"The Role of Information in the Rice Exchange: Yamagata Banto's Great Knowledge (1806)"
"The Role of Information in the Rice Exchange: Yamagata Banto's Great Knowledge (1806)"
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《信息在大米交换中的作用：山形半东的伟大知识（1806）》
DOI：
10.1080/09672567.2023.2190598
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发表时间：
2023
期刊：
影响因子：
--
通讯作者：
Yasuo Takatsuki and Taro Hisamatsu
中科院分区：
文献类型：
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作者：
Yasuo Takatsuki and Taro Hisamatsu
19世纪法国经济学家儒勒·勒尼奥（Jules Regnault）被约万诺维奇（Jovanovic）等人重新评价为金融经济学的先驱。虽然没有勒诺的股票价格随机性模型那么复杂，但同一个世纪有一位日本哲学家的想法类似于法马的假设，即所有可用的信息都反映在市场价格中。他的名字叫山形板藤。本文通过分析他在1806年出版的《大知识》中对信息的讨论，阐明了他对有效市场假说早期概念的贡献。
The nineteenth-century French economist Jules Regnault has been reassessed as a pioneer of financial economics by Jovanovic and others. Although not as elaborate as Regnault’s model for the random nature of stock prices, there was a Japanese philosopher in the same century whose ideas resembled Fama’s hypothesis that all available information is reflected in market prices. His name was YAMAGATA Bantō. This paper clarifies his contribution to the early concept of the Efficient Market Hypothesis by analysing his discussion on information presented in his 1806Great Knowledge.