基于性别差异的拍卖行为和定价机制研究
Research on Auction Behavior and Pricing Mechanism Based on Gender Difference
DOI: 10.12677/FIN.2017.74023, PDF, HTML, XML, 下载: 1,524  浏览: 2,708 
作者: 李赫美*, 王汀汀, 张馨月：中央财经大学金融学院，北京
关键词: 拍卖定价；性别差异；投资行为；信号传递；Auction Pricing； Gender Difference； Investment Behavior； Signal Transmission
摘要: 本文基于行为金融学的思路，研究拍卖市场上，性别差异对个体决策行为和最终交易价格的影响。文章选用中央电视台财经频道《一槌定音》的模拟交易数据进行检验，结果发现：第一，女性拍卖者厌恶损失，由于沉没成本的存在不轻易退出竞拍交易；第二，女性拍卖者对外界信息反应不敏感，对拍卖品的价值判断一旦形成，不轻易受外界信息如专家点评、竞买人砸价等因素的影响，心理预期价格相对稳定；第三，从对负面信息作出的反应来看，女性拍卖者相对缺乏经验，表现为更易受负面信息影响向下调整预期拍卖价格。第四，女性拍卖者的成交价格都普遍偏低。
Abstract: Based on behavioral finance, this paper studies the influence of gender difference on individual behavior and transaction price in the auction market. The study selected the simulated transac-tion data from a program of CCTV financial channel to examine and found: first, female auc-tioneers abhor losses and are not easily withdrawn from the auction because of sunk costs; second, female auctioneer is not sensitive to external information, once the judgment of good value formed, she is not easily affected by external information; third, female participant is lack of experience and easily affected by negative market information; forth, the auction prices for female auctioneers are generally lower than male auctioneers.
文章引用：李赫美, 王汀汀, 张馨月. 基于性别差异的拍卖行为和定价机制研究[J]. 金融, 2017, 7(4): 227-237. https://doi.org/10.12677/FIN.2017.74023

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