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| 证券市场流动性与交易者群体变动的混沌研究 | |
| 引用本文： | 庄新田,黄小原. 证券市场流动性与交易者群体变动的混沌研究[J]. 管理科学学报, 2002, 5(6): 34-38 |
| 作者姓名： | 庄新田 黄小原 |
| 作者单位： | 东北大学工商管理学院,沈阳,110004 |
| 基金项目： | 辽宁省自然科学基金资助项目(9910200208). |
| 摘 要： | 从证券市场微观结构角度,利用交易者群体可变的动态模型,分别在确定与不确定性金融环境下,研究离散交易状态下市场的形成过程,并分析了交易者群体变动的混沌条件. 结果表明,市场流动性的最低标准是买卖双方的交易者群体要有一个恰当的比例,市场达到稳定流动性的时间与描述离开股市交易者的参数有关,通过交易制度对交易者群体参数的影响,可实现对市场过程的控制,最后给出仿真计算. |
| 关 键 词： | 证券市场 流动性 交易者群体 混沌 仿真 |
| 文章编号： | 1007-9807(2002)06-0034-05 |
| 修稿时间： | 2001-06-15 |
Research of securities market liquidity and chaos of bargainer colony change |
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| Abstract: | From the angle of the microcosmic structure of the securities market , using alterable dynamic model ofthe bargainer colony , separately under ascertained and incertitude finance circumstance , we have studied the formprocess of the market under disperse bargaining estate and we have analysis chaos conditions of bargainer colony ofalteration. Result indicates that lowest standard of market liquidity is that bargainer colony of buyer and seller bothmust have an appropriate proportion. The time achieving stable liquidity of the market has relation to parameter forbargainer to leave the stock market . Through influence of bargaining system on parameter of bargainer colony , thecontrol of market process can be realized. Finally simulation calculation is given. |
| Keywords: | securities market liquidity bargainer colony chaos simulation |
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