面对金融复杂性的理论挑战:现代金融理论的困惑与出路

Facing the Challenge of Financial Complexity: Perplexity and Way Out of Modern Financial Theory

现代金融理论,因为不能通过经济学家用资本市场历史数据对它进行的经验检验,而动摇了主流经济学的均衡分析方法在现代金融理论中的主导地位,导致了现代金融理论的理论危机。面对经济与金融系统复杂性的理论挑战应运而生的行为金融学和演化经济学,在研究方法上实现了由静态均衡分析到动态非均衡分析的革命性变革,为克服这场理论危机带来了希望。

Modern financial theory shake the leading station of equilibrium analysis method of the main stream in modern financial theory, and led to a crisis in theory, for the modern financial theory could not work in the experiential inspection with historical data of capital market by economists. Action finance and evolvement economics were born in the theoretical challenge of complexity of economic and financial system. In the study method, it realized the revolutionary transform from static state equilibrium analysis to dynamic non- equilibrium analysis, and accordingly brought hope for this crisis.