主管:教育部
主办:中国人民大学
ISSN 0257-2826  CN 11-1454/G4

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    A Review on Heterogeneity of Investors and Bubbles in the Stock Market
    ZHOU Ye-an, SONG Xiang
    Teaching and Research    2011, (4): 64-71.  
    Abstract1236)      PDF (1652KB)(1843)       Save
    The traditional asset pricing theory often assumes that the investors are homogeneous.But this theory fails to effectively explain the bubbles in the stock market.The reality is that obvious objective and subjective differences exist among investors,leading to heterogeneous beliefs in their predictions about the market.These,in turn,have inserted important influence on asset pricing.There is evidence that recent studies have abandoned the framework of homogeneous assumption.The investor heterogeneity has been introduced to explain the excess volatility and bubbles in the stock market.They provide a new perspective for future supervision of the stock market.
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    Thirty Years of Interjurisdictional Competition during in China
    ZHOU Ye-an, SONG Zi-feng
    Teaching and Research    2009, (11): 28-36.  
    Abstract1248)      PDF (1761KB)(2046)       Save
    This paper offers a systematic discussion of the characters and consequences of interjurisdictional competitions in China since the start of reform and openness with a review of relevant literature.The authors claim that while interjurisdictional competition contributes to economic growth,it has also induced various negative consequences.Cases in point include macroeconomic fluctuation,regional protectionism,and distortion in production of public goods.
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    On Behavioral Economics by Historical Perspectives
    ZHOU Ye-an, LI Xin-yue
    Teaching and Research    2007, (8): 25-31.  
    Abstract1074)      PDF (1032KB)(1701)       Save
    The paper shows idea resources and development process of behavioral economics by historical perspectives,and think that modern behavioral economics takes root in classical political economics,and relives the tradition that was given up by new classical economics,but is which economics is.Behavioral economics gain much from cognitive psychology and management,but don’t reject methodology of new classical economics,and act new classical economics as analysis benchmark,and make innovation based this benchmark,so behavioral economics self great life force.
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    Advances in Researches on Labor Supply
    ZHOU Ye-an, ZHANG Quan
    Teaching and Research    2006, (2): 55-61.  
    Abstract1065)      PDF (939KB)(1889)       Save
    This paper attempts to offer a systematic analysis of theoretical advances in researches on labor supply during the past decades.Based on an introduction to the typical neoclassical model of individual labor supply,the paper discusses intertemporal selection,participation of the labor market,and wage endogenesis.The author observes that major development in this research area is found in empirical studies.Representative works in this respect are cited.The author also points out that the labor supply theory is directed to a new domain proposed by behavioral economics.The author then elaborated on the behavioral labor supply theory and the differences between this theory and the neoclassical model.At the end of this paper,future tendency of this theory and suggestions for future research are presented.
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    Commitment and Analyzing the Efficiency of Economic Policies
    Zhou Ye-an, Bao Lin-mei
    Teaching and Research    2005, (4): 26-33.  
    Abstract1077)      PDF (723KB)(1618)       Save
    Based on Kydland and Prescott and others’ research, this paper has focus on discussing that commitment has influence on the efficiency of economic policies. According to these ideas, commitment may help to efficiently constitute and perform economic policies through stabilizing expectation, but commitment is incomplete under environment’s uncertainty and agent’s bounded rationality, the time-inconsistency of economic policies will occur. Incomplete commitment may be good or bad for economy, efficient commitment must include flexibility. Some institutions are designed for safeguarding efficient commitment, for instance, authorizing, reputation, and constitution.
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    Recent Development of Institutional Evolution Theory
    ZHOU Ye-an
    Teaching and Research    2004, (4): 63-70.  
    Abstract1047)      PDF (822KB)(1734)       Save
    This article analyzes the institutional evolution theories developed by D. C. North, M. Aoki and A. Allan Schmid with focuses on the relationship between the institution and patterns of cognitive psychology and behaviors of the individuals, and the consequent changes in the path of institutional evolution as well. The author points out that research on institution from the perspective of individual psychology is expected to give rise to a theory of "institutional behavior".
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    Comments on Research in China’s New System Economics in 1990s
    ZHOU Ye-an
    Teaching and Research    2000, (12): 50-55.  
    Abstract1001)      PDF (607KB)(1634)       Save
    A great deal of literature has been published since 1990 to examine the process of reform. Fourmajor research areas have been addressed by most writers. They are:origin of t he system of planned econo-my , the nature, characterist ics and att ainment of the process of reform; the role of the government; andnat ure of economic organizat ions. However, the author points out , limit ations of amet hodt hat simply ana-lyzes local balance in stat icsit uations makes the researches insufficient to reveal the problems during the dy-namic processes of the reform.
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