Capital Markets Price Bubble And Market Appropriate Scale Analysis

The price bubbles of asset are normal phenomena in the capital market, and within reasonable bounds the price bubbles of asset will not risk the running of the capital market. However, if the asset price has severe bubbles, the break of the bubbles will result in serious risk to a country's finance system and even to the whole economy system. Therefore, to keep the stable operation of the finance system and sustaining development of the economy, the analysis of the reasons for their formation and evolutionary mechanism, and the suitability analysis of the size of market value based on them are both absolutely necessary.This thesis mainly focus on the research of the fundamental theory, the construction of the application framework and the design of the practical method. This thesis is divided into three parts.The first part refers to the first chapter. It's the summarization of the whole thesis. First, this chapter gives an overview of the theoretical study of the capital market bubbles , then defines some basic concepts of this field, in the end presents the area of research, the arrangement of the integral structure, the innovations of the research and questions which need to study further.The second part include the second and the third chapters.The second chapter respectively analyzes the reasons for the formation and evolutionary mechanism of the bubbles of the capital market within the frameworks of the rational expectation and behavioral finance. Due to the perfect results from those two projects, the writer only analyzes this part briefly.The third chapter studies the reasons for the formation and evolutionary mechanism of the bubbles of the capital market under the nonlinear paradigms. The writer analyzes the behavior characteristic of the asset price in the capital...