提出了一个从众行为与投机性泡沫的关系模型 ,并借助于计算机对从众行为与投机性泡沫的关系进行了动态模拟 .模拟结果表明 ,即使没有外因干扰 ,只要投机市场存在从众行为 ,市场价格就会出现无规则的波动 ,且市场上的从众行为程度越高投机性泡沫越大 .

This paper presents a model about the relationship between herd behavior and speculative bubbles. With the help of the computer, the relationship between herd behavior and speculative bubbles is dynamically simulated. The simulation results prove that even if without external disturbance, as long as there exists herd behavior in the speculative market, the market price will irregularly fluctuate. Moreover, the higher the degree of the herd behavioris, the bigger the speculative bubbles are.