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作为行为经济学的重要分支,行为金融学自20世纪中期以来得到了前所未有的发展,成为金融学研究中的最受关注的前沿领域之一。有限理性是行为金融研究的基本假设,它比现代金融理论的完全理性假设更符合金融市场的现实情况。基于这一点,行为金融研究能够解释很大一部分现代金融理论所不能解释的市场“异常”现象,并为许多早已行之有效的投资策略提供理论基础。在
As an important branch of Behavioral Economics, Behavioral Finance has gained unprecedented development since the middle of the 20th century, becoming one of the foremost fields in financial studies. Bounded rationality is the basic hypothesis of behavioral finance research, which is more in line with the reality of financial markets than the completely rational assumption of modern financial theory. Based on this, behavioral finance research can explain a large part of the market “anomaly” phenomenon that modern financial theories can not explain and provide the theoretical basis for many long-standing and effective investment strategies. in