摘要
笔者利用合期望效用理论与二阶随机占优理论，选取2000年～2011年的彩票、存款、股票等数据样本，对中国居民投资偏好变化规律进行剖析，结果发现当前中国居民投资日趋理性，风险偏好呈现出“风险中性占主导；风险偏好居中；风险回避减弱”的现象，进而指出需要完善和规范资本市场的重要性。
With the growth of Chinese residents wealth, the ability against the risk of Chinese residents is also increasing. Does the Chinese residents＇ investment psychology also follow this rule.9 Based on this point, this paper applies the expected utility theory and second stochastic dominance theory, by using the sample of lottery, deposit and stock datum between 1994 -2011, to analyze the changes of Chinese residents＇ investment preference . At last , we draw a conclusion that the current Chinese household investment is more rational. Then we summarize a phenomenon of risk preference that is ＂risk neutral is dominant; risk preference is central ; risk avoidance is weakened＂. At last we point out the importance of improving and standardizing the capital market.
出处
《经济经纬》
CSSCI
北大核心
2014年第6期137-142,共6页
Economic Survey
基金
教育部人文社会科学研究规划基金项目(11JYA790048)
福建省教育厅项目(JA11273S)
关键词
偏好
期望效用理论
二阶随机占优理论
风险
Preference
Expected Utility Theory
Second Stochastic Dominance Theory
Risk
