In this paper, I investigate what is the difference in consumption behavior between hyperbolic and non-hyperbolic discounting households by using data from hJapan Household Survey on Consumer Preferences and Satisfactionh conducted by Osaka University. I show that the marginal propensity to...

Using a directed search model, modified from random matching, this paper investigates how trading frictions in asset markets affect portfolio choices, asset prices, and welfare. By solving the model numerically, it is demonstrated that the asset price increases (decreases) in the matching...

We extend the analysis of Campbell et al. (1993) on the relationship between the first-order daily stock return autocorrelation and stock market trading volume by allowing abrupt and smooth transition structures using lagged stock returns as a transition variable. Using U.S. stock market data,...

We experimentally investigate the existence of and possible origin of the disposition effect. Our approach has three distinct characteristics: Firstly, we created an experimental environment that closely mimics a real stock market and were thus able to obtain and analyze trading behavior data...

This paper investigates the influence of weather on happiness. While previous studies have examined climatic influence by comparing the well-being of people living in different regions, this paper focuses on how daily changes in weather affect individuals living in a single location. Our data...

This paper investigates the effect of the size and composition of the board of directors of Shinkin Banks on their efficiency and risk taking. Because employees are important stakeholders in Japanese firms, we define the relative size of the board of directors as the number of directors per...

In this paper we analyze the relation between the preferred prefecture to live and their regional characteristics in Japan using the data of questionnaire survey conducted by GCOE program of Osaka University in 2009 and 2010. We found: 1) Most people are satisfied with the current residential...

We experimentally investigate the existence of the disposition effect and diminishing sensitivity as its potential cause. Our approach includes three key characteristics: (i) An environment closely resembling actual stock markets; (ii) Individual-specific reference prices; (iii) A direct test of...

This paper investigates the individual outcomes of irrational thinking, including paranormality and non-scientific thinking. These modes of thinking are identified by factor analysis from a 2008 survey. Income and happiness are used as measures of performance. Empirical results reveal that both...

This paper is based on a questionnaire survey that examined gender differences with respect to forthcoming marriage, and to expected child birth. The following major results were identified: ‡@ Life satisfaction and subjective well-being were higher among people who planned to get married, as...