为什么富人投资更理性而穷人消费更理性?——一个基于双系统理论的解释 阅读全文
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Title | Why the Rich Are More Rational Investors, But the Poor Are More Rational Consumers?
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作者 | 陈茁 黄少安 |
Author | Chen Zhuo and Huang Shaoan |
作者单位 | 山东大学经济研究院 |
Organization | Shandong Universtiy |
作者Email | chenzhuo@mail.sdu.edu.cn;shaoanhuang@sdu.edu.cn |
中文关键词 | 收入水平 消费理性 投资理性 双系统理论 |
Key Words | Income Equity; Rational Consumption; Rational Investment; Dual-system Theory |
内容提要 | 本文通过应用神经元经济学中的双系统理论,建模分析了经济决策者的理性程度与其财富水平间的关系。通过引入有限自我控制、鸵鸟效应等行为经济学概念,并通过剖析脑内不同脑区的互动过程,提出双系统模型并用以预测了两项经验事实:(1)决策者的理性程度随财富水平变化而变化;(2)在商品市场和金融市场中,这一变化方向是相反的,即在商品市场上,相对贫穷个体的消费行为更理性,而在金融市场上,相对富裕的个体行为更理性。本文在此基础上提出,效率与公平并非简单的此消彼长关系,当非理性经济行为广泛存在时,社会公平将有益于经济效率。 |
Abstract | This paper models and analyses the relationship between a decision maker’s degree of rationality and his wealth level. By introducing some behavioral economic concepts, such as limited self-control and ostrich effect, and describing formally the interaction among neuro-systems, this paper developed a model, predicting to empirical facts: First, the degree of rationality varies with wealth level. Second, how the degree of rationality changes with wealth varies in commodity market and financial market; that is, the poor are more rational in budgeting, while the rich are more rational in investing. Based on these predictions, this paper argues that there seems to be a more complicated relationship between efficiency and equity. A more unprejudiced economy makes is, in some sense, more efficient, when irrationality is present. |
文章编号 | WP1203 |
登载时间 | 2017-07-04 |
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