{"id":6040,"date":"2018-03-14T15:31:14","date_gmt":"2018-03-14T07:31:14","guid":{"rendered":"http:\/\/www.chinado.cn\/?p=6040"},"modified":"2018-03-14T15:31:14","modified_gmt":"2018-03-14T07:31:14","slug":"%e7%90%86%e6%9f%a5%e5%be%b7%c2%b7%e5%a1%9e%e5%8b%92%e8%a1%8c%e4%b8%ba%e7%bb%8f%e6%b5%8e%e5%ad%a6%e7%90%86%e8%ae%ba%e5%8f%8a%e5%ae%9e%e8%b7%b5","status":"publish","type":"post","link":"https:\/\/cdo.develpress.com\/?p=6040","title":{"rendered":"\u7406\u67e5\u5fb7\u00b7\u585e\u52d2\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7406\u8bba\u53ca\u5b9e\u8df5"},"content":{"rendered":"<p style=\"text-indent:2em;\" class=\"p1\">\u9ec4 \u73ca<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">2017<\/span>\u5e74<span class=\"s1\">10<\/span>\u6708<span class=\"s1\">9<\/span>\u65e5\uff0c\u7f8e\u56fd\u829d\u52a0\u54e5\u5927\u5b66\u6559\u6388\u7406\u67e5\u5fb7<span class=\"s1\">\u00b7<\/span>\u585e\u52d2\uff08<span class=\"s2\">Richard H. Thaler<\/span>\uff09\u83b7\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u3002\u745e\u5178\u7687\u5bb6\u79d1\u5b66\u9662\u8bc4\u59d4\u4f1a\u8868\u793a\uff0c\u585e\u52d2\u957f\u671f\u5728\u7ecf\u6d4e\u5b66\u548c\u5fc3\u7406\u5b66\u7684\u4ea4\u53c9\u9886\u57df\u8fdb\u884c\u7814\u7a76\uff0c \u8ba9\u7ecf\u6d4e\u5b66\u201c\u66f4\u4eba\u6027\u5316\u201d\u3002\u585e\u52d2\u7684\u7406\u8bba\u6311\u6218\u4e86\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bbe\uff0c\u8ba4\u4e3a\u4eba\u6027\u662f\u590d\u6742\u7684\uff0c\u8ffd\u6c42\u5229\u76ca\u6700\u5927\u5316\u7684\u5047\u8bbe\u6709\u65f6\u662f\u4e0d\u5b58\u5728\u7684\u3002\u4ed6\u7684\u5b9e\u8bc1\u7814\u7a76\u548c\u7406\u8bba\u89c2\u70b9\uff0c\u63a8\u8fdb\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5411\u66f4\u6df1\u5c42\u6b21\u53d1\u5c55\uff0c\u5bf9\u7ecf\u6d4e\u7406\u8bba\u53d1\u5c55\u4ea7\u751f\u4e86\u6df1\u8fdc\u7684\u5f71\u54cd\u3002\u672c\u6587\u8bd5\u56fe\u4ece\u5386\u53f2\u80cc\u666f\u3001\u585e\u52d2\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7684\u7406\u8bba\u7efc\u8ff0\u3001\u7b80\u8981\u8bc4\u4ef7\u7b49\u51e0\u4e2a\u65b9\u9762\uff0c\u4ecb\u7ecd\u884c\u4e3a\u7ecf\u6d4e\u5b66\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u5386\u53f2\u80cc\u666f\u53ca\u53d1\u5c55\u5386\u7a0b<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u8ffd\u6eaf\u4e9a\u5f53<span class=\"s1\">\u00b7<\/span>\u65af\u5bc6\u65f6\u671f\u7684\u7ecf\u6d4e\u5b66\u7406\u8bba\uff0c\u6700\u91cd\u8981\u7684\u4e00\u70b9\u4fbf\u662f\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bbe\uff1a\u505a\u51b3\u7b56\u7684\u7ecf\u6d4e\u4e3b\u4f53\u603b\u662f\u7406\u6027\u7684\uff0c\u5e76\u4e14\u8ffd\u6c42\u5229\u76ca\u6700\u5927\u5316\u2014\u2014\u6d88\u8d39\u8005\u8ffd\u6c42\u6548\u7528\u6700\u5927\u5316\uff0c\u5382\u5546\u8ffd\u6c42\u5229\u6da6\u6700\u5927\u5316\uff0c\u8981\u7d20\u6240\u6709\u8005\u8ffd\u6c42\u6536\u5165\u6700\u5927\u5316\uff0c \u653f\u5e9c\u8ffd\u6c42\u51b3\u7b56\u6700\u4f18\u5316\u3002\u5728\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bbe\u4e0b\uff0c\u5404\u4e3b\u4f53\u7684\u7406\u6027\u884c\u4e3a\u4f7f\u5f97\u5e02\u573a\u8fbe\u5230\u5747\u8861\uff0c\u5747\u8861\u4ef7\u683c\u5305\u542b\u6240\u6709\u4fe1\u606f\u53ca\u9009\u62e9\u504f\u597d\uff0c\u6210\u4e3a\u6709\u6548\u7684\u8d44\u6e90\u914d\u7f6e\u624b\u6bb5\u3002\u81ea\u6b64\uff0c\u4ee5\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u4e3a\u57fa\u672c\u5047\u8bbe\u7684\u65b0\u53e4\u5178\u7ecf\u6d4e\u5b66\u9010\u6b65\u6f14\u53d8\u6210\u4e3a\u4e00\u4e2a\u7528\u6570\u5b66\u8bed\u8a00\u8868\u8fbe\u7684\u3001\u903b\u8f91\u81ea\u6d3d\u7684\u516c\u7406\u4f53\u7cfb\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u5c3d\u7ba1\u65b0\u53e4\u5178\u7ecf\u6d4e\u5b66\u5728\u7ecf\u6d4e\u5b66\u7406\u8bba\u4e2d\u5360\u6709\u8f83\u9ad8\u5730\u4f4d\uff0c\u5e2e\u52a9\u4eba\u7c7b\u7406\u89e3\u793e\u4f1a\u73b0\u8c61\u548c\u7ecf\u6d4e\u884c\u4e3a\uff0c\u4f46\u662f\u8fd1\u5e74\u6765\uff0c\u4e0d\u65ad\u8d70\u5411\u6570\u7406\u5316\u3001\u5f62\u5f0f\u5316\u3001\u5de5\u5177\u5316\uff0c\u7528\u62bd\u8c61\u903b\u8f91\u7cfb\u7edf\u6a21\u62df\u73b0\u5b9e\u7ecf\u6d4e\u8fd0\u52a8\uff0c\u89e3\u91ca\u529b\u548c\u5224\u65ad\u529b\u9010\u6b65\u51cf\u5f31\uff0c\u4e5f\u56e0\u6b64\u53d7\u5230\u6279\u5224\u3002\u4f20\u7edf\u7ecf\u6d4e\u5b66\u7406\u8bba\u5ffd\u89c6\u4e86\u4eba\u7684\u5343\u5dee\u4e07\u522b\uff0c\u53ea\u7528\u5355\u4e00\u5316\u3001\u5177\u4f53\u5316\u7684\u6a21\u578b\u5c06\u4eba\u4eec\u7684\u884c\u4e3a\u7edf\u4e00\u3002<span class=\"s1\">20<\/span>\u4e16\u7eaa<span class=\"s1\">80<\/span>\u5e74\u4ee3\uff0c \u4ee5\u7406\u67e5\u5fb7<span class=\"s1\">\u00b7<\/span>\u585e\u52d2\u4e3a\u9996\u7684\u5b66\u8005\u5bf9\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bbe\u63d0\u51fa\u8d28\u7591\u3002\u4ed6\u4eec\u5438\u6536\u5fc3\u7406\u5b66\u7406\u8bba\uff0c\u63d0\u51fa\u201c\u975e\u7406\u6027\u4eba\u201d\u6982\u5ff5\u3002<span class=\"s1\">1994<\/span>\u5e74\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u6b63\u5f0f\u521b\u7acb\u3002<span class=\"s1\">2002<\/span>\u5e74\uff0c\u5fc3\u7406\u5b66\u5bb6\u4e39\u5c3c\u5c14<span class=\"s1\">\u00b7<\/span>\u5361\u5185\u66fc\u548c\u7ecf\u6d4e\u5b66\u5bb6\u5f17\u519c<span class=\"s1\">\u00b7<\/span>\u53f2\u5bc6\u65af\u5171\u540c\u83b7\u5f97\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\uff0c\u662f\u884c\u4e3a\u7ecf\u6d4e\u5b66\u771f\u6b63\u610f\u4e49\u4e0a\u9996\u6b21\u83b7\u5956\u3002\u6b64\u5916\uff0c\u8d6b\u6ce2\u7279<span class=\"s1\">\u00b7<\/span>\u897f\u8499\uff08<span class=\"s2\">1978\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u83b7\u5f97\u8005<\/span>\uff09\u3001\u4e54\u6cbb<span class=\"s1\">\u00b7<\/span>\u963f\u514b\u6d1b\u592b\uff08<span class=\"s2\">2001\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u83b7\u5f97\u8005<\/span>\uff09\uff0c\u4e39\u5c3c\u5c14<span class=\"s1\">\u00b7<\/span>\u9ea6\u514b\u6cd5\u767b\uff08<span class=\"s2\">2000\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u83b7\u5f97\u8005<\/span>\uff09\u3001\u6258\u9a6c\u65af<span class=\"s1\">\u00b7<\/span>\u514b\u7f57\u59c6\u6bd4<span class=\"s1\">\u00b7<\/span>\u8c22\u6797\uff08<span class=\"s2\">2005\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u83b7\u5f97\u8005<\/span>\uff09\u3001\u7f57\u4f2f\u7279<span class=\"s1\">\u00b7<\/span>\u5e2d\u52d2\uff08<span class=\"s2\">2013\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u83b7\u5f97\u8005<\/span>\uff09\u7b49\u4e5f\u88ab\u5b66\u672f\u754c\u89c6\u4e3a\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5bb6\u3002\u4f34\u968f\u7740\u7ecf\u6d4e\u5b66\u7406\u8bba\u7684\u6df1\u5165\u53d1\u5c55\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u76f8\u7ee7\u95ee\u9f0e\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u585e\u52d2\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7684\u4e3b\u8981\u8d21\u732e<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u6b63\u5982\u9881\u5956\u8bcd\u6240\u8bf4\uff0c\u201c\u7406\u67e5\u5fb7<span class=\"s1\">\u00b7<\/span>\u585e\u52d2\u8fd0\u7528\u5fc3\u7406\u5b66\u5047\u8bbe\u5bf9\u73b0\u5b9e\u7ecf\u6d4e\u51b3\u7b56\u8fdb\u884c\u5206\u6790\u3002\u901a\u8fc7\u63a2\u7a76\u6709\u9650\u7406\u6027\u3001\u793e\u4f1a\u504f\u597d\u4ee5\u53ca\u81ea\u6211\u63a7\u5236\u7684\u7f3a\u5931\uff0c\u4ed6\u6f14\u793a\u51fa\u8fd9\u4e9b\u4eba\u7c7b\u7279\u6027\u600e\u6837\u7cfb\u7edf\u6027\u5730\u5f71\u54cd\u4e2a\u4eba\u51b3\u5b9a\u53ca\u5e02\u573a\u7ed3\u679c\u201d\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">1.\u6709\u9650\u7406\u6027\uff1a\u5fc3\u7406\u8d26\u6237<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u585e\u52d2\u7684\u7406\u8bba\u8ba4\u4e3a\uff0c\u6bcf\u4e2a\u4eba\u90fd\u6709\u5fc3\u7406\u8d26\u6237\u3002\u4f8b\u5982\uff0c\u8d4c\u5f92\u4e0b\u8d4c\u6ce8\u65f6\uff0c\u901a\u5e38\u4f1a\u533a\u5206\u672c\u91d1\u548c\u8d62\u6765\u7684\u94b1\uff0c\u8fd9\u662f\u7531\u4e8e\u4ed6\u5185\u5fc3\u7684\u5fc3\u7406\u8d26\u6237\u5728\u8d77\u4f5c\u7528\uff08<span class=\"s2\">Thaler &amp; Johnson\uff0c1990<\/span>\uff09\u3002\u5fc3\u7406\u8d26\u6237\u610f\u5473\u7740\u4eba\u4eec\u5185\u5fc3\u5b58\u5728\u53c2\u8003\u70b9\uff0c\u5728\u6d88\u8d39\u548c\u50a8\u84c4\u65f6\u4f1a\u81ea\u6211\u63a7\u5236\uff0c\u4e3a\u4e86\u5b9e\u73b0\u76ee\u6807\u5bf9\u5404\u79cd\u7ecf\u6d4e\u884c\u4e3a\u8fdb\u884c\u5206\u7c7b\uff0c\u4ee5\u6b64\u7b80\u5316\u4ea4\u6613\u51b3\u7b56\u3002\u80a1\u7968\u5e02\u573a\u4e2d\uff0c\u5927\u591a\u6570\u4eba\u4f1a\u4ee5\u4e70\u5165\u4ef7\u4e3a\u57fa\u51c6\uff0c\u6765\u51b3\u5b9a\u662f\u5426\u5356\u51fa\u80a1\u7968\u3002\u4f46\u4e8b\u5b9e\u4e0a\uff0c\u7531\u4e8e\u6295\u8d44\u8005\u4f17\u591a\uff0c\u80a1\u7968\u4ef7\u683c\u7684\u6ce2\u52a8\u4e0e\u6bcf\u4e2a\u4eba\u7684\u5356\u51fa\u4ef7\u6216\u4e70\u5165\u4ef7\u5e76\u4e0d\u76f4\u63a5\u76f8\u5173\u3002\u4f46\u662f\uff0c\u6295\u8d44\u8005\u8fd8\u662f\u503e\u5411\u4e8e\u5728\u80a1\u7968\u76c8\u5229\u65f6\u5356\u51fa\uff0c\u5728\u4e8f\u635f\u65f6\u6301\u6709\u6216\u7ee7\u7eed\u89c2\u671b\uff0c\u4f46\u8fd9\u672c\u8eab\u53ef\u80fd\u5e76\u4e0d\u662f\u5b8c\u5168\u7406\u6027\u7684\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u53e6\u5916\uff0c\u7531\u4e8e\u5fc3\u7406\u53c2\u8003\u70b9\u7684\u5b58\u5728\uff0c\u585e\u52d2\u8ba4\u4e3a\u6295\u8d44\u8005\u5f80\u5f80\u5bf9\u80a1\u5e02\u4e2d\u7684\u65b0\u51b2\u51fb\u8fc7\u5ea6\u654f\u611f\uff0c\u800c\u5ffd\u89c6\u5176\u4ed6\u56e0\u7d20\u3002\u585e\u52d2\u53d1\u73b0\uff08<span class=\"s2\">Shlomo &amp; Thaler\uff0c1995<\/span>\uff09 \u80a1\u4ef7\u77ed\u671f\u4e0b\u8dcc\u5f80\u5f80\u4f1a\u4f7f\u6295\u8d44\u8005\u653e\u5f03\u957f\u671f\u7684\u9ad8\u56de\u62a5\u7387\uff0c\u4ece\u800c\u9009\u62e9\u6295\u8d44\u4e8e\u5e73\u5747\u6536\u76ca\u4e0d\u9ad8\u3001\u6536\u76ca\u6ce2\u52a8\u8f83\u5c0f\u7684\u80a1\u7968\u3002\u540c\u6837\u7684\uff0c\u6295\u8d44\u8005\u5fc3\u6001\u4e5f\u4f1a\u53d7\u5230\u5b63\u8282\u3001\u6708\u4efd\u3001\u8282\u65e5\u7b49\u7684\u5f71\u54cd\uff0c\u8fd9\u8fdb\u4e00\u6b65\u89e3\u91ca\u4e86\u80a1\u5e02\u4e2d\u968f\u7740\u65f6\u95f4\u53d8\u5316\u51fa\u73b0\u7684\u53cd\u5e38\u73b0\u8c61\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">2.\u793e\u4f1a\u504f\u597d\uff1a\u516c\u5e73\u7406\u8bba<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s1\">1985<\/span>\u5e74\uff0c\u585e\u52d2\u5bf9\u5784\u65ad\u4ef7\u683c\u8fdb\u884c\u4e86\u5206\u6790\u3002\u585e\u52d2\u8ba4\u4e3a\uff0c\u4eba\u4eec\u7684\u793e\u4f1a\u5c5e\u6027\u5728\u4e8e\u8ffd\u6c42\u516c\u5e73\uff0c\u5784\u65ad\u4ef7\u683c\u5bf9\u6d88\u8d39\u8005\u6765\u8bf4\u5b58\u5728\u4e0d\u516c\u5e73\u3001\u4e0d\u5408\u7406\u6027\u3002\u53cd\u5e94\u5230\u5904\u4e8e\u5784\u65ad\u5730\u4f4d\u7684\u5382\u5546\uff0c\u4e5f\u4f1a\u8003\u8651\u6d88\u8d39\u8005\u5229\u76ca\u800c\u975e\u76f2\u76ee\u6807\u4ef7\u3002\u56e0\u6b64\u5784\u65ad\u5546\u54c1\u7684\u4ef7\u683c\u4e00\u822c\u4e5f\u4f1a\u5904\u4e8e\u4f20\u7edf\u7ecf\u6d4e\u7406\u8bba\u6240\u9884\u671f\u8303\u56f4\u5185\uff0c\u4ee5\u4fbf\u6d88\u8d39\u8005\u63a5\u53d7\u3002\u53e6\u5916\uff0c \u7531\u4e8e\u6d88\u8d39\u8005\u5bf9\u516c\u5e73\u7684\u8ffd\u9010\uff0c\u7531\u539f\u6750\u6599\u6210\u672c\u4e0a\u5347\u5bfc\u81f4\u7684\u4ef7\u683c\u4e0a\u6da8\u66f4\u6613\u4e8e\u88ab\u63a5\u53d7\uff1b\u4f46\u4ea7\u54c1\u9700\u6c42\u91cf\u589e\u52a0\u5bfc\u81f4\u7684\u5382\u5546\u63d0\u4ef7\u5219\u96be\u4ee5\u88ab\u63a5\u53d7\u3002\u540c\u65f6\uff0c\u4eba\u4eec\u5bf9\u516c\u5e73\u7684\u7406\u89e3\u4e5f\u4f1a\u968f\u7740\u65f6\u95f4\u7684\u63a8\u79fb\u3001\u6d88\u8d39\u7ecf\u9a8c\u7684\u79ef\u7d2f\u7b49\u800c\u53d8\u5316\uff0c\u9010\u6e10\u8fbe\u5230\u5e02\u573a\u516c\u8ba4\u7684\u516c\u5e73\u72b6\u6001\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u585e\u52d2\u66fe\u7528\u201c\u72ec\u88c1\u8005\u535a\u5f08\u6e38\u620f\u201d \u7814\u7a76\u4eba\u4eec\u5bf9\u516c\u5e73\u7684\u8ffd\u9010\u3002\u201c\u72ec\u88c1\u8005\u535a\u5f08\u201d\u662f\u7531\u4e24\u540d\u53c2\u4e0e\u8005\uff08<span class=\"s2\">\u5206\u522b\u4e3a\u54cd\u5e94\u8005<\/span><span class=\"s1\">\u548c\u63d0\u8bae\u8005<\/span>\uff09\u7ec4\u6210\u7684\u975e\u96f6\u548c\u535a\u5f08\uff0c\u5176\u4e2d\uff0c\u7531\u4e8e\u54cd\u5e94\u8005\u6ca1\u6709\u5426\u51b3\u6743\uff0c\u63d0\u8bae\u8005\u6210\u4e3a\u72ec\u88c1\u8005\u3002\u585e\u52d2\u7684\u5b9e\u8bc1\u7814\u7a76\u7ed3\u679c\u8868\u660e\uff0c\u5f53\u72ec\u88c1\u8005\u8003\u8651\u4e24\u4eba\u7684\u8d44\u6e90\u5206\u914d\u65b9\u5f0f\u65f6\uff0c\u5f88\u5c11\u8ba9\u81ea\u5df1\u5f97\u5230\u6240\u6709\u8d44\u6e90\uff0c\u800c\u54cd\u5e94\u8005\u5360\u6709\u8d44\u6e90\u4e3a\u96f6\u3002\u8fd9\u8868\u660e\uff0c\u4eba\u4eec\u5728\u9009\u62e9\u6548\u7528\u6700\u5927\u5316\u7684\u540c\u65f6\u4e5f\u4f1a\u8ffd\u6c42\u516c\u5e73\uff0c\u800c\u975e\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bbe\u4e2d\u7684\u8ffd\u6c42\u5168\u90e8\u8d44\u6e90\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">3.\u7f3a\u4e4f\u81ea\u6211\u63a7\u5236\uff1a\u52a9\u63a8<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u7f3a\u4e4f\u81ea\u6211\u63a7\u5236\u3001\u77ed\u89c6\u7b49\u884c\u4e3a\u504f\u5dee\u5f80\u5f80\u4f1a\u5bfc\u81f4\u4eba\u4eec\u7684\u51b3\u7b56\uff08<span class=\"s1\">\u51b3\u7b56\u6548\u7528<\/span>\uff09\u4e0e\u653f\u7b56\u5236\u5b9a\u8005\u9884\u4f30\u7684\u7ed3\u679c\uff08<span class=\"s1\">\u4f53\u9a8c\u6548\u7528<\/span>\uff09\u76f8\u5dee\u751a\u8fdc\uff0c\u56e0\u800c\u5173\u6ce8\u4e8c\u8005\u7684\u5dee\u522b\uff0c\u53ef\u4ee5\u66f4\u51c6\u786e\u5730\u8bc4\u4f30\u653f\u7b56\u798f\u5229\u6548\u679c\u3002\u5c06\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7eb3\u5165\u516c\u5171\u653f\u7b56\u7814\u7a76\u4f53\u7cfb\uff0c\u4e5f\u662f\u585e\u52d2\u7684\u4e3b\u8981\u8d21\u732e\u4e4b\u4e00\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s2\">2008<\/span>\u5e74\uff0c\u585e\u52d2\u4e0e\u6851\u601d\u5766\u5408\u4f5c\u51fa\u7248\u300a\u52a9\u63a8\u300b\u4e00\u4e66\uff0c\u4ecb\u7ecd\u4e86\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5bf9\u81ea\u6211\u63a7\u5236\u7684\u7406\u89e3\u3002\u585e\u52d2\u8ba4\u4e3a\uff0c\u4eba\u7f3a\u4e4f\u81ea\u6211\u63a7\u5236\uff0c\u53ea\u6ce8\u91cd\u77ed\u671f\u5229\u76ca\u800c\u7f3a\u4e4f\u957f\u671f\u89c4\u5212\u3002\u6bd4\u5982\uff0c\u5927\u591a\u6570\u4eba\u5728\u5e74\u521d\u4f1a\u5236\u5b9a\u5de5\u4f5c\u8ba1\u5212\uff0c\u4f46\u7ecf\u5e38\u96be\u4ee5\u5b9e\u73b0\uff1b\u8bb8\u591a\u4eba\u4ee5\u5165\u4e0d\u6577\u51fa\u7684\u65b9\u5f0f\u52c9\u5f3a\u7ef4\u6301\u9ad8\u4e8e\u81ea\u5df1\u80fd\u529b\u7684\u6d88\u8d39\uff0c\u4f46\u7531\u4e8e\u60f0\u6027\u548c\u8d2a\u6b32\u7684\u5b58\u5728\uff0c\u5374\u4e0d\u613f\u505a\u51fa\u6539\u53d8\u3002\u585e\u52d2\u8ba4\u4e3a\uff0c\u5229\u7528\u201c\u52a9\u63a8\u201d\u800c\u975e\u5f3a\u5236\u7684\u65b9\u5f0f\uff0c \u5728\u8d85\u5e02\u91cc\u5c06\u6c34\u679c\u3001\u8425\u517b\u54c1\u653e\u5728\u66f4\u52a0\u663e\u773c\u7684\u4f4d\u7f6e\u4f9b\u987e\u5ba2\u6311\u9009\uff0c\u6bd4\u793e\u533a\u53d1\u653e\u996e\u98df\u8425\u517b\u5c0f\u518c\u5b50\u8981\u6709\u6548\u5f97\u591a\u3002\u5728\u201c\u52a9\u63a8\u201d\u7406\u8bba\u7684\u6307\u5bfc\u4e0b\uff0c\u585e\u52d2\u5e2e\u52a9\u5305\u62ec\u82f1\u56fd\u3001\u7f8e\u56fd\u5728\u5185\u7684\u8bb8\u591a\u56fd\u5bb6\u5efa\u7acb\u52a9\u63a8\u5c0f\u7ec4\uff0c\u8bbe\u8ba1\u517b\u8001\u50a8\u84c4\u65b9\u6848\u3002\u8fd1\u5e74\u6765\uff0c \u7f8e\u56fd\u63a8\u51fa\u201c\u4e3a\u660e\u5929\u50a8\u84c4\u66f4\u591a\u201d\u8ba1\u5212\uff0c \u8981\u6c42\u7f8e\u56fd\u4eba\u6309\u7167\u85aa\u916c\u7684\u56fa\u5b9a\u767e\u5206\u6bd4\u50a8\u84c4\uff0c\u5e76\u52a0\u5165\u517b\u8001\u50a8\u84c4\u91d1\uff0c\u4ee5\u9632\u8d85\u51fa\u63a7\u5236\u8303\u56f4\u7684\u5237\u5361\u884c\u4e3a\uff0c\u76ee\u524d\u5df2\u6709\u8d85\u8fc7<span class=\"s2\">2500<\/span>\u4e07\u7f8e\u56fd\u4eba\u52a0\u5165\u8fd9\u4e00\u8ba1\u5212\u3002\u800c\u5728\u6b64\u4e4b\u524d\uff0c\u8054\u90a6\u653f\u5e9c\u6bcf\u5e74\u9700\u8981\u82b1\u8d39\u7ea6<span class=\"s2\">1000 <\/span>\u4ebf\u7f8e\u5143\u8865\u8d34\u6765\u652f\u6301\u8fd9\u4e00\u8ba1\u5212\uff0c\u4f46\u8fd9\u4e9b\u8865\u8d34\u5bf9\u50a8\u84c4\u7387\u7684\u5f71\u54cd\u975e\u5e38\u5c0f\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">4.\u8d62\u8005\u7684\u8bc5\u5492<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\"><span class=\"s2\">1985<\/span>\u5e74\uff0c\u585e\u52d2\u63d0\u51fa\u201c\u8f93\u8005\u8d62\u8005\u6548\u5e94\u201d\uff08<span class=\"s1\">De Bondt &amp; Thaler\uff0c 1985<\/span>\uff09\uff0c\u5373\u6295\u8d44\u8005\u5bf9\u8868\u73b0\u8f83\u5dee\u7684\u6295\u8d44\u7ec4\u5408\uff08<span class=\"s1\">\u8f93\u8005<\/span>\uff09\u8fc7\u5206\u60b2\u89c2\uff0c\u800c\u5bf9\u8868\u73b0\u8f83\u597d\u7684\u6295\u8d44\u7ec4\u5408\uff08<span class=\"s1\">\u8d62\u8005<\/span>\uff09\u8fc7\u5206\u4e50\u89c2\uff0c\u5bfc\u81f4\u80a1\u4ef7\u53d7\u6295\u8d44\u8005\u60c5\u7eea\u53ca\u5386\u53f2\u8868\u73b0\u7684\u5f71\u54cd\uff0c\u8fdb\u800c\u4ef7\u683c\u504f\u79bb\u4ef7\u503c\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u585e\u52d2\u8fd0\u7528\u7ecf\u6d4e\u5b66\u4e0e\u5fc3\u7406\u5b66\u7684\u65b9\u5f0f\uff0c\u7814\u7a76\u4e86\u6d88\u8d39\u8005\u504f\u597d\u3001\u50a8\u84c4\u884c\u4e3a\u3001\u53cd\u5e38\u884c\u4e3a\u3001\u62cd\u5356\u3001\u8d4c\u535a\u7b49\u73b0\u8c61\u4ea7\u751f\u7684\u6839\u6e90\uff0c\u6781\u5927\u5730\u4e30\u5bcc\u4e86\u7ecf\u6d4e\u5b66\u7406\u8bba\u3002\u4ed6\u66fe\u7ecf\u7528\u62cd\u5356\u7684\u4f8b\u5b50\u6765\u89e3\u91ca\u201c\u8d62\u8005\u8bc5\u5492\u201d\u3002\u5728\u62cd\u5356\u6d3b\u52a8\u4e2d\uff0c\u5047\u8bbe\u6240\u6709\u53c2\u4e0e\u8005\u5bf9\u62cd\u54c1\u4ef7\u683c\u7684\u5224\u65ad\u57fa\u672c\u6b63\u786e\uff0c\u5e76\u4e14\u4ed6\u4eec\u7684\u51fa\u4ef7\u7b26\u5408\u5bf9\u62cd\u54c1\u4ef7\u503c\u7684\u9884\u671f\uff0c \u6700\u7ec8\u8d62\u5f97\u62cd\u54c1\u7684\u662f\u51fa\u4ef7\u6700\u9ad8\u7684\u4eba\u3002\u4f46\u662f\uff0c\u7531\u4e8e\u6ca1\u6709\u7ade\u4e89\u8005\u51fa\u4ef7\u9ad8\u4e8e\u4ed6\uff0c\u53ef\u80fd\u4ed6\u662f\u6240\u6709\u4eba\u4e2d\u6700\u201c\u4e0d\u7406\u6027\u201d\u7684\u4e00\u4e2a\uff0c\u7531\u4e8e\u51fa\u4ef7\u8fc7\u9ad8\u800c\u53d7\u5230\u201c\u8bc5\u5492\u201d\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u585e\u52d2\u66fe\u5229\u7528\u80a1\u5e02\u6570\u636e\u505a\u8fdb\u4e00\u6b65\u7684\u5b9e\u8bc1\u7814\u7a76\uff1a\u5c06\u80a1\u7968\u5e02\u573a\u8fc7\u53bb<span class=\"s2\">3<\/span>\u5e74\u6da8\u5e45\u6392\u540d\u524d<span class=\"s2\">35<\/span>\u7684\u80a1\u7968\u7ec4\u6210\u201c\u8d62\u8005\u7ec4\u5408\u201d\uff0c\u8dcc\u5e45\u6392\u540d\u524d<span class=\"s2\">35<\/span>\u7684\u80a1\u7968\u7ec4\u6210\u201c\u8f93\u8005\u7ec4\u5408\u201d\uff0c\u76d1\u6d4b\u8fd9\u4e24\u4e2a\u7ec4\u5408\u7684\u4ef7\u683c\u53d8\u5316\u3002\u7814\u7a76\u53d1\u73b0\uff0c\u201c\u8f93\u8005\u7ec4\u5408\u201d\u7684\u6da8\u5e45\u5728<span class=\"s2\">3<\/span>\u5e74\u540e\u8fdc\u8d85\u201c\u8d62\u8005\u7ec4\u5408\u201d\u3002\u8be5\u7406\u8bba\u4e5f\u53ef\u4ee5\u89e3\u91ca\u4e3a\u4ec0\u4e48<span class=\"s2\">IPO<\/span>\u4e00\u822c\u9700\u8981\u6298\u4ef7\u53d1\u884c\uff0c\u56e0\u4e3a\u4fe1\u606f\u4e0d\u5bf9\u79f0\uff0c\u6295\u8d44\u8005\u53ef\u80fd\u4f1a\u4ed8\u51fa\u66f4\u5927\u7684\u4ee3\u4ef7\uff0c\u53ea\u6709\u4ef7\u503c\u88ab\u4f4e\u4f30\u624d\u80fd\u987a\u5229\u8ba4\u8d2d\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">5.\u7980\u8d4b\u6548\u5e94\u4e0e\u8fc7\u5ea6\u81ea\u4fe1<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\"><span class=\"s2\">1980<\/span>\u5e74\uff0c\u585e\u52d2\u5438\u6536\u7279\u6c83\u65af\u57fa\u548c\u5361\u5185\u66fc\u7684\u201c\u524d\u666f\u7406\u8bba\u201d\uff0c\u5728\u5b66\u672f\u8bba\u6587\u4e2d\u9996\u63d0\u7980\u8d4b\u6548\u5e94\u3002\u585e\u52d2\u8ba4\u4e3a\uff0c\u4e0e\u4f20\u7edf\u7ecf\u6d4e\u5b66\u7406\u8bba\u7684\u6c89\u6ca1\u6210\u672c\u6216\u673a\u4f1a\u6210\u672c\u4e0d\u540c\uff0c\u7531\u4e8e\u4e8b\u7269\u7980\u8d4b\u5b58\u5728\u5dee\u5f02\uff0c\u4e14\u5177\u6709\u8d1f\u9762\u6548\u5e94\u7684\u9009\u62e9\u5728\u5fc3\u7406\u6743\u8861\u65f6\u5360\u6709\u66f4\u9ad8\u6743\u91cd\uff0c\u56e0\u6b64\u4eba\u4eec\u503e\u5411\u4e8e\u201c\u907f\u5bb3\u201d \u800c\u975e\u201c\u8d8b\u5229\u201d\u3002\u53e6\u5916\uff0c\u585e\u52d2\u5728\u300a\u201c\u9519\u8bef\u201d\u7684\u884c\u4e3a\u300b\u4e00\u4e66\u4e2d\u5bf9\u7980\u8d4b\u6548\u5e94\u8fdb\u884c\u4e86\u66f4\u8fdb\u4e00\u6b65\u7684\u89e3\u91ca\uff1a\u201c\u4e0e\u5373\u5c06\u62e5\u6709\u7684\u4e1c\u897f\u76f8\u6bd4\uff0c\u4eba\u4eec\u66f4\u770b\u91cd\u5df2\u7ecf\u62e5\u6709\u7684\u4e1c\u897f\uff0c\u5bb3\u6015\u635f\u5931\u201d\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u7980\u8d4b\u6548\u5e94\u4e0e\u8fc7\u5ea6\u81ea\u4fe1\u8054\u7cfb\u5bc6\u5207\u3002\u585e\u52d2\u8ba4\u4e3a\u4e16\u754c\u4e0a\u6709<span class=\"s2\">70%<\/span>\u7684\u4eba\u8ba4\u4e3a\u81ea\u5df1\u7684\u667a\u5546\u9ad8\u4e8e\u5e73\u5747\u6c34\u5e73\uff0c\u8fd9\u662f\u8fc7\u5ea6\u81ea\u4fe1\u7684\u8868\u73b0\u3002\u5728\u516c\u53f8\u6cbb\u7406\u4e2d\uff0c\u9ad8\u7ba1\u7684\u8fc7\u5ea6\u81ea\u4fe1\u4f1a\u5bfc\u81f4\u5bf9\u4e0d\u540c\u7980\u8d4b\u7684\u9519\u8bef\u5224\u65ad\uff0c\u5e76\u4f1a\u5bf9\u516c\u53f8\u51b3\u7b56\u4ea7\u751f\u91cd\u5927\u5f71\u54cd\uff0c \u5982\u8fc7\u5ea6\u6295\u8d44\u3001\u5927\u91cf\u5e76\u8d2d\u7b49\uff1b\u5728\u80a1\u5e02\u4e2d\uff0c\u8fc7\u5ea6\u81ea\u4fe1\u5bfc\u81f4\u9891\u7e41\u4ea4\u6613\u3001\u80a1\u7968\u4ef7\u683c\u626d\u66f2\u3001\u6ce2\u52a8\u6027\u53d8\u5927\u7b49\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">6.\u8de8\u671f\u9009\u62e9\u4e0e\u50a8\u84c4\u884c\u4e3a<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u4f20\u7edf\u7684\u8de8\u671f\u9009\u62e9\u7406\u8bba\u8ba4\u4e3a\uff0c\u4eba\u4eec\u901a\u5e38\u4f1a\u5747\u8861\u81ea\u5df1\u73b0\u5728\u548c\u5c06\u6765\u7684\u9009\u62e9\u7ec4\u5408\uff0c\u4ece\u800c\u8fbe\u5230\u5229\u76ca\u6700\u5927\u5316\u3002\u585e\u52d2\uff08<span class=\"s1\">Loewen Stein &amp; Thaler\uff0c1989<\/span>\uff09\u901a\u8fc7\u76d1\u6d4b\u957f\u671f\u4ef7\u683c\u6ce2\u52a8\u6570\u636e\uff0c\u53d1\u73b0\u5728\u957f\u671f\u9009\u62e9\u65f6\uff0c\u4eba\u4eec\u5f88\u96be\u4fdd\u6301\u7406\u6027\u3002\u4f8b\u5982\uff0c\u5f53\u9762\u5bf9\u4e00\u53f0\u4fbf\u5b9c<span class=\"s2\">60<\/span>\u5143\u4f46\u6bcf\u5e74\u7535\u8d39\u9ad8<span class=\"s2\">60<\/span>\u5143\u7684\u7a7a\u8c03\u65f6\uff0c\u9009\u62e9\u7ed3\u679c\u901a\u5e38\u56e0\u4eba\u800c\u5f02\u3002\u6b64\u5916\uff0c\u585e\u52d2\u53d1\u73b0\uff0c\u4eba\u7684\u5fc3\u7406\u6d3b\u52a8\u6709\u4e24\u79cd\uff0c\u4e00\u79cd\u5e0c\u671b\u80fd\u591f\u7acb\u5373\u6ee1\u8db3\uff0c \u800c\u53e6\u4e00\u79cd\u5219\u4f1a\u6743\u8861\u672a\u6765\u53ef\u80fd\u51fa\u73b0\u7684\u9009\u62e9\uff08<span class=\"s1\">\u585e\u52d2\u7b49\uff0c1974<\/span>\uff09\u3002\u540c\u6837\u7684\uff0c\u5728\u91d1\u878d\u5e02\u573a\u6295\u8d44\u9886\u57df\uff0c\u8bb8\u591a\u4eba\u76f8\u4fe1\u80a1\u4ef7\u968f\u673a\u6e38\u8d70\uff0c\u5374\u9009\u62e9\u5728\u80a1\u7968\u5e02\u573a\u4e2d\u8fdb\u884c\u4e3b\u52a8\u6295\u8d44\uff0c\u5982\u5206\u671f\u6ce2\u6bb5\u5f0f\u6295\u8d44\uff1b\u80a1\u7968\u7684\u5386\u53f2\u56de\u62a5\u7387\u867d\u7136\u9ad8\u4e8e\u503a\u5238\uff0c\u4f46\u4eba\u4eec\u66f4\u4e50\u610f\u5c06\u9000\u4f11\u91d1\u6295\u8d44\u4e8e\u6536\u76ca\u7387\u8f83\u4f4e\u7684\u503a\u5238\u3002\u4e0e\u4f20\u7edf\u7ecf\u6d4e\u7406\u8bba\u5f3a\u8c03\u4eba\u7684\u201c\u65e0\u5dee\u5f02\u5316\u201d\u4e0d\u540c\uff0c\u585e\u52d2\u8ba4\u4e3a\u4e0d\u540c\u4eba\u7684\u9009\u62e9\u4f1a\u53d7\u5230\u751f\u6d3b\u7ecf\u9a8c\u3001\u5fc3\u7406\u6d3b\u52a8\u7684\u5f71\u54cd\uff0c \u8fd9\u4e5f\u662f\u4eba\u4eec\u65f6\u800c\u201c\u7406\u6027\u201d\u65f6\u800c\u201c\u975e\u7406\u6027\u201d\u7684\u539f\u56e0\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u751f\u547d\u5468\u671f\u7406\u8bba\u8ba4\u4e3a\uff0c\u4eba\u4eec\u4f1a\u57fa\u4e8e\u51e0\u5341\u5e74\u7684\u751f\u547d\u5468\u671f\u6765\u89c4\u5212\u6d88\u8d39\u548c\u50a8\u84c4\uff0c\u4ee5\u6c42\u6548\u7528\u6700\u5927\u5316\u3002\u585e\u52d2\u53d1\u73b0\uff0c\u7531\u4e8e\u4eba\u4eec\u666e\u904d\u7f3a\u4e4f\u8010\u5fc3\uff0c\u5f80\u5f80\u4f1a\u51fa\u73b0\u201c\u77ed\u89c6\u201d\u884c\u4e3a\uff0c\u5982\u900f\u652f\u4fe1\u7528\u5361\u7ef4\u6301\u6d88\u8d39\u884c\u4e3a\u4e60\u60ef\uff0c\u5bfc\u81f4\u4fe1\u7528\u5361\u5229\u7387\u9ad8\u4e8e\u50a8\u84c4\u6536\u76ca\u7387\u7684\u53cd\u5e38\u73b0\u8c61\u3002\u53e6\u5916\uff0c\u7531\u4e8e\u6d88\u8d39\u884c\u4e3a\u5bf9\u5f53\u671f\u6536\u5165\u7684\u53cd\u5e94\u8f83\u654f\u611f\uff0c\u4e0d\u540c\u65f6\u671f\u7684\u8d22\u5bcc\u53ef\u80fd\u5e76\u4e0d\u5177\u6709\u5f88\u5f3a\u7684\u66ff\u4ee3\u6027\u3002\u5373\u4f7f\u662f\u540c\u6837\u7684\u8d22\u5bcc\u6c34\u5e73\uff0c\u4e0d\u540c\u4eba\u7684\u611f\u53d7\u4e0d\u540c\uff0c\u4ece\u800c\u5bfc\u81f4\u5b8c\u5168\u4e0d\u540c\u7684\u6d88\u8d39\u884c\u4e3a\u3002\u8fd9\u4e00\u7406\u8bba\u4e5f\u53ef\u4ee5\u89e3\u91ca\u4e3a\u4ec0\u4e48\u77ed\u671f\u5185\u8d34\u73b0\u7387\u5e38\u5e38\u9ad8\u4e8e\u5229\u7387\u7684\u73b0\u8c61\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p2\">\u8bc4\u4ef7<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u4e0e\u4f20\u7edf\u7ecf\u6d4e\u5b66\u7406\u8bba\u5f3a\u8c03\u5546\u54c1\u751f\u4ea7\u3001\u6ce8\u91cd\u6548\u7387\u3001\u8ba1\u7b97\u5229\u76ca\u6700\u5927\u5316\u4e0d\u540c\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5c06\u5fc3\u7406\u5b66\u4e0e\u7ecf\u6d4e\u5b66\u878d\u5408\uff0c\u66f4\u52a0\u5173\u6ce8\u4eba\u7684\u884c\u4e3a\uff0c\u5f3a\u8c03\u4eba\u4eec\u8ba4\u8bc6\u4e16\u754c\u7684\u4e0d\u5168\u9762\u6027\u548c\u7f3a\u9677\u6027\uff0c\u628a\u4eba\u4eec\u7684\u884c\u4e3a\u770b\u4f5c\u662f\u771f\u5b9e\u7684\u3001\u6709\u5dee\u5f02\u7684\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u81f3\u4eca\u5171\u9881\u53d1<span class=\"s1\">49 <\/span>\u6b21\uff0c\u8868\u5f70<span class=\"s1\">79<\/span>\u4eba\u3002\u800c<span class=\"s1\">2017<\/span>\u5e74\u662f\u8bfa\u8d1d\u5c14\u5956\u7b2c\u4e00\u6b21\u5355\u72ec\u9881\u53d1\u7ed9\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5bb6\uff0c\u5e76\u8868\u5f70\u5176\u5728\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7406\u8bba\u65b9\u9762\u4f5c\u51fa\u7684\u5353\u8d8a\u8d21\u732e\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p1\">\u8fd1\u5e74\u6765\uff0c\u4f34\u968f\u7740\u7ecf\u6d4e\u7ed3\u6784\u8f6c\u578b\u548c\u4eba\u4eec\u7cbe\u795e\u6587\u5316\u9700\u6c42\u589e\u957f\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u8fce\u6765\u4e86\u5feb\u901f\u53d1\u5c55\u3002\u8bb8\u591a\u5b66\u8005\u8ba4\u4e3a\uff0c \u7531\u4e8e\u5546\u54c1\u4e0d\u65ad\u4e30\u5bcc\uff0c\u4eba\u4eec\u7684\u4ef7\u503c\u53d6\u5411\u5f71\u54cd\u5546\u54c1\u9500\u552e\uff0c\u56e0\u800c\u73b0\u4ee3\u7ecf\u6d4e\u5e38\u5e38\u51fa\u73b0\u201c\u975e\u7269\u8d28\u5316\u201d\u201c\u4e2a\u6027\u5316\u201d\u73b0\u8c61\u3002\u8fd9\u4e9b\u65b0\u7684\u53d8\u5316\u5bf9\u4f20\u7edf\u7ecf\u6d4e\u7406\u8bba\u63d0\u51fa\u4e86\u6311\u6218\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5219\u662f\u5bf9\u8bf8\u591a\u7406\u8bba\u7684\u6709\u529b\u8865\u5145\u3002\u53e6\u5916\uff0c\u7531\u4e8e\u4eba\u4eec\u5728\u51b3\u7b56\u65f6\u5b58\u5728\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u5bf9\u4e8b\u7269\u7684\u8ba4\u8bc6\u96be\u4ee5\u8fbe\u5230\u201c\u7406\u6027\u7ecf\u6d4e\u4eba\u201d\u5047\u8bf4\u4e2d\u7684\u5b8c\u7f8e\u8ba1\u7b97\uff0c\u8ba4\u8bc6\u95ee\u9898\u5b58\u5728\u5c40\u9650\uff0c\u5373\u505a\u51fa\u201c\u6709\u9650\u7406\u6027\u201d\u7684\u9009\u62e9\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u884c\u4e3a\u7ecf\u6d4e\u5b66\u88ab\u8ba4\u4e3a\u662f\u8ba9\u7ecf\u6d4e\u5b66\u66f4\u6709\u201c\u4eba\u60c5\u5473\u201d\u7684\u5b66\u79d1\u3002\u4ece<span class=\"s1\">1994<\/span>\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u9881\u5956\u59d4\u5458\u4f1a\u627f\u8ba4\u535a\u5f08\u7406\u8bba\uff0c\u5230<span class=\"s1\">2002<\/span>\u5e74\u540c\u65f6\u8868\u5f70\u5fc3\u7406\u5b66\u5bb6\u548c\u7ecf\u6d4e\u5b66\u5bb6\u5bf9\u7ecf\u6d4e\u7406\u8bba\u7684\u8bf8\u591a\u8d21\u732e\uff0c\u518d\u5230\u5982\u4eca\u6b63\u5f0f\u5c06\u201c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u201d\u7eb3\u5165\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956\u9881\u5956\u8bcd\uff0c\u7ecf\u6d4e\u5b66\u7406\u8bba\u6b63\u7ecf\u5386\u7740\u4ece\u201c\u4e0a\u5e1d\u4eba\u201d\u5230\u201c\u52a8\u7269\u4eba\u201d\u7684\u8f6c\u53d8\uff0c\u6ce8\u91cd\u4eba\u4eec\u7684\u5dee\u5f02\u548c\u4e2a\u6027\u5316\uff0c\u5c24\u5176\u662f\u4eba\u6027\u5b58\u5728\u7684\u5c40\u9650\u548c\u4e0d\u5b8c\u5584\u7684\u5730\u65b9\u3002\u7531\u4e8e\u504f\u79bb\u7406\u6027\u7684\u73b0\u8c61\u5e7f\u6cdb\u5b58\u5728\u4e8e\u4e0d\u540c\u60c5\u666f\u4e2d\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u5f97\u5230\u5e7f\u6cdb\u5e94\u7528\u3002\u5728\u91d1\u878d\u5e02\u573a\u4e0a\uff0c\u884c\u4e3a\u7ecf\u6d4e\u5b66\u8fd0\u7528\u6a21\u578b\u6d88\u9664\u5f02\u8d28\u6027\u9519\u8bef\u7684\u7ecf\u9a8c\u6548\u5e94\u3001\u975e\u7406\u6027\u5957\u5229\u7b49\uff0c\u53ef\u4ee5\u51cf\u5c11\u504f\u79bb\u7406\u6027\u7684\u884c\u4e3a\uff0c \u4ece\u800c\u52a0\u5f3a\u5bf9\u7ed3\u679c\u7684\u4f30\u8ba1\u80fd\u529b\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p3\">\u5361\u5185\u66fc\uff08<span class=\"s2\">2002\u5e74\u83b7\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956<\/span>\uff09\u66fe\u5c06\u81ea\u5df1\u7684\u83b7\u5956\u5f52\u529f\u4e8e\u585e\u52d2\uff0c \u79f0\u4ed6\u662f\u201c\u9996\u4f4d\u5c06\u5fc3\u7406\u5b66\u5f15\u5165\u7ecf\u6d4e\u5b66\uff0c \u5f00\u521b\u4e86\u884c\u4e3a\u7ecf\u6d4e\u5b66\u201d\u7684\u7ecf\u6d4e\u5b66\u5bb6\u3002\u7f57\u4f2f\u7279<span class=\"s1\">\u00b7<\/span>\u5e2d\u52d2\uff08<span class=\"s2\">2013\u5e74\u83b7\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5b66\u5956<\/span>\uff09\u4e5f\u66fe\u8bf4\u8fc7\u201c\u7ecf\u6d4e\u5b66\u9886\u57df\u6b63\u5728\u53d1\u751f\u4e00\u573a\u91cd\u8981\u9769\u547d\uff0c\u585e\u52d2\u65e0\u7591\u662f\u8fd9\u573a\u9769\u547d\u7684\u4e2d\u5fc3\u4eba\u7269\u201d\u3002\u76ee\u524d\uff0c\u7406\u8bba\u7ecf\u6d4e\u5b66\u7814\u7a76\u4ecd\u4f9d\u6258\u4e8e\u89c2\u6d4b\u6570\u636e\uff0c\u4f46\u5927\u6570\u636e\u65b9\u6cd5\u7ecf\u5e38\u5bfc\u81f4\u7814\u7a76\u7ed3\u679c\u4e0e\u521d\u59cb\u5047\u8bbe\u4e0d\u76f8\u5173\u3001\u4e0e\u6a21\u578b\u9884\u6d4b\u4e0d\u76f8\u7b26\u7b49\uff0c\u8fd9\u4e3a\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7684\u53d1\u5c55\u63d0\u4f9b\u4e86\u571f\u58e4\u3002\u6b63\u5982\u5f17\u91cc\u5fb7\u66fc\uff08<span class=\"s2\">Milton Friedman\uff0c1953<\/span>\uff09\u63d0\u5021\u7684\uff1a\u5728\u8bc4\u4f30\u7ecf\u6d4e\u6a21\u578b\u65f6\uff0c\u5e94\u66f4\u591a\u5730\u8003\u5bdf\u5b9e\u8bc1\u9884\u6d4b\u7684\u51c6\u786e\u6027\uff0c\u800c\u975e\u6a21\u578b\u5047\u8bbe\u7684\u5408\u7406\u6027\u3002\u968f\u7740\u7406\u8bba\u7ecf\u6d4e\u5b66\u5411\u7ecf\u9a8c\u79d1\u5b66\u53d1\u5c55\uff0c\u7ecf\u6d4e\u7406\u8bba\u5c06\u66f4\u591a\u5730\u501f\u9274\u884c\u4e3a\u7ecf\u6d4e\u5b66\u7684\u7814\u7a76\u65b9\u5f0f\uff0c\u5229\u7528\u7ecf\u9a8c\u8bc1\u636e\u5206\u6790\u7ed3\u679c\u3002\u867d\u7136\u591a\u5e74\u6765\u585e\u52d2\u7684\u7814\u7a76\u5728\u7ecf\u6d4e\u5b66\u754c\u9971\u53d7\u4e89\u8bae\uff0c\u4f46\u4ed6\u5bf9\u4f20\u7edf\u7406\u8bba\u66f4\u52a0\u5173\u6ce8\u4eba\u7684\u547c\u5401\u9010\u6e10\u5f15\u8d77\u5927\u5bb6\u7684\u91cd\u89c6\u3002\u65e0\u8bba\u662f\u4ece\u5fc3\u7406\u5b66\u7684\u89c6\u89d2\uff0c\u8fd8\u662f\u4ece\u4eba\u7684\u201c\u6709\u9650\u7406\u6027\u201d\u89c6\u89d2\uff0c\u585e\u52d2\u5b9e\u73b0\u4e86\u7ecf\u6d4e\u5b66\u5bf9\u4e8e\u201c\u4eba\u201d\u7684\u7814\u7a76\uff0c\u5bf9\u5404\u79cd\u7ecf\u6d4e\u73b0\u8c61\u4e0d\u518d\u62d8\u6ce5\u4e8e\u5b8c\u7f8e\u7684\u7406\u8bba\u5047\u8bbe\u548c\u6a21\u578b\u63a8\u5bfc\u3002\u867d\u7136\u585e\u52d2\u5728\u884c\u4e3a\u7ecf\u6d4e\u5b66\u9886\u57df\u7684\u7406\u8bba\u8d21\u732e\u6846\u67b6\u5c1a\u4e0d\u5b8c\u5584\uff0c\u4f46\u5176\u5728\u73b0\u5b9e\u5e94\u7528\u8fc7\u7a0b\u4e2d\u4ecd\u7136\u6709\u5f88\u5f3a\u7684\u6307\u5bfc\u610f\u4e49\u3002<\/p>\n<p style=\"text-indent:2em;\" class=\"p4\">\u4f5c\u8005\u5355\u4f4d\uff1a\u4e2d\u56fd\u4eba\u6c11\u94f6\u884c\u7814\u7a76\u5c40<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u9ec4 \u73ca 2017\u5e7410\u67089\u65e5\uff0c\u7f8e\u56fd\u829d\u52a0\u54e5\u5927\u5b66\u6559\u6388\u7406\u67e5\u5fb7\u00b7\u585e\u52d2\uff08Richard H. Thaler\uff09\u83b7\u8bfa\u8d1d\u5c14\u7ecf\u6d4e<\/p>\n<div class=\"read-more\"><a href=\"https:\/\/cdo.develpress.com\/?p=6040\" title=\"\u9605\u8bfb\u66f4\u591a\">\u9605\u8bfb\u66f4\u591a<\/a><\/div>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[158],"tags":[],"_links":{"self":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts\/6040"}],"collection":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6040"}],"version-history":[{"count":0,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=\/wp\/v2\/posts\/6040\/revisions"}],"wp:attachment":[{"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cdo.develpress.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}