Time-inconsistent Behavior and Efficacy of Self-control

• Project/Area Number: 20330067
• Research Category: Grant-in-Aid for Scientific Research (B)
• Allocation Type: Single-year Grants
• Section: 一般
• Research Field: Public finance/Monetary economics
• Research Institution: Waseda University
• Principal Investigator: HIRUMA Fumihiko 早稲田大学, 商学学術院, 教授 (00063793)
• Co-Investigator(Kenkyū-buntansha): IKEDA Shinsuke 大阪大学, 社会経済研究所, 教授 (70184421) ; SUSAO Masayuki 長崎大学, 経済学部, 教授 (40206454) ; TAKAHASHI Taiki 北海道大学, 文学研究科・社会科学実験研究センター, 准教授 (60374170) ; TSUTSUI Yoshirou 大阪大学, 大学院・経済学研究科, 教授 (50163845)
• Project Period (FY): 2008 – 2011
• Project Status: Completed (Fiscal Year 2011)
• Budget Amount: ¥18,460,000 (Direct Cost: ¥14,200,000、Indirect Cost: ¥4,260,000); Fiscal Year 2011: ¥3,770,000 (Direct Cost: ¥2,900,000、Indirect Cost: ¥870,000); Fiscal Year 2010: ¥6,890,000 (Direct Cost: ¥5,300,000、Indirect Cost: ¥1,590,000); Fiscal Year 2009: ¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000); Fiscal Year 2008: ¥3,120,000 (Direct Cost: ¥2,400,000、Indirect Cost: ¥720,000)
• Keywords: 時間不整合性 / 時間割引率 / 準双曲割引 / 神経経済学 / 自制力 / 大脳基底核 / 背外側前頭前野 / 認知的制御 / 解釈レベル理論 / 双曲割引 / 自制心 / 認知能力 / パーソナリティ / 2重システム論 / 単一システム論 / セルフ・コントロール / 期間効果 / 衝動性 / 中毒 / ニューロ・エコノミックス

Research Abstract

Time discount rate is an important factor determining decision-making between present and future. The higher(lower) time discount rate implies the present-biased(future-oriented) decision-making. Our survey studies revealed that the respondents who have higher cognitive ability and stronger self-control tend to have lower time discount rate. This result implies the possibility of education as a tool to amend the time discount rate.

Research Products

• [Journal Article] A Neuroeconomic theory of rational addiction and nonlinear time-perception (2011)
  • Author(s): T. Takahashi
  • Journal Title: NueroEndocrinology Volume: Vol.32 Pages: 221-225
  • Peer Reviewed
• [Journal Article] 衝動買い、時間割引率、神経経済学 (2011)
  • Author(s): 晝間文彦
  • Journal Title: 流通情報 Volume: Vol.38, No.3 Pages: 6-14
• [Journal Article] 準双曲割引と自制問題 (2011)
  • Author(s): 晝間文彦
  • Journal Title: パーソナル・ファイナンス学会年報 Volume: No.11 Pages: 1-15
  • NAID: 110008752149
• [Journal Article] A neuroeconomic theory of rational addiction and nonlinear time-perception (2011)
  • Author(s): T, Takaahashi
  • Journal Title: NeuroEndocrinology Volume: 32 Pages: 221-225
  • Peer Reviewed
• [Journal Article] 準双曲割引と自制問題 (2011)
  • Author(s): 畫間文彦
  • Journal Title: パーソナル・ファイナンス学会年報 Volume: 11 Pages: 1-15
• [Journal Article] 衝動買い、時間割引率、神経経済学 (2011)
  • Author(s): 畫間文彦
  • Journal Title: 流通情報 Volume: 43 Pages: 6-14
• [Journal Article] Time Discounting : Delay Effect and Procastinating Behavior (2011)
  • Author(s): S.Sasaki, S.Xie, S.Ikeda, J.Qin, Y.Tsutsui
  • Journal Title: GCOE Discussion Paper Series NO.19 Pages: 1-33
• [Journal Article] Psychophysics of the probability weighting function (2011)
  • Author(s): Takahashi T
  • Journal Title: Physics A Volume: 390 Pages: 902-905
  • NAID: 120002834786
  • Peer Reviewed
• [Journal Article] A policy to promote influenza vaccination : A behavioral economic approach (2010)
  • Author(s): Y.Tsutsui, U.Benzion, S.Shahrabani, G Y.Din
  • Journal Title: Health Policy Vol.97, No.2-3 Pages: 238-249
  • Peer Reviewed
• [Journal Article] Stress hormones predict hyperbolic time-discount rates six months later in adults_. (2010)
  • Author(s): T.Takahashi, et al.
  • Journal Title: Neuro Endocrinol Lett. 31(5) Pages: 616-621
  • Peer Reviewed
• [Journal Article] the sign effect, and the body mass index (2010)
  • Author(s): Ikeda, Shinsuke, Myong-Il Kang, Fumio Ohtake, Hyperbolic discounting
  • Journal Title: Journal of Health Economics 29(2) Pages: 268-284
  • Peer Reviewed
• [Journal Article] A policy to promote influenza vaccination : A behavioral economic approach (2010)
  • Author(s): Yoshiro Tsutsui, Uri Bebzion, Shosh Shahra bani, anGregory Yom Dind
  • Journal Title: Health policy Volume: 97 Pages: 238-249
  • Peer Reviewed
• [Journal Article] Stress hormones predict hyperbolic time-discount rates six months later in adults (2010)
  • Author(s): Takahashi T, et al.
  • Journal Title: Neuro Endocrinol Lett. Volume: 31 Pages: 616-621
  • Peer Reviewed
• [Journal Article] Empirical Research on the Relations amongDuration, Volume and Orderflow with Ultra-High FrequencyUSD JPY Rate (2010)
  • Author(s): Masayuki Susai
  • Journal Title: Proceedings of 22nd Asian-Pacific Conference on International Accounting Issues Volume: (CD-ROM)
  • Peer Reviewed
• [Journal Article] Time discounting : declining impatience and interval effect (2009)
  • Author(s): Y. Kinari, Y. Tsutsui, & F. Ohtake
  • Journal Title: Journal of Risk and Uncertainty Volume: Vol.39 Pages: 87-112
  • Peer Reviewed
• [Journal Article] Theoretical Framework for Neuroeconomis of intertemporal choice, Journal of Neuroscience (2009)
  • Author(s): T. Takahashi
  • Journal Title: Psychology, and Economics Volume: Vol.2 Pages: 75-90
  • Peer Reviewed
• [Journal Article] 脳の特性と経済行動 (2009)
  • Author(s): 晝間文彦
  • Journal Title: 臨床精神医学 Volume: Vol.38, No.1 Pages: 43-50
• [Journal Article] Time Discounting: Declining Impatience and Interval Effect (2009)
  • Author(s): Y.Kinari, Y.Tsutsui, F.Ohtake
  • Journal Title: Journal of Risk and Uncertainty Vol.39 Pages: 87-112
  • Peer Reviewed
• [Journal Article] 脳の特性と経済行動 (2009)
  • Author(s): 晝間文彦
  • Journal Title: 臨床精神医学 38巻 Pages: 43-50
• [Journal Article] Time Discounting : Declining Impatience and Interval Effect (2009)
  • Author(s): Yusuke Kinari, Fumio Ohrtake, Yoshiro Tsutsui
  • Journal Title: Journal of Risk and Uncertainty 39 Pages: 87-112
  • Peer Reviewed
• [Journal Article] Theoretical Frameworks for Neuroeconomics of Intertemporal Choice (2009)
  • Author(s): Taiki Takahashi
  • Journal Title: Journal of Neuroscience, Psuchology, and Economics 2 Pages: 75-90
  • Peer Reviewed
• [Journal Article] 個人金融サービス提供の向上に向けて:行動経済学的アプローチ (2009)
  • Author(s): 畫間文彦
  • Journal Title: 金融調査研究会報告 43 Pages: 43-54
• [Journal Article] 脳の特性と経済行動 (2009)
  • Author(s): 昼間 文彦
  • Journal Title: 臨床精神医学 38 Pages: 43-50
• [Journal Article] なぜあなたは不幸なのか (2009)
  • Author(s): 筒井義郎, 大竹文雄, 池田新介
  • Journal Title: 大阪大学経済学 58 Pages: 20-57
  • NAID: 120005249083
• [Journal Article] On decreasing marginal impatience (2008)
  • Author(s): K. Hirose & S. Ikeda
  • Journal Title: Japanese Economic Review Volume: Vo. 59 Pages: 259-274
• [Journal Article] 幸福度で測った地域間格差 (2008)
  • Author(s): 山根智沙子, 山根承子, 筒井義郎
  • Journal Title: 行動経済学 1 Pages: 1-46
  • NAID: 130004554841
  • Peer Reviewed
• [Journal Article] Biophysics of risk aversion based on neurotransmitterreceptor theory (2008)
  • Author(s): Takahashi, T
  • Journal Title: Neuro Endocrinology Letters 29 Pages: 399-404
  • Peer Reviewed
• [Journal Article] Psychophysics of time-perception andintertemporal choice models (2008)
  • Author(s): Takahashi T, Oono, Radford MHB
  • Journal Title: PHYSICA A : STATISTICAL MECHANICS AND ITS APPLICATIONS 387 Pages: 2066-2074
  • Peer Reviewed
• [Journal Article] Volume or Order Flow? Which is more Informative in Really Traded Yen/Dollar Foreign Exchange Rate (2008)
  • Author(s): Susai, M
  • Journal Title: Proceedings of the 16th Annual Conference on Pacific Basin Finance, Economics, Accounting and Management (CD版)
  • Peer Reviewed
• [Journal Article] Some of the Features of Japanese Professional Fund Managers Investment Behavior : Questionnaire-based Analysis (2008)
  • Author(s): M. Susai, H. Moriyasu, M. Hayashikawa
  • Journal Title: Proceedings of the European Accounting Association Annual Meeting (CD版)
  • Peer Reviewed
• [Journal Article] On decreasing marginal impatience (2008)
  • Author(s): Hirose, K, Ikeda, S
  • Journal Title: Japanese Economic Review 59 Pages: 259-274
  • Peer Reviewed
• [Presentation] Psychophisical time and valuation of temporal discounting of gain and loss (2011)
  • Author(s): Han, R & T, Takahashi
  • Organizer: 行動経済学会
  • Place of Presentation: 兵庫県
  • Year and Date: 2011-12-11
• [Presentation] Smokers, smoking deprivation, and time discounting (2011)
  • Author(s): 米田紘康、筒井義郎
  • Organizer: 行動経済学会
  • Place of Presentation: 兵庫県
  • Year and Date: 2011-12-11
• [Presentation] Psychophisical time and Valuation of temporal discounting of gain and loss (2011)
  • Author(s): Han, R, T, Takahashi
  • Organizer: 行動経済学会
  • Place of Presentation: 兵庫県
  • Year and Date: 2011-12-11
• [Presentation] 準双曲割引と自制問題 (2010)
  • Author(s): 晝間文彦
  • Organizer: パーソナル・ファイナンス学会
  • Place of Presentation: 北海道
  • Year and Date: 2010-10-02
• [Presentation] 準双曲割引と自制問題 (2010)
  • Author(s): 晝間文彦
  • Organizer: パーソナル・ファイナンス学会
  • Place of Presentation: 札幌大学
  • Year and Date: 2010-10-02
• [Presentation] 準双曲割引と自制問題 (2010)
  • Author(s): 晝間文彦
  • Organizer: パーソナルファイナンス学会
  • Place of Presentation: 札幌大学
  • Year and Date: 2010-10-02
• [Presentation] アノマリーと金融教育:自覚・自制を中心として (2010)
  • Author(s): 晝間文彦
  • Organizer: 生活経済学会
  • Place of Presentation: 宮城県
  • Year and Date: 2010-06-20
• [Presentation] アノマリーと金融教育:自覚・自制を中心として (2010)
  • Author(s): 晝間文彦
  • Organizer: 生活経済学会
  • Place of Presentation: 東北福祉大学
  • Year and Date: 2010-06-20
• [Presentation] Decision to get influenza vaccination : A behavioral economic approach (2009)
  • Author(s): Y. Tsutsui, U.Benzion,S.Shahrabani, Gregory Yom Din.
  • Organizer: 行動経済学会
  • Place of Presentation: 名古屋大学
  • Year and Date: 2009-12-12
• [Presentation] Genetic Inheritance of Time Discounting Behavior (2009)
  • Author(s): 平田憲司郎・早川和生・池田新介・筒井義郎・大竹文雄
  • Organizer: 日本経済学会
  • Place of Presentation: 専修大学
  • Year and Date: 2009-10-10
• [Presentation] Volume or Order Flow? Which is more Informative in Really Traded Yen/Dollar Foreign Exchange Rate with New Data Set (2008)
  • Author(s): Susai, M
  • Organizer: 20th Asian Pacific Conference on International Accounting lssues
  • Place of Presentation: パリ(フランス)
  • Year and Date: 2008-11-12
• [Presentation] Some of the Features of Japanese Professional Fund Managers Investment Behavior : Questionnaire-based Analysis (2008)
  • Author(s): M. Susai, H. Moriyasu, M. Hayashikawa
  • Organizer: European Accounting Association Annual Meeting
  • Place of Presentation: ロッテルダム(オランダ)
  • Year and Date: 2008-04-25
• [Book] 図解雑学-行動経済学 (2011)
  • Author(s): 筒井義郎、山根承子
  • Total Pages: 223
  • Publisher: ナツメ社
• [Book] Studies on Financial Markets in East Asia (2011)
  • Author(s): Masayuki Susai, Shigeru Uchida
  • Total Pages: 180
  • Publisher: World Scientific
• [Book] Empirical study on Asian Financial Markets (2008)
  • Author(s): M. Susai, H. Okada (Eds. )
  • Total Pages: 250
  • Publisher: Kyushu University Press