| Budget Amount *help |
¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Outline of Final Research Achievements |
In order to clarify whether or not holding cash physically has an influence on individual rationality, we conducted ultimatum game experiment and investment experiments during the research period. Both experiments were to verify whether two different forms of giving subjects initial endowments (i.e., cash and non-cash) would affect their behaviors. The results of both experiments suggest that decision making is more cautious when subjects hold cash in their hands than when subjects do not hold cash physically. It is also considered that such behavioral change is caused by the endowment effect and loss aversion by holding cash physically.
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