Behavioral Economics of Preferences, Choices, and Happiness

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

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Behavioral Economics of Preferences, Choices, and Happiness

Behavioral Economics of Preferences, Choices, and Happiness

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

Behavioral Economics of Preferences, Choices, and Happiness

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Editors Shinsuke Ikeda Institute of Social and Economic Research Osaka University Ibaraki, Osaka, Japan

Hideaki Kiyoshi Kato Graduate School of Economics Nagoya University Nagoya, Aichi, Japan

Fumio Ohtake Institute of Social and Economic Research Osaka University Ibaraki, Osaka, Japan

Yoshiro Tsutsui Faculty of Economics Konan University Kobe, Hyogo, Japan

ISBN 978-4-431-55401-1 DOI 10.1007/978-4-431-55402-8

ISBN 978-4-431-55402-8 (eBook)

Library of Congress Control Number: 2015942514 Springer Tokyo Heidelberg New York Dordrecht London © Springer Japan 2016 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper Springer Japan KK is part of Springer Science+Business Media (www.springer.com)

Preface

This book aims to provide new and broader directions for the future development of behavioral economics and finance. To do so, we collect important contributions in behavioral economics/finance and related topics from journal publications of Japanese researchers to date. All four editors of this book have been interested in extending the reach of standard theories in their own fields using behavioral economics. A project to edit some sort of readings or handbooks on behavioral economics for the promotion of economic research came about naturally as a result of our frequent interactions while running academic meetings on behavioral economics, especially those of the Association of Behavioral Economics and Finance (ABEF), the Japanese Economic Association (JEA), and the Nippon Finance Association (NFA). In addition, these meetings gave us access to important works that were motivated by behavioral economics. We therefore have compiled and edited a couple of independent volumes in an attempt to capt