The Research In China Stock Market Based On Game Theroy

A healthy stock market has very special importance to a sound economy.Since its establishment,China's stock market has seen rather rapid growth and formed a fundamental mechanism in a comparatively short period of time.With the full affirmation to great achievement of our stock market,we should also clearly realize that our country stock market is still immature and has many problems.China's stock market has been depressing for quite a long time and the problems left over by history has become more and more serious now.There are full of irrational phenomena in Chinese stock market.Actually Chinese stock market has go into a dangerous situation,thereby it has been paid attention to how to pile out and walk up a broad road by all circles.Game theroy is the theroy which researches issues of straegy-making of many participants.It becomes one of the most common analytical tools in modern economics.This thesis tries to apply the game theory to the financial market of China and analyses relevant issues of Chinese financial market from angle of game theroy .The first part reviews the outline of game theroy and its development history.At the same time it points out that the operation of the financial market is the game of financial market players.It is practical to apply the game theroy in analyzing the player's activity.The second part analyzes the participant's present conditions of out stock market,and gives an explicit definition of the three mainly-existed participants:Government,listed companies and investors.The last part illuminates how irrational microbehavior of stock market come into being,and find out that this is rooted in institutional disfigurement of China'sstock market.