摘要
实验经济学是在可控制的实验环境下 ,选取真实的行为人进行交易决策或者选择 ,通过实验数据来检验经济理论并发现新理论的研究方法。在证券市场交易制度研究中应用实验方法具备了可控制性与可重复性的优势 ,能够有效揭示交易制度对证券市场的影响。目前 ,实验研究已经涉及到证券交易制度的多个方面。研究者通过实验方法检验了各项制度安排对证券市场产生的效应 ,包括价格形成方式、信息披露制度、价格监控制度、交易支付机制、期权交易制度等。在中国证券市场制度设计的过程中引入实验方法 。
Applying experimental methods, researchers can investigate theories and find new theories in a controlled environment through observing trade behaviors of real participants. Experimental methods have two significant advantages: Controlling over variables that are difficult or impossible to measure in the field and replicability. In studying institutions of security markets, experimental methods play an effective role in revealing the influence of institutions on security prices. Currently, researchers have tested influences of various institutions on security prices with experimental methods. This paper introduces studies in this field from methods and contents. This paper also argues if experimental methods are used in institutions designing of Chinese security markets, costs of testing institutions can be reduced and trade behavior can be studied more effectively.
出处
《财经理论与实践》
CSSCI
北大核心
2004年第6期50-55,62,共7页
The Theory and Practice of Finance and Economics
关键词
证券市场
交易制度
实验经济学
Security markets
Trading institutions
Experimental economics
