Research On Formation Mechanism Of Investment Bubble And Centipede Game Network Model Of Equilibrium-adjusted

With the development of economy and economic globalization, virtual economy developingrapidly, and bubble which affect social and economy seriously has a long contact with virtualeconomy, and excessive bubble of virtual asset has great impact on the real economy. The paperanalyze the relation between virtual economy and investment bubble and reveal the formationmechanism of investment bubble, and study the factors of affecting investment bubble, and thenprovide theoretical reference for scientific prevention and control of economic bubble.Chapter two and three of the paper pointed out that the factitious economy easy to bubble in themodern economic system and the economic virtualization is the premise of the bubble economy andexcessive virtualization will evolve into a bubble economy. The paper builds the structural equationmodel of influencing factor on economy fictitious change after analyzing the relation between virtualeconomy and investment bubble, and conducted a statistical analysis on time series based on factorsof investment bubble.Chapter four and five of the paper constructs the multi-agent-stage investment centipede gamemodel of equilibrium-adjusted, and reveals the mechanism of multi-agent-stage equilibriumadjustment, and points out the formation mechanism of bubble and classified the bubble into overallbubble, structural bubble and frictional bubble according to the characteristics of bubble formation’sprocess. The paper verifies the feasibility of existence of centipede game network model by studyingthe fictitious of the real estate market and real estate bubble. The paper points out that fictitiouseconomy and investment bubbles are closely linked and the bubble is deviated because of the divorceof fundamentals.