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題名 從海耶克假說到動物本能:競爭性實驗市場的徑轉換
From Hayek Hypothesis to Animal Spirit:The Transition Based On Competitive Experimental Markets
作者 郭振雄
Kuo, Jenn Shyong
貢獻者 陳樹衡
Chen, Shu Heng
郭振雄
Kuo, Jenn Shyong
關鍵詞 海耶克假說
動物本能
Hayek Hypothesis
Animal Spirit
Sup & Inf function PDP
Uncertainty-adjusted efficiency
日期 1993
上傳時間 29-Apr-2016 16:30:31 (UTC+8)
摘要 By means of the experimental oral double auction markets, this
參考文獻 Bibliography [1] Arthur, IvV. B., Y. M. Eromliev, and Y. M. Kaniovski (1987), «Path-Dependent Processes and the Emergence of MacroStructure," European Journal of Operational Research, 30, 29"4-303. [2] Cover, T . IvI., and J. A. Thomas(1991), Elements of Information Theory, John Wney and Sons, Inc. [3) Daniel, B., and C. R. Plott(1988), "Inflation and Expectation in Experimental rvrarket," in R. Tietz, W. Albers and R. Selten, eds., Bounded Rational Behavior in Experimental Games and lvlarkets, Lecture Notes in Economics and :Mathematical System no. 314, Berlin/Heidelberg: Spring-Verlag. [4] Davidsoll, P. (1991), "Is Probability Theory Relevant for Uncertainty? A Post Keynesian Perspective," Journal of Economic Perspectives, Vol. 5, No.1, 129-143. [5] Friedman, Daniel (1984), `On the Efficiency of Experimental Double Auction Markets,` American Economic Review, 74, 60-7l. [6] Grossman, S. J. and J. E. Stiglitz (1980), (( On the Impossibility of Informationally Efficient Markets," American Economic Review, 70, 393-408. [7J Haller, H. (1990), "Large Random Graphs in Pseudo-Metric Space," Mathematical Social Science, •20, 165-193. [8J Hayek, F. A.(1945), "The Use of Knowledge in Society," American Economic Review, 54, 519-530. [9J Howitt, P. and R. P. McAfee (1992), "Animal Spirits," American Economic Review, 82, 493-507. [10] Ioannides, Y. M. (1990), "Trading Uncertainty and Nlarket Form", International Economic Review, 31, 619-638. [11] Ketcham, Jon, Smith, Vernon 1., and Williams, Arlington W. (1984), "A Comparison of Posted-Offer and Double-Auction Pricing Institutions," Review of Economic Studies, 595-614. [12] Keynes, J. M. (1936), The General Theory of Employment Interest and Money} Macmillan and Co., Limited. [13] Kirman, A. P. (1983), "Communication in Market- A Suggested Approach," Economics Letters, 12, 101-108. [14] Kirman, A. P. (1992), "Whom or What Does the Representative Individual Represent ?," The Journal of Economic Perspectives, 6,117-136. [15] Koopomans, T. C. (1957), The Three Essays on the State of Economic Science} New York: McGraw-Hill Book Co. [16] Merrill, O. H. (1972), "Application and Extension of an Alogrithm that Computes Fixed Points of Certain Upper Semi-Continous Point to Set Mapping," Ph.D. thesis, • Department of Industrial Engineering, University of Michigan. [17] O`Neill, W. D. (1987), "An Application of Shannon`s Coding Theorem to Information Transmission in Econonic Markets," Information Science, 41, 171-185. [18] Plott, C. R. (1982), "Industrial Organization Theory and Exper-. imental -Economics," Journal of Economics Literature, 20, 1485-527. [19] Plott, C. R. (1989), "An Updated Rivew of Industral Organization Application of Experimental Methods," in Schmalensee, R. and Willig, R. D. (ed), Handbook of Industrial Organization, Elsevier, vol. II, 1111-76. [20] Plott, C. R. and V. L. Smith(1978), «An Experimental Examination of Two Exchange Institutions," Review of Economic Studies,45,133-53. [21] Plott, Charles R. and Sunder, Shyam, (1982), ` Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectations Moelles` , Journal of Political Economic, 90, 663-698. [22] Ray, W. O. (1988), Real Analysis, Prentic Hall. [23] Scarf, H. E. (1967), "The Approximation of Fixed Points of a Continous Mapping," Journal of Applied lvIathematics, 15, 1328-1343. [24] Scarf, H. E. (with T. Hansen) (1973), The Computation of Economic Equilibria. New Haven: Yale University Press. [25] Simon, H. A. (1956), " Dynamic Programming Under Uncertainty with a Quadratic Criterion Function," Econometrica, 24, 74-81. [26] Smith, V. L. (1962), "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, 70, 111-37. [27] Smith, Vrenon L: (1964), `Effect of Market Organization on Competitive Equilibrium,` Quartly Journal of Economics, 2, 181-201. [28J Smith, V. L. (1976), "Experimental Economics: Induced Value Theory," American Economic Review, 66, 274-9 . [29] Smith, V. L. (1982), "Microeconomic Systems as An Experimental Science," American Economic Review, 72, 923-955. [30] Smith, V. L., A. VV. William(1982), "The Effect of Rent Asymmetries in Experimental Auction Market." Journal of Economic Behavior and Organization, 3, 99-116. [31] Spear, S. (1989), "Learning Rational Expectatinon under Computability Constraints," Econometrica, Vol. 57, No.4., 889-910 . [32] Thomsen, E. F. (1992), Price and Knowledge- a Market-Process Perspective) London: Routledge. [33J Topol, R. (1991), "Bubble and VolatHity of Stock Prices: Effect of .tvlimetic Contagion," The Economic Journal, 101, 786-800. [34] vVilliam, A. W. (1980), "Computerized Double-Auction Market: Some Initial Experimental Result," Journal of Business, 53, 235-258. [35] vVilliam, A. VV., and V. L. Smith(1984), "Cyclical Double-Auction Market with and without Speculation," Journal of Business, 57,319-351. [36] Williamson, O. E. (1957), Markets and Hierarchies: Analysis and Antitrust Implications) New York: Free Press. [37] Woodford, M. (1991), "Self-Fulfilling Expectations and Fluctuation in Aggregate Demand," In Nlankiw, N. G. and D. Romer (eds.), New Keynesian 1vlacroeconomics} Cambridge, Mass.:MIT Press.
描述 碩士
國立政治大學
經濟學系
G80258019
資料來源 http://thesis.lib.nccu.edu.tw/record/#B2002004225
資料類型 thesis
dc.contributor.advisor 陳樹衡zh_TW
dc.contributor.advisor Chen, Shu Hengen_US
dc.contributor.author (Authors) 郭振雄zh_TW
dc.contributor.author (Authors) Kuo, Jenn Shyongen_US
dc.creator (作者) 郭振雄zh_TW
dc.creator (作者) Kuo, Jenn Shyongen_US
dc.date (日期) 1993en_US
dc.date.accessioned 29-Apr-2016 16:30:31 (UTC+8)-
dc.date.available 29-Apr-2016 16:30:31 (UTC+8)-
dc.date.issued (上傳時間) 29-Apr-2016 16:30:31 (UTC+8)-
dc.identifier (Other Identifiers) B2002004225en_US
dc.identifier.uri (URI) https://ah.lib.nccu.edu.tw/item?item_id=100563-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 經濟學系zh_TW
dc.description (描述) G80258019zh_TW
dc.description.abstract (摘要) By means of the experimental oral double auction markets, thisen_US
dc.description.tableofcontents 1 Motivation and Introduction 1 2 Experimental Design and Procedure 10 2.1 Experimental Design . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 2.2 Experimental Procedure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 3 Experimental Results 19 3.1 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 3.1.1 Efficiency: E(t) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 3.1.2 Trading Volume: q(t) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 3.1.3 Contract Prices: p(t) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25 3.2 Convergence of Contract Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 3.2.1 Relative Adjustment Speed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 3.3 Efficiency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 3.3.1 The Inf Function and Weakly Observable Learning . . . . . . . . . . . . . . 33 3.3.2 The Sup Function and Strongly Observable Learning . . . . . . . . . . . . .34 3.4 Distance from the Theoretical Equilibrium: P-Q Norm . . . . . . . . . . . . . . . . .40 3.5 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42 4 Concluding Remarks 45 5 Appendix 63 .1 簡介. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 .2 簡介一號. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 .2.1 事件發生的產生方式. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 .3 簡介二號. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 .3.1 一般簡介. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65 .3.2 賣方簡介. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 .3.3 買方簡介. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 .3.4 買方簡介. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 .3.5 市場結構. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 .3.6 Advertisement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71 Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .77zh_TW
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#B2002004225en_US
dc.subject (關鍵詞) 海耶克假說zh_TW
dc.subject (關鍵詞) 動物本能zh_TW
dc.subject (關鍵詞) Hayek Hypothesisen_US
dc.subject (關鍵詞) Animal Spiriten_US
dc.subject (關鍵詞) Sup & Inf function PDPen_US
dc.subject (關鍵詞) Uncertainty-adjusted efficiencyen_US
dc.title (題名) 從海耶克假說到動物本能:競爭性實驗市場的徑轉換zh_TW
dc.title (題名) From Hayek Hypothesis to Animal Spirit:The Transition Based On Competitive Experimental Marketsen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Bibliography [1] Arthur, IvV. B., Y. M. Eromliev, and Y. M. Kaniovski (1987), «Path-Dependent Processes and the Emergence of MacroStructure," European Journal of Operational Research, 30, 29"4-303. [2] Cover, T . IvI., and J. A. Thomas(1991), Elements of Information Theory, John Wney and Sons, Inc. [3) Daniel, B., and C. R. Plott(1988), "Inflation and Expectation in Experimental rvrarket," in R. Tietz, W. Albers and R. Selten, eds., Bounded Rational Behavior in Experimental Games and lvlarkets, Lecture Notes in Economics and :Mathematical System no. 314, Berlin/Heidelberg: Spring-Verlag. [4] Davidsoll, P. (1991), "Is Probability Theory Relevant for Uncertainty? A Post Keynesian Perspective," Journal of Economic Perspectives, Vol. 5, No.1, 129-143. [5] Friedman, Daniel (1984), `On the Efficiency of Experimental Double Auction Markets,` American Economic Review, 74, 60-7l. [6] Grossman, S. J. and J. E. Stiglitz (1980), (( On the Impossibility of Informationally Efficient Markets," American Economic Review, 70, 393-408. [7J Haller, H. (1990), "Large Random Graphs in Pseudo-Metric Space," Mathematical Social Science, •20, 165-193. [8J Hayek, F. A.(1945), "The Use of Knowledge in Society," American Economic Review, 54, 519-530. [9J Howitt, P. and R. P. McAfee (1992), "Animal Spirits," American Economic Review, 82, 493-507. [10] Ioannides, Y. M. (1990), "Trading Uncertainty and Nlarket Form", International Economic Review, 31, 619-638. [11] Ketcham, Jon, Smith, Vernon 1., and Williams, Arlington W. (1984), "A Comparison of Posted-Offer and Double-Auction Pricing Institutions," Review of Economic Studies, 595-614. [12] Keynes, J. M. (1936), The General Theory of Employment Interest and Money} Macmillan and Co., Limited. [13] Kirman, A. P. (1983), "Communication in Market- A Suggested Approach," Economics Letters, 12, 101-108. [14] Kirman, A. P. (1992), "Whom or What Does the Representative Individual Represent ?," The Journal of Economic Perspectives, 6,117-136. [15] Koopomans, T. C. (1957), The Three Essays on the State of Economic Science} New York: McGraw-Hill Book Co. [16] Merrill, O. H. (1972), "Application and Extension of an Alogrithm that Computes Fixed Points of Certain Upper Semi-Continous Point to Set Mapping," Ph.D. thesis, • Department of Industrial Engineering, University of Michigan. [17] O`Neill, W. D. (1987), "An Application of Shannon`s Coding Theorem to Information Transmission in Econonic Markets," Information Science, 41, 171-185. [18] Plott, C. R. (1982), "Industrial Organization Theory and Exper-. imental -Economics," Journal of Economics Literature, 20, 1485-527. [19] Plott, C. R. (1989), "An Updated Rivew of Industral Organization Application of Experimental Methods," in Schmalensee, R. and Willig, R. D. (ed), Handbook of Industrial Organization, Elsevier, vol. II, 1111-76. [20] Plott, C. R. and V. L. Smith(1978), «An Experimental Examination of Two Exchange Institutions," Review of Economic Studies,45,133-53. [21] Plott, Charles R. and Sunder, Shyam, (1982), ` Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectations Moelles` , Journal of Political Economic, 90, 663-698. [22] Ray, W. O. (1988), Real Analysis, Prentic Hall. [23] Scarf, H. E. (1967), "The Approximation of Fixed Points of a Continous Mapping," Journal of Applied lvIathematics, 15, 1328-1343. [24] Scarf, H. E. (with T. Hansen) (1973), The Computation of Economic Equilibria. New Haven: Yale University Press. [25] Simon, H. A. (1956), " Dynamic Programming Under Uncertainty with a Quadratic Criterion Function," Econometrica, 24, 74-81. [26] Smith, V. L. (1962), "An Experimental Study of Competitive Market Behavior," Journal of Political Economy, 70, 111-37. [27] Smith, Vrenon L: (1964), `Effect of Market Organization on Competitive Equilibrium,` Quartly Journal of Economics, 2, 181-201. [28J Smith, V. L. (1976), "Experimental Economics: Induced Value Theory," American Economic Review, 66, 274-9 . [29] Smith, V. L. (1982), "Microeconomic Systems as An Experimental Science," American Economic Review, 72, 923-955. [30] Smith, V. L., A. VV. William(1982), "The Effect of Rent Asymmetries in Experimental Auction Market." Journal of Economic Behavior and Organization, 3, 99-116. [31] Spear, S. (1989), "Learning Rational Expectatinon under Computability Constraints," Econometrica, Vol. 57, No.4., 889-910 . [32] Thomsen, E. F. (1992), Price and Knowledge- a Market-Process Perspective) London: Routledge. [33J Topol, R. (1991), "Bubble and VolatHity of Stock Prices: Effect of .tvlimetic Contagion," The Economic Journal, 101, 786-800. [34] vVilliam, A. W. (1980), "Computerized Double-Auction Market: Some Initial Experimental Result," Journal of Business, 53, 235-258. [35] vVilliam, A. VV., and V. L. Smith(1984), "Cyclical Double-Auction Market with and without Speculation," Journal of Business, 57,319-351. [36] Williamson, O. E. (1957), Markets and Hierarchies: Analysis and Antitrust Implications) New York: Free Press. [37] Woodford, M. (1991), "Self-Fulfilling Expectations and Fluctuation in Aggregate Demand," In Nlankiw, N. G. and D. Romer (eds.), New Keynesian 1vlacroeconomics} Cambridge, Mass.:MIT Press.zh_TW