Portfolio Selection Behavior by Individuals in Japan Under the Financial liberalization with Special Refarence to Financial Information
| Project/Area Number |
07630091
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Waseda University |
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Principal Investigator |
MORI Teruo Waseda University Political Science and Economics, Professor Waseda Univ., 政治経済学部, 教授 (40111075)
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| Project Period (FY) |
1995 – 1996
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| Project Status |
Completed (Fiscal Year 1997)
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| Budget Amount *help |
¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 1996: ¥400,000 (Direct Cost: ¥400,000)
Fiscal Year 1995: ¥700,000 (Direct Cost: ¥700,000)
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| Keywords | Ergodic world / bounded rationality / valuable information / the cost to cellect and analyze information / the individuality of financial institution / generaliyd financial information / learning effect to information / Erogodicな世界 / 制約された合理性 / 情報入手コスト / 情報サーチ力 / 個人部門の金融情報認知度 / 不確実性とリスク / 期待効用極大化仮説 / 絶対的危険回避度 / 一定の確率分布をもつ世界 / 不確実性の世界 / 情報の差 / 流動性制約 |
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| Research Abstract |
We don't live in the ergodic world, as Neo-classical economists assume, but in the uncertain world. Though, it is never agnotic. We are going to find valuable economic informations and take a selection satisfying in our economy.
Our ability to cilllect and analyze economic informations acquisition andanalyze is not enough, and we, especially individuals, don't produce financial information by ourselves, because of speculiarity of financial assets and the non-individuality of financial institutions. We use the generalized financial in-formation dispatched by mass-media.
At the times of deposits rate in 1970' the generalized financial informations in favor to postal saving deposits were widespreaded by massmedia. On that ocassios, postal savings certificates-private time and saving deposit ratio increased with statistically significant results. Portfolio selection behavior by individuals in Japan responded to those informations.
Individuals with bounded rationality-not perfect rationality- have to acquire learning effects to those generalised financial informatoins. However, we could not find them with statistically significant results.
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Report
(3 results)
Research Products
(7 results)
