Empirical Study of Behavioral Economics Employing New Types of Data and Statistical Methods

• Project/Area Number: 18K12742
• Research Category: Grant-in-Aid for Early-Career Scientists
• Allocation Type: Multi-year Fund
• Review Section: Basic Section 07010:Economic theory-related
• Research Institution: The University of Tokyo
• Principal Investigator: Kayaba Yutaka 東京大学, 大学院経済学研究科(経済学部), 講師 (00708612)
• Project Period (FY): 2018-04-01 – 2024-03-31
• Project Status: Completed (Fiscal Year 2023)
• Budget Amount: ¥4,030,000 (Direct Cost: ¥3,100,000、Indirect Cost: ¥930,000); Fiscal Year 2020: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2019: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000); Fiscal Year 2018: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
• Keywords: 行動経済学 / 実験経済学 / 応用計量経済学

Outline of Final Research Achievements

The main achievements of the project are the followings; 1. We conducted economic experiments for repeated games with imperfect monitoring to examine the heterogeneity of strategies the subjects employ,using Strategy Frequency Estimation Methods. We conducted economic experiments on trading information goods in a network to examine whether the prices drop due to the competition among resellers of the information goods.

Academic Significance and Societal Importance of the Research Achievements

１．の研究は、暗黙のカルテルと呼ばれる、明示的なカルテル契約がなくても競争による価格の低下が見られない現象を応用の主眼においており、この現象の理解につながる。２．の研究は、ネットワークを通じた経済的取引についての理論研究が経済学における最先端の課題に位置付けられているが、その中の重要な理論のうちの一つを、実験を通じて検証した研究である。

Research Products

• [Journal Article] Two experiments on trading information goods in a network (2024)
  • Author(s): Hanaki Nobuyuki、Kayaba Yutaka、Maekawa Jun、Matsushima Hitoshi
  • Journal Title: Games and Economic Behavior Volume: 145 Pages: 1-18
  • DOI: 10.1016/j.geb.2024.02.002
  • Peer Reviewed / Open Access
• [Journal Article] The Effect of Framing in Sealed-Bid Auctions: Theory and Experiments (2023)
  • Author(s): Kayaba Yutaka、Maekawa Jun、Matsushima Hitoshi
  • Journal Title: SSRN Electronic Journal Volume: NA
  • DOI: 10.2139/ssrn.4550344
  • Open Access
• [Journal Article] TRADING INFORMATION GOODS ON A NETWORK: AN EXPERIMENT (2021)
  • Author(s): Nobuyuki Hanaki, Yutaka Kayaba, Jun Maekawa & Hitoshi Matsushima
  • Journal Title: ISER Discussion Paper Volume: 1151
  • Open Access
• [Journal Article] Accuracy and retaliation in repeated games with imperfect private monitoring: Experiments (2020)
  • Author(s): Kayaba Yutaka、Matsushima Hitoshi、Toyama Tomohisa
  • Journal Title: Games and Economic Behavior Volume: 120 Pages: 193-208
  • DOI: 10.1016/j.geb.2019.12.003
  • Peer Reviewed / Open Access / Int'l Joint Research
• [Journal Article] Accuracy and Retaliation in Repeated Games with Imperfect Private Monitoring: Experiments and Theory (2018)
  • Author(s): Yutaka Kayaba, Hitoshi Matsushima & Tomohisa Toyama
  • Journal Title: CARF Discussion Paper Volume: CARF-F-433
  • Open Access
• [Presentation] Describing The Concept of Value in The Purchase Activity: Conversation Analytic and Behavioral Economic Perspectives (2018)
  • Author(s): Satomi Kuroshima, Yutaka Kayaba & Takanobu Omata
  • Organizer: The 35th Annual Meeting of the Japanese Cognitive Science Society