About the Book
These two volumes include important contributions by eminent Japanese researchers and their coauthors on advances in behavioral economics and finance. Behavioral Economics of Preferences, Choices, and Happiness covers decision making and human well-being. Key topics include decision making under the conditions of inter-temporal choices, risk and social relations, happiness, and the neuro-scientific and biological basis of behavior. Behavioral Interactions, Markets, and Economic Dynamics focuses especially on economic studies that examine interactions of multiple agents or market phenomena or both by using behavioral economics models. Together, the two volumes effectively enable readers to broaden and deepen their understanding of the fascinating and highly significant topics of behavioral economics and finance.
Table of Contents:
Behavioral Economics of Preferences, Choices, and Happiness.- Part I Attitude toward Risk and Time.- 1 Risk and Time Preferences: Linking Experimental and Household Survey Data from Vietnam (Tanaka, Camerer, Nguyen).- 2 Simultaneous Measurement of Time and Risk Preferences: Stated Preference Discrete Choice Modeling Analysis Depending on Smoking Behavior (Ida, Goto).- 3 Time discounting: Declining impatience and interval effect (Kinari, Ohtake, Tsutsui).- 4 Non-parametric Test of Time Consistency: Present Bias and Future Bias (Takeuchi, Kan).- 5 Loss of self-control in intertemporal choice may be attributable to logarithmic time-perception (Takahashi).- 6 Experiments on Risk Attitude : the Case of Chinese Students (Sasaki, Xie, Ohtake, Qin, Tsutsui).-Part II Addiction.- 7 Interdependency among Addictive Behaviors and Time/Risk Preferences: Discrete Choice Model Analysis of Smoking, Drinking, and Gambling (Ida, Goto).- 8 Discounting delayed and probabilistic monetary gains and losses bysmokers of cigarettes (Ohmura, Takahashi, Kitamura).- 9 Time discounting and smoking behavior: Evidence from a panel survey (Kang, Ikeda).- 10 Smokers, smoking deprivation, and time discounting (Yamane, Yoneda, Takahashi, Kamijo, Komori, Hiruma, Tsutsui).- 11 The effects of the social norm on cigarette consumption: Evidence from Japan using panel data (Yamamura).-Part III Health.- 12 Hyperbolic discounting, the sign effect, and the body mass index (Ikeda, Kang, Ohtake).- 13 Economic and Behavioral Factors in an Individual's Decision to Take the Influenza Vaccination in Japan (Tsutsui, Benzion, Shahrabani).- Part IV Social Preferences.- 14 Another Avenue for Anatomy of Income Comparisons: Evidence from Hypothetical Choice Experiments (Yamada, Sato).- 15 Social capital, household income, and preferences for income redistribution (Yamamura).- Part V Happiness and Well-being.- 16 Koizumi Carried the Day: Did the Japanese Election Results Make People Happy and Unhappy? (Tsutsui, Kimball, Ohtake).- 17 Asking about changes in happiness in a daily web survey and its implication for the Easterlin paradox (Tsutsui, Ohtake).- 18 Welfare States and the Redistribution of Happiness (Ono, Lee).-Part VI Decisions.- 19 Revealed Attention (Yusufcan, Nakajima, Ozbay).- 20 Subjective random discounting and intertemporal choice (Higashi, Hyogo, Takeoka).- 21 A geometric approach to temptation (Abe).- Part VII Biological Foundation.- 22 Prediction of immediate and future rewards differently recruits cortico-basal ganglia loops (Tanaka, Doya, Okada, Ueda, Okamoto, Yamawaki).- 23 Second to fourth digit ratio and the sporting success of sumo wrestlers (Tamiya, Lee, Ohtake).-Part IIX Investor Behavior.- 24 Investors' Herding on the Tokyo Stock Exchange (Iihara, Kato, Tokunaga).- 25 The characteristics of online investors (Uchida).-26 Can margin traders predict future stock returns in Japan? (Hirose, Kato, Bremer).
Behavioral Interactions, Markets, and Economic Dynamics.- Part I Intergenerational Interactions.- 1 An equilibrium model of child maltreatment (Akabayashi).-2 Tough Love and Intergenerational Altruism (Bhatt, Ogaki).- Part II Behavioral Macroeconomics.-3 Consumer interdependence via reference groups (Hayakawa, Venieris, Yiannis).- 4 Bounded rationality, social and cultural norms, and interdependence via reference groups (Hayakawa) .- 5 Keeping one step ahead of the Joneses: Status, the distribution of wealth, and long run growth (Futagami, Shibata, Akihisa).- 6 Macroeconomic implications of conspicuous consumption: A Sombartian dynamic model (Yamada).- 7 On Persistent Demand Shortages: A behavioural Approach (Ono, Ishida).-Part III Time Preference in Macroeconomics.- 8 Rate of Time Preference, Intertemporal Elasticity of Substitution, and Level of Wealth (Ogaki, Atkeson).- 9Economic development and time preference schedule: The Case of Japan and East Asian NICs(Ogawa).- 10 Luxury and Wealth (Ikeda, Shinsuke).- 11 On decreasing marginal impatience (Hirose, Ikeda).- Part IV Bubbles and Crash.- 12 Why Did the Nikkei Crash? Expanding the Scope of Expectation Data Collection (Shiller, Kon-Ya, Tsutsui).- 13 Price Bubbles Sans Dividend Anchors: Evidence from Laboratory Stock Markets (Hirota, Sunder, Shyam).- Part V Experimental Markets.- 14 Revenue Non-Equivalence between the English and the Second-Price Auctions: Experimental Evidence (Soo Hong, Nishimura).- 15 An experimental test of a committee search model(Hizen, Kawata, Sasaki).- 16 Equilibrium refinement vs. level-k analysis: An experimental study of cheap-talk games with private information (Kawagoe, Takizawa).-Part VI Behavioral Contract Theory.- 17 Moral Hazard and Other-Regarding Preferences(Itoh).- 18 Contracting with self-esteem concerns(Ishida).- 19 Optimal Promotion Policies with the Looking‐Glass Effect(Ishida).-Part VII Market Efficiency and Anomalies.- 20 Is No News Good News? The Streaming News Effect on Investor Behavior Surrounding Analyst Stock Revision Announcement (Azuma, Okada, Hamuro).- 21 The Winner-Loser Effect in Japanese Stock Returns(Kato, Iihara, Tokunaga).- 22 Addition to the Nikkei 225 Index and Japanese market response: Temporary demand effect of index arbitrageurs(Okada, Isagawa, Fujiwara).- 23 The Calendar Structure of the Japanese Stock Market: The ‘Sell in May Effect’ versus the ‘Dekansho-bushi Effect'( Sakakibara, Yamasaki, Okada).
