和行为过程,探究了房地产泡沫形成的内在机理,并揭示了泡沫非理性的本质。最后针对房地产市场存在的非理性行为,提出应通过制度设计及借助税收杠杆等政策工具来规范房产交易、抑制过度投机,从而有效地防范和控制房价过度增长。

Using correlated theory of behavior economics, this paper inquires into the intrinsic mechanism that the real estate bubble forms, and has promulgated the bubble non - rational essence through the analysis to the psychology and behavior process which microscopic suhjects of real estate market have from the bubble forming till the bubble breaking. Finally, aiming at the non - rational behavior existing in real estate market, it should regulate tile real estate transaction and inhibit excessive speculation by the system design and taxation leverage, thereby effectively prevent and eontrol the excessive growth in housing prices.