行为金融学的理论框架

行为金融学产生于20世纪80年代,心理学的有关研究成果被引入到行为金融的研究领域,成为了行为金融的重要研究内容之一。该领域主要有两大基石:认知心理学,它解释了与现实中完全理性的各种相背离的情况;有限套利,它认为理性交易者很难轻易消除由非理性交易者所引起的价值偏离。

Theory Framework of the Behavioral Fiance

The behavioral finance originated in 1980's.The findings on psychology were introduced into the research of the behavioral finance,and became one of the important research fields.The field has two building blocks:cognize psychology,which catalogues the kinds of deviations from full rationality we might expect to see;and limits to arbitrage,which argues that it can be difficult for rational traders to undo the dislocations caused by less rational traders.