These implications are in direct contradiction to the theory of rational expectations and the efficient market hypothesis.
这些影响是理性预期理论和有效率的市场假说。
Since a majority of the market is comprised of traders' expectations of future prices based on past information, the underlying human element disputes this theory.
大多数股票在市场上的价格取决于交易者根据过去的信息对未来价格的期望，人为因素则与之背道而驰。
The traditional exchange rate theory basing on the hypotheses of efficient market and rational expectations has in recent years been the victim of people's doubts and challenges.
传统的汇率理论是构建在有效市场与理性预期假设基础上的，近年来，该理论不断遭受人们的质疑与挑战。
Then based on Expectations Theory, they reveal the reason of the stock market down-going with the increase of GDP. Then on the light of above analysis, some adviec is given.
从预期理论角度对此结论进行原因分析，得出经济主体利益预期的不一致以及由此导致的居民预期利益高度不确定是股票市场与国民经济均衡破坏的主要原因之一。
Then based on Expectations Theory, they reveal the reason of the stock market down-going with the increase of GDP. Then on the light of above analysis, some adviec is given.
从预期理论角度对此结论进行原因分析，得出经济主体利益预期的不一致以及由此导致的居民预期利益高度不确定是股票市场与国民经济均衡破坏的主要原因之一。
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