摘要
建立期货市场定价模型,研究异质型投资者市场分数的占比对期货价格模型的影响,通过理论分析给出系统的平衡点及稳定区域的条件,一定比例下的异质型投资者可以维持系统的稳定性,异质型投资者的增多以及策略的转变可以增加市场活力,使市场达到均衡状态.
This paper studies the proportion of the market fraction for heterogeneous investors impacts on the futures price model by developing a pricing model for the futures market.With mathematical analysis,we solve the equilibrium and its stability conditions for the system.A certain proportion of heterogeneous investors can maintain the stability of the system,and the increase of heterogeneous investors and the transformation of strategies can increase the market vitality and make the market reach the equilibrium state.
作者
费钊
杨志
王婧
FEI Zhao;YANG Zhi;WANG Jing(College of Mathematics and Statistics,Yili Normal University,Yining 835000,China;Institute of Applied Mathematics,Yili Normal University,Yining 835000,China)
出处
《长春师范大学学报》
2023年第8期28-33,66,共7页
Journal of Changchun Normal University
基金
伊犁州科技计划项目“非对称马氏过程的积分型泛函”(YZ2022YD002)
伊犁师范大学校级科研项目“含融资融券的多资产金融市场模型研究及其实证分析”(2021YSYB076)
伊犁师范大学高级培育项目“资产价格内生演化机制模型研究”(YSPY2022013)。
关键词
市场分数
稳定区域
期货价格
market fraction
stability region
future price
