现代金融市场理论——基于人的行为逻辑的批判

Q4 Social Sciences

Credit and Capital Markets Pub Date : 2021-07-01 DOI:10.3790/ccm.54.3.447

Thorsten Polleit

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引用次数: 0

摘要

以有效市场假说、理性预期理论和现代投资组合理论为基础的现代金融市场理论已经成为金融市场经济学的标准方法。在这篇文章中，MFMT将使用人类行为逻辑(或:行为学)作为认识论元理论进行批判性的回顾。这将表明，MFMT表现出(实践)逻辑缺陷，因此它不能在现实世界的金融市场中为投资者提供有充分根据的决策支持。

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Modern Financial Market Theory – A Critique Based on the Logic of Human Action

The modern financial market theory (MFMT) – based on the efficient market hypothesis, rational expectation theory, and modern portfolio theory – has become the standard approach in financial market economics. In this article, the MFMT will be critically reviewed using the logic of human action (or: praxeology) as an epistemological metatheory. It will be shown that the MFMT exhibits (praxeo-)logical deficiencies so that it cannot provide investors with well-founded decision-making support in real-world financial markets.

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来源期刊

Credit and Capital Markets Social Sciences-Law

CiteScore

0.50

自引率

0.00%

发文量