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Behavioral Interactions, Markets, and Economic Dynamics

Topics in Behavioral Economics

  • Book
  • © 2016

Overview

Editors:
  1. Shinsuke Ikeda

    1. Inst. of Soc. and Econ. Research, Osaka University, Ibaraki, Japan

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  2. Hideaki Kiyoshi Kato

    1. Graduate School of Economics, Nagoya University, Nagoya, Japan

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  3. Fumio Ohtake

    1. Institute of Social and Economic Research, Osaka University, Ibaraki, Japan

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  4. Yoshiro Tsutsui

    1. Faculty of Economics, Konan University, Kobe, Japan

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  • Collects for the first time works on behavioral economics/finance by representative Japanese authors

  • Adds and expounds original supplementary data on related research and recent advances for all topics

  • Covers a broad range of topics from behavioral economics to finance and from preferences to happiness

  • Includes supplementary material: sn.pub/extras

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Table of contents (24 chapters)

  1. Front Matter

    Pages i-xviii
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  2. Intergenerational Interactions

    1. Front Matter

      Pages 1-1
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    2. An Equilibrium Model of Child Maltreatment

      • Hideo Akabayashi
      Pages 3-41

    3. Tough Love and Intergenerational Altruism

      • Vipul Bhatt, Masao Ogaki
      Pages 43-78

  3. Behavioral Macroeconomics

    1. Front Matter

      Pages 79-79
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    2. Consumer Interdependence via Reference Groups

      • Hiroaki Hayakawa, Yiannis Venieris
      Pages 81-99

    3. Bounded Rationality, Social and Cultural Norms, and Interdependence via Reference Groups

      • Hiroaki Hayakawa
      Pages 101-139

    4. Keeping One Step Ahead of the Joneses: Status, the Distribution of Wealth, and Long Run Growth

      • Koichi Futagami, Akihisa Shibata
      Pages 141-162

    5. Macroeconomic Implications of Conspicuous Consumption: A Sombartian Dynamic Model

      • Katsunori Yamada
      Pages 163-190

    6. On Persistent Demand Shortages: A Behavioural Approach

      • Yoshiyasu Ono, Junichiro Ishida
      Pages 191-226

  4. Time Preference in Macroeconomics

    1. Front Matter

      Pages 227-227
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    2. Rate of Time Preference, Intertemporal Elasticity of Substitution, and Level of Wealth

      • Masao Ogaki, Andrew Atkeson
      Pages 229-247

    3. Economic Development and Time Preference Schedule: The Case of Japan and East Asian NICs

      • Kazuo Ogawa
      Pages 249-271

    4. Luxury and Wealth

      • Shinsuke Ikeda
      Pages 273-309

    5. On Decreasing Marginal Impatience

      • Ken-ichi Hirose, Shinsuke Ikeda
      Pages 311-332

  5. Bubbles and Crash

    1. Front Matter

      Pages 333-333
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    2. Why Did the Nikkei Crash? Expanding the Scope of Expectations Data Collection

      • Robert J. Shiller, Fumiko Kon-Ya, Yoshiro Tsutsui
      Pages 335-356

    3. Price Bubbles Sans Dividend Anchors: Evidence from Laboratory Stock Markets

      • Shinichi Hirota, Shyam Sunder
      Pages 357-395

  6. Experimental Markets

    1. Front Matter

      Pages 397-397
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    2. Revenue Non-equivalence Between the English and the Second-Price Auctions: Experimental Evidence

      • Chew Soo Hong, Naoko Nishimura
      Pages 399-418
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Keywords

About this book

This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of multiple agents and/or market phenomena by using behavioral economics models. Reflecting the diverse fields of the editors, the book captures broad influences of behavioral economics on various topics in economics. Those subjects include parental altruism, economic growth and development, the relative and permanent income hypotheses, wealth distribution, asset price bubbles, auctions, search, contracts, personnel management and market efficiency and anomalies in financial markets. The chapter authors have added newly written addenda to the original articles in which they address their own subsequent works, supplementary analyses, detailed information on the underlying data and/or recent literature surveys. This will help readers to further understand recent developments in behavioral economics and related research.

Editors and Affiliations

  • Inst. of Soc. and Econ. Research, Osaka University, Ibaraki, Japan

    Shinsuke Ikeda

  • Graduate School of Economics, Nagoya University, Nagoya, Japan

    Hideaki Kiyoshi Kato

  • Institute of Social and Economic Research, Osaka University, Ibaraki, Japan

    Fumio Ohtake

  • Faculty of Economics, Konan University, Kobe, Japan

    Yoshiro Tsutsui

About the editors

Editors

Shinsuke Ikeda is a professor at the Institute of Social and Economic Research (ISER), Osaka University and serves as the director of the Research Centre of Behavioral Economics in ISER. He got a B.Com. of Kobe University in 1980 and a Ph.D. (Doctor) of Osaka University (economics) in 1997. He was the former president of the Association of Behavioral Economics and Finance. He published articles on behavioral economics, macroeconomic dynamics and asset pricing in Journal of Finance, Journal of Health Economics, Journal of International Economics, Journal of Monetary Economics, International Economic Review, etc. His work on behavioral economics is incorporated into the book Economics of Self-Destructive Choices, Springer, to appear in 2015.

Hideaki Kiyoshi Kato is a professor of finance at Graduate School of Economics, Nagoya University, Nagoya, Japan. Before joining Nagoya University, he taught at Kobe University. He received his Ph.D. degree from the University of Utah in 1985.  He has published several books and more than 30 articles in the leading finance journals such as Review of Financial Studies, Management Science, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, International Review of Finance, Japan and the World Economy, Pacific Basin Finance Journal, Journal of Portfolio Management, Journal of Financial Research, Journal of Banking and Finance, and Journal of Futures Markets on subjects including the market efficiency and anomalies, stock options, investor behavior, dividend policy, equity offerings, and stock index futures. He is currently an associate editor of Pacific Basin Finance Journal and International Review of Finance.

Fumio Ohtake is Osaka University distinguished professor and a professor in the Institute of Social and Economic Research at Osaka University and an executive vice president of Osaka University. He earned his M.A. and a Ph.D. from Osaka University in 1985 and 1996, respectively and a B.A. from Kyoto University in 1983.  He is the president of the Association of Behavioral Economics and Finance, and an executive director of the Japanese Economic Association. His research topics are behavioral economics, labor economics, income distribution and household behavior.  He is also a recipient of the 2005 Nikkei Prize for Excellent Books in Economic Science; the 2005 Suntory Prize for Social Science and Humanities; the 2005 Economist Prize; the 2006 Ishikawa Prize of the Japanese Economic Association; and the 2008 Japan Academy Prize.

Yoshiro Tsutsui is a professor of economics at Konan University. He had previously taught at Nagoya City University and Osaka University. He was awarded a Ph.D. (economics) from Osaka University. He was the first president of the Association of Behavioral Economics and Finance and the president of Japan Society of Monetary Economics. His primary areas of teaching and research are behavioral economics and banking and finance. Currently, his research includes happiness study, time discounting, international linkage of stock prices and regional banking and finance. His publications appeared in Review of Economics and Statistics, Journal of Financial and Quantitative Analysis, Journal of Banking and Finance, Journal of Risk and Uncertainty, Regional Science and Urban Economics and Journal of Research in Personality. In 1988, his book, The Financial Markets and Banking Industry: Economic Analysis of Industrial Organization (Toyokeizai-Shinpo Sha, in Japanese) was awarded the Nikkei Prize for Excellent Books in Economic Science.

Bibliographic Information

  • Book Title: Behavioral Interactions, Markets, and Economic Dynamics

  • Book Subtitle: Topics in Behavioral Economics

  • Editors: Shinsuke Ikeda, Hideaki Kiyoshi Kato, Fumio Ohtake, Yoshiro Tsutsui

  • DOI: https://doi.org/10.1007/978-4-431-55501-8

  • Publisher: Springer Tokyo

  • eBook Packages: Economics and Finance, Economics and Finance (R0)

  • Copyright Information: Springer Japan 2016

  • Hardcover ISBN: 978-4-431-55500-1Published: 24 September 2015

  • Softcover ISBN: 978-4-431-56291-7Published: 23 August 2016

  • eBook ISBN: 978-4-431-55501-8Published: 12 September 2015

  • Edition Number: 1

  • Number of Pages: XVIII, 669

  • Number of Illustrations: 81 b/w illustrations, 6 illustrations in colour

  • Topics: Finance, general, Macroeconomics/Monetary Economics//Financial Economics, Industrial and Organizational Psychology

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