Behavioral Economics of Preferences, Choices, and Happiness

1. Front Matter

   Pages i-xx

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2. Attitude Toward Risk and Time

   1. Front Matter

      Pages 1-1

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   2. Risk and Time Preferences: Linking Experimental and Household Survey Data from Vietnam

      • Tomomi Tanaka, Colin F. Camerer, Quang Nguyen

      Pages 3-25

   3. Simultaneous Measurement of Time and Risk Preferences: Stated Preference Discrete Choice Modeling Analysis Depending on Smoking Behavior

      • Takanori Ida, Rei Goto

      Pages 27-48

   4. Time Discounting: Declining Impatience and Interval Effect

      • Yusuke Kinari, Fumio Ohtake, Yoshiro Tsutsui

      Pages 49-76

   5. Non-parametric Test of Time Consistency: Present Bias and Future Bias

      • Kan Takeuchi

      Pages 77-116

   6. Loss of Self-Control in Intertemporal Choice May Be Attributable to Logarithmic Time-Perception

      • Taiki Takahashi

      Pages 117-122

   7. Experiments on Risk Attitude: The Case of Chinese Students

      • Shunichiro Sasaki, Shiyu Xie, Fumio Ohtake, Jie Qin, Yoshiro Tsutsui

      Pages 123-150

3. Addiction

   1. Front Matter

      Pages 151-151

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   2. Interdependency Among Addictive Behaviours and Time/Risk Preferences: Discrete Choice Model Analysis of Smoking, Drinking, and Gambling

      • Takanori Ida, Rei Goto

      Pages 153-177

   3. Discounting Delayed and Probabilistic Monetary Gains and Losses by Smokers of Cigarettes

      • Yu Ohmura, Taiki Takahashi, Nozomi Kitamura

      Pages 179-196

   4. Time Discounting and Smoking Behavior: Evidence from a Panel Survey

      • Myong-Il Kang, Shinsuke Ikeda

      Pages 197-226

   5. Smokers, Smoking Deprivation, and Time Discounting

      • Shoko Yamane, Hiroyasu Yoneda, Taiki Takahashi, Yoshio Kamijo, Yasuhiro Komori, Fumihiko Hiruma et al.

      Pages 227-253

   6. The Effects of the Social Norm on Cigarette Consumption: Evidence from Japan Using Panel Data

      • Eiji Yamamura

      Pages 255-273

4. Health

   1. Front Matter

      Pages 275-275

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   2. Hyperbolic Discounting, the Sign Effect, and the Body Mass Index

      • Shinsuke Ikeda, Myong-Il Kang, Fumio Ohtake

      Pages 277-313

   3. Economic and Behavioral Factors in an Individual’s Decision to Take the Influenza Vaccination in Japan

      • Yoshiro Tsutsui, Uri Benzion, Shosh Shahrabani

      Pages 315-337

5. Social Preferences

   1. Front Matter

      Pages 339-339

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   2. Another Avenue for Anatomy of Income Comparisons: Evidence from Hypothetical Choice Experiments

      • Katsunori Yamada, Masayuki Sato

      Pages 341-384

   3. Social Capital, Household Income, and Preferences for Income Redistribution

      • Eiji Yamamura

      Pages 385-412

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.

• Behavioral economics
• Behavioral finance
• Happiness
• Risk
• Time discounting

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

  Shinsuke Ikeda

• Nagoya University Graduate School of Economics, 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

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.

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