This book is a collection of important contributions by Japanese researchers and their coauthors to present current advances in behavioral economics and finance, particularly in relation to decision making and human well-being. The topics covered in this volume include decision making under the conditions of inter-temporal choices, risk and social relations, happiness and the neuro-scientific/biological basis of behavior. The book includes works of research, both theoretical and empirical, on time discounting, time preferences, risk aversion, altruism, social status, happiness, addiction, limited attention and health and financial investments. The authors of the chapters add supplementary discussions to survey more recent advances on related topics or to provide detailed information that were abbreviated in the original publications. The addenda will enable readers to deepen their understanding of decision making and human well-being.
Table of Contents
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 by smokers 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).