英文标题：
《Toward Economics as a New Complex System》
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作者：
Taisei Kaizoji
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最新提交年份：
2016
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英文摘要：
The 2015 Nobel Prize in Economic Sciences was awarded to Eugene Fama, Lars Peter Hansen and Robert Shiller for their contributions to the empirical analysis of asset prices. Eugene Fama [1] is an advocate of the efficient market hypothesis. The efficient market hypothesis assumes that asset price is determined by using all available information and only reacts to new information not incorporated into the fundamentals. Thus, the movement of stock prices is unpredictable. Robert Shiller [2] has been studying the existence of irrational bubbles, which are defined as the long term deviations of asset price from the fundamentals. This drives us to the unsettled question of how the market actually works. In this paper, I look back at the development of economics and consider the direction in which we should move in order to truly understand the workings of an economic society.
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中文摘要：
2015年诺贝尔经济科学奖授予尤金·法玛、拉尔斯·彼得·汉森和罗伯特·希勒，表彰他们对资产价格实证分析的贡献。尤金·法玛（EugeneFama）是有效市场假说的倡导者。有效市场假说假设资产价格是通过使用所有可用信息确定的，并且只对未纳入基本面的新信息作出反应。因此，股票价格的变动是不可预测的。罗伯特·希勒（RobertShiller）[2]一直在研究非理性泡沫的存在，非理性泡沫被定义为资产价格与基本面之间的长期偏差。这让我们想到了一个悬而未决的问题，即市场实际上是如何运作的。在本文中，我回顾了经济学的发展，并思考了我们应该朝着什么方向前进，以便真正了解经济社会的运作。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：Economics 经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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