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论金融市场的相对有效性 被引量:1

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摘要 金融市场上各种异常现象的累积以及行为金融学的发展,引发了关于市场有效性问题的争论。本文基于噪声理论对投资者的分类,应用博弈矩阵模型对投资者的投资行为进行分析,认为理性交易者与噪声交易者可以相互转化,理性是相对的;正是由于投资者之间的理性博弈,导致市场在相对有效与相对无效之间上下波动,表现出市场的相对有效性。
作者 吴美焕
机构地区 厦门大学金融系
出处 《福建金融》 2004年第1期19-21,共3页 Fujian Finance
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