摘要
行为金融理论充分考虑了市场参与者的心理因素对市场的作用 ,以心理学的研究成果为依据 ,以现实中人们的决策心理为出发点 ,讨论了投资者的投资决策对市场的影响 .本文回顾了行为金融学的发展历程 ,并介绍了 2 0 0 2年诺贝尔经济学奖获得者、心理学家卡恩曼提出的预期理论 。
A field known as “ behavioral finance” has evolved that attempts to better understand and explain how emotions and cognitive errors influence investors and the decision making process. Many researchers of behavioral finance believe that the study of psychology can shed considerable light on the efficiency of financial markets .This article retrospects the history of the field and introduces the prospect theory advaned by Daniel Kahneman,2002 Nobel Prize winner in economics ,an expert of behavioral finance, and a psychologist. As dozens of examples of irrational behavior and repeated errors in judgement have been documented in academic studies, cognitive biases are also introduced in this article.
出处
《心理科学》
CSSCI
CSCD
北大核心
2004年第4期997-999,共3页
Journal of Psychological Science
基金
本文受国家自然科学基金 (批准号 70 1 0 30 0 4 )
复旦大学金苗项目资助
