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→Financial models 金融模型
* Thaler's model of price reactions to information, with three phases (underreaction, adjustment, and overreaction), creating a price [[market trend|trend]].
* Thaler's model of price reactions to information, with three phases (underreaction, adjustment, and overreaction), creating a price [[market trend|trend]].
* Thaler制造过一个通过信息回馈来创造价格（'''<font color = 'ff8000'>市场趋势market trend</font>'''）。
* Thaler制造过一个通过信息回馈来创造价格（'''<font color = 'ff8000'>市场趋势market trend</font>'''）'''<font color = 'ff8000'>的价格反应模型model of price reactions to information</font>'''。该模型具有三个阶段（'''<font color = 'ff8000'>反应不足underreaction</font>'''，'''<font color = 'ff8000'>调整adjustment</font>'''，和'''<font color = 'ff8000'>反应过度overreaction</font>'''）。
'''<font color = 'ff8000'>的价格反应模型model of price reactions to information</font>'''。该模型具有三个阶段（'''<font color = 'ff8000'>反应不足underreaction</font>'''，'''<font color = 'ff8000'>调整adjustment</font>'''，和'''<font color = 'ff8000'>反应过度overreaction</font>'''）。
:One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing [[habit]]s.<ref>{{cite web|url=http://flevy.com/blog/why-people-wont-buy-your-product-even-though-its-awesome/|title=Why People Won't Buy Your Product Even Though It's Awesome|last=Tang|first=David|date=6 May 2013|publisher=Flevy|accessdate=31 May 2013}}</ref>
:One characteristic of overreaction is that average returns following announcements of good news is lower than following bad news. In other words, overreaction occurs if the market reacts too strongly or for too long to news, thus requiring an adjustment in the opposite direction. As a result, outperforming assets in one period is likely to underperform in the following period. This also applies to customers' irrational purchasing [[habit]]s.<ref>{{cite web|url=http://flevy.com/blog/why-people-wont-buy-your-product-even-though-its-awesome/|title=Why People Won't Buy Your Product Even Though It's Awesome|last=Tang|first=David|date=6 May 2013|publisher=Flevy|accessdate=31 May 2013}}</ref>
* '''<font color = 'ff8000'>股票估价stock valuation</font>'''或'''<font color = 'ff8000'>股票图像stock image</font>'''系数
* '''<font color = 'ff8000'>股票估价stock valuation</font>'''或'''<font color = 'ff8000'>股票图像stock image</font>'''系数
==== Criticisms 批评====
==== Criticisms 批评====