A Pricing Model With The General Function Parameters In Expected Belief Analysis And Empirical Research

In the classic asset pricing model theory,it is assumed that fundamental analysts expected belief prices will deviate from the long-term benchmark price but will even-tually return to the benchmark price in a certain period of time,and considering only the variance is a constant,in this paper the fundamental traders price volatility is not only affected by the current price of its influence will from the current price and the benchmark price of the deviation,and the chart analysts believe the learning process of the future price forecast from the current price and the price of the price history,the his-torical process is a geometric decay process,historical information memory parameters as a constant,therefore,in this paper,we expect the memory parameter selection as a general belief function,which constructs the asset pricing model with general function parameters of a belief in.First of all,the use of differential equation theory points dis-cussed deterministic model equilibrium solution existence and local asymptotic stability,bifurcation stability function parameters can be continuously to meet the guide under the condition of general equilibrium Finally,the general function is transformed into a two degree polynomial,using simulation and empirical research,the model and the pro-posed the establishment of statistical characteristics of model data comparison,analysis of some statistical reference sequences of real market data revenue,can be found in this paper the model can reflect the characteristics of the market better.