论文首先介绍了行为金融学对完全信息假设的摒弃。接着利用启发式判断准

则推断了波动传递的起源。同时跨市交易者无意中造成了波动的传递。最后详细

阐述了羊群行为的产生机理和市场表现，分析了羊群行为对波动溢出的放大效应。

-First of all papers presented on behavioral finance to abandon the assumption of complete information. Then infer the use of heuristic criteria to determine the origin of the fluctuations in transmission. At the same time, cross-market traders inadvertently caused fluctuations in the transmission. Finally, detailed mechanism of herd behavior and market performance, an analysis of herding behavior of the amplification of volatility spillover effect.