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China's Agricultural Futures Market Information And Game Regulatory Mechanism

Posted on:2011-01-08Degree:MasterType:Thesis
Country:ChinaCandidate:Y LiuFull Text:PDF
GTID:2199330332473012Subject:International Trade
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Only within twenty years, our futures market has got deep development, and went by a mature lifetime history. In 2009, the total turnover of our futures market has arrived at 1305107 billion yuan, and the total turnover contract has up to 215743, which compare 2008, increasing 104% and 58%. While more vacancy between both sides are very intensity and conflict of interest are vast in futures market. Obvious information asymmetry in variours marketing participants. Both sides or more sides in order to get more informations to carry through long-term dynamic game. Dealing with information which including different degrees of localization will lead to the failure in market mechanism and action in market manipulating, making the form of price information in futures market cannot really reflect supply and demand connection, which will affect price detecting of futures market, elude risk etc to exert regular economy function, which is bad to investors' interest in futures market, and also bring deadly harm to society developing.From the fact that analyse leads to market efficiency decline in agriculture futures market, all kinds of relevant information about agriculture futures market dealing in the process of revealing, transmitting, resolving and feed back have had different difficulties. The information authenticity is the origin and key.The function of all progress in agriculture futures market includes information supplying, processing and feedback, in order to avoid failure in agriculture futures market and efficiency delicine which are the result of localization in agriculture future market's dealing ability and twist of market information. the model of information game is necessary between construct agriculture futures market and time-bargain department, time-bargain department and time-bargain agency, ime-bargain agency and futures investor, different times investors. Analysing and deducting informations in agriculture futures market, which lead inspector of agriculture futures market to exactly hold all progress about futures market information game, improving game's term, speeding main body of agriculture future market information game to sufficient understand game theory in future market, which are the basis of founding valid market and base circle of inspecting agriculture futures market. Hereby, establishing agriculture future market informations with market mechanism, recovery mechanism, penalty mechanism, feedback mechanism, which promote harmonious developing of agriculture futures market.This theory's cut-in is futures market game, narrating those year's home and overseas investment market information game, analyseing home and overseas research keys stone, hot-spot and the trend of research about futures market information game. On above base, deeply analyse about party roles who are flowing in agriculture futures market information game, considering more orientation, multilayer, more point of views, and more side face to study market participants'basic characteristic and action tropism. Using game, information economics, investment economics, futures investing relevant theory as information game and monitor mechanism to analyse theory supporting, through analyse the terms of agriculture future market, constructing.monitor layer of agriculture futures market and futures dealing information game model. After analyse and deduction both futures market monitor layer and futures dealing, according movement and monitor mechanism of agriculture futures market, constructing monitor models about beforehand mechanism, recovery mechanism, penalize mechanism and feed back mechanism, etc.On the one hand, this theory adopts improving condition of agriculture futures market game, which is good to avoid controlling informations in agriculture futures market information; on the other hand, using demonstration analyse, which will enlarge big and small investors distinctly know the status of himself in information game's process, better hold invest opportunity, avoiding invest risks.
Keywords/Search Tags:agriculture, future market, information game, monitor mechanism
PDF Full Text Request
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