How does the risk preference affect the industrial organization of banking?

• Project/Area Number: 20330069
• 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: Ritsumeikan University
• Principal Investigator: IZAWA Hiroshi 立命館大学, 経済学部, 教授 (70222924)
• Co-Investigator(Kenkyū-buntansha): OKAWA Takao 立命館大学, 経済学部, 教授 (10258494) ; OKAMURA Makoto 広島大学, 社会科学研究科, 教授 (30177084) ; MORI Nobuhiro 奈良教育大学, 教育学部, 准教授 (40190996)
• Project Period (FY): 2008 – 2011
• Project Status: Completed (Fiscal Year 2011)
• Budget Amount: ¥18,720,000 (Direct Cost: ¥14,400,000、Indirect Cost: ¥4,320,000); Fiscal Year 2011: ¥2,210,000 (Direct Cost: ¥1,700,000、Indirect Cost: ¥510,000); Fiscal Year 2010: ¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000); Fiscal Year 2009: ¥7,150,000 (Direct Cost: ¥5,500,000、Indirect Cost: ¥1,650,000); Fiscal Year 2008: ¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000)
• Keywords: リスク選好 / 金融リテラシー / 実験経済学 / 産業組織論 / 消費者金融 / 産業組織分析

Research Abstract

We conducted several economic experiments where the subjects were required to make consumption plans for a year with several consumer credits. And we show the theoretical conditions for the excess entry theorem in the consumer credit market.

Research Products

• [Journal Article] The Effects of Financial Relationships on Employment Relationships and Executive Compensation : The Japanese Model of Corporate Governance Revisited (2012)
  • Author(s): H. Izawa, K. Ito and Y. Dohmyo
  • Journal Title: Middle Eastern Economics and Finance Volume: 16 Pages: 151-166
  • Peer Reviewed
• [Journal Article] The Effects of Financial Relationships on Employment Relationships and Executive Compensation : The Japanese Model of Corporate Governance Revisited (2012)
  • Author(s): Hiroshi Izawa, Kenichi Ito, Yoshihiro Dohmyo
  • Journal Title: Middle Eastern Economics and Finance Volume: No.16 Pages: 151-166
  • Peer Reviewed
• [Journal Article] Borrowing Behavior and Attitudes Towards Risk and Time-Experimental Approach (2011)
  • Author(s): H. Izawa and G. Mardyla
  • Journal Title: Journal of International Finance and Economics Volume: vol.11, no.1 Pages: 45-54
  • Peer Reviewed
• [Journal Article] Market Size and Firm Location in a Service Industry (2011)
  • Author(s): T. Okawa, H. Kurata and M. Okamura
  • Journal Title: Review of International Economics Volume: Vol.19 No.1 Pages: 1-14
  • Peer Reviewed
• [Journal Article] Borrowing Behavior and Attitudes Towards Risk and Time-Experimental Approach (2011)
  • Author(s): Hiroshi Izawa, Grzegorz Mardyla
  • Journal Title: Journal of International Finance and Economics Volume: vol.11,no.1 Pages: 45-54
  • Peer Reviewed
• [Journal Article] Optimal Tariff Policy With Endogenous Location Choice (2011)
  • Author(s): Takao Ohkawa, Makoto Okamura
  • Journal Title: International Journal of Development and Conflict Pages: 321-338
  • Peer Reviewed
• [Journal Article] Borrowing Behavior and Attitudes Towards Risk and Time-Experimental Approach, Forthcoming (2011)
  • Author(s): H.Izawa, G.Mardyla
  • Journal Title: Journal of International Finance and Economics. Volume: (印刷中)
  • Peer Reviewed
• [Journal Article] Market size, location of firms and economic welfare. (2011)
  • Author(s): H.Kurata, T.Ohkawa, M.Okamura.
  • Journal Title: Review of International Economics Volume: (印刷中)
  • Peer Reviewed
• [Journal Article] Planned antiobsolescence occurs when consumers engage in maintenance. (2011)
  • Author(s): H.Kinokuni, T.Ohkawa, M.Okamura
  • Journal Title: International Journal of Industrial Organization Volume: 28 Pages: 441-450
  • Peer Reviewed
• [Journal Article] Random Walk Perception and Information Acquisition in an Interactive Prediction Task Experiment (2010)
  • Author(s): H. Izawa and G. Mardyla
  • Journal Title: Journal of Behavioral Economics and Finance Volume: Vol.3 Pages: 226-229
  • NAID: 130004554866
  • Peer Reviewed
• [Journal Article] Planned anti-obsolescence occurs when consumers engage in maintenance (2010)
  • Author(s): H. Kikokuni, T. Ohkawa and M. Okamura
  • Journal Title: International Journal of Industrial Organization Volume: Vol.28, No.5 Pages: 441-450
  • Peer Reviewed
• [Journal Article] マルデワ・グレッグ「消費・消費者ローン経済実験システムの開発」 (2010)
  • Author(s): 井澤裕司
  • Journal Title: パーソナルファイナンス学会年報 Volume: 11号 Pages: 144-144
• [Journal Article] "Market Size and Firm Location in a Service Industry,"(Co-authored by H.Kurata and M.Okamura) (2010)
  • Author(s): Takao Ohkawa
  • Journal Title: Review of International Economics (印刷中)
  • Peer Reviewed
• [Journal Article] Planned antiobsolescence occurs when consumers engage in maintenance (2010)
  • Author(s): Takao Ohkawa
  • Journal Title: International Journal of Industrial Organization (印刷中)
  • Peer Reviewed
• [Journal Article] 異なる企業金融タイプをもつ複占市場分析-株主価値最大化企業VS借入価値最大化企業 (2009)
  • Author(s): 新海哲哉、大川隆夫、岡村誠
  • Journal Title: 経済学論究 Volume: 63巻2号 Pages: 123-143
• [Journal Article] The Long-run Equilibrium of the Consumer Loan Market (2009)
  • Author(s): N. Mori, M. Okamura and T. Ohkawa
  • Journal Title: Studies in Regional Science Volume: vol.39 Pages: 941-49
  • NAID: 130000263141
  • Peer Reviewed
• [Journal Article] Location choice, competition, and welfare in non-tradable service FDI (2009)
  • Author(s): T. Okawa, H. Kurata and M. Okamura
  • Journal Title: International Review of Economics and Finance Volume: 18 Pages: 20-25
  • Peer Reviewed
• [Journal Article] Non Expected Utility Maximizers Behave as if Expected Utility Maximizers : An Experimental Test (2009)
  • Author(s): H. Kurata, H. Izawa and M. Okamura
  • Journal Title: Journal of Socio-Economics Volume: 38 Pages: 622-629
  • Peer Reviewed
• [Journal Article] Non Expected Utility Maximizers Behave as if Expected Utility Maximizers : An Experimental Test (2009)
  • Author(s): H.Kurata, H.Izawa, M.Okamura
  • Journal Title: Journal of Socio-Economics 38 Pages: 622-629
  • Peer Reviewed
• [Journal Article] The Long-run Equilibrium of the Consumer Loan Market (2009)
  • Author(s): N.Mori, M.Okamura, T.Ohkawa
  • Journal Title: Studies in Regional Science 39(4) Pages: 941-949
  • NAID: 130000263141
  • Peer Reviewed
• [Journal Article] 補完的技術における技術選択とクロスライセンス契約 (2009)
  • Author(s): 大川隆夫, 岡村誠, 新海哲哉
  • Journal Title: 「社会科学研究」(東京大学社会経済研究所) 61(2)(印刷中)
  • NAID: 130007983018
• [Journal Article] 異なる企業金融タイプをもつ複占市場分析-株主価値最大化企業VS借入価値最大化企業」 (2009)
  • Author(s): 大川隆夫, 岡村誠, 新海哲哉
  • Journal Title: 「経済学論究」(関西学院大学経済学部) 63(2) Pages: 123-143
• [Journal Article] Location choice, competition, and welfare in non-tradable service FDI (2009)
  • Author(s): T. Ohkawa, H. Kurata, M. Okamura
  • Journal Title: International Review of Economics and Finance 18 Pages: 20-25
  • Peer Reviewed
• [Journal Article] Non-expected utility Maximizers Behave as if Expected Utility Maximizers : An Experimental Test (2009)
  • Author(s): Kurata, H., H. Izawa, M. Okamura
  • Journal Title: Journal of Socio-Economics (掲載決定印刷中)
  • Peer Reviewed
• [Journal Article] The Long-run Equilibrium ot the Consumer Loan Market (2009)
  • Author(s): N. Mori, M. Okamura, T. Ohkawa.
  • Journal Title: 地域学研究 (掲載決定印刷中)
  • Peer Reviewed
• [Journal Article] An Economic Analysis of Apathetic Behavior : Theory and Experiment (2008)
  • Author(s): Sibata, M.Okamura, T.Mori, N.Soyama
  • Journal Title: Journal of Socio-Economics 37 Pages: 90-107
  • Peer Reviewed
• [Journal Article] Borrowing Behavior and Attitudes Towards Risk and Time-Experimental Approach
  • Author(s): H.Izawa, G.Mardyla
  • Journal Title: Forthcoming in Journal of International Finance and Economics.
  • Peer Reviewed
• [Presentation] Allais Revisited : A Lottery Choice Experiment (2011)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: Economic Science Association Asia-Pacific Regional Meeting 2011
  • Place of Presentation: Xiamen(中国)
  • Year and Date: 2011-12-16
• [Presentation] Allais Revisited : A Lottery Choice Experiment (2011)
  • Author(s): Hiroshi Izawa, Grzegorz Mardyla
  • Organizer: Economic Science Association Asia-Pacific Regional Meeting 2011
  • Place of Presentation: Xiamen University(中国)
  • Year and Date: 2011-12-16
• [Presentation] Borrowing Behavior and Attitudes Towards Risk and Time. Experimental Approach (2011)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: 2011年度日本金融学会秋季大会
  • Place of Presentation: 近畿大学(大阪府)
  • Year and Date: 2011-09-19
• [Presentation] Endogenous Herding with and without Noise in a Laboratory Financial Market (2011)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: Economic Science Association European Conference 2011
  • Place of Presentation: Luxembourg(ルクセンブルク)
  • Year and Date: 2011-09-16
• [Presentation] Endogenous Herding with and without Noise in a Laboratory Financial Market (2011)
  • Author(s): Hiroshi Izawa, Grzegorz Mardyla
  • Organizer: Economic Science Association European Conference 2011
  • Place of Presentation: University of Luxembourg (Luxembourg)
  • Year and Date: 2011-09-16
• [Presentation] Borrowing Behavior and Attitudes Towards Risk and Time-Experimental Approach (2011)
  • Author(s): Hiroshi Izawa, Grzegorz Mardyla
  • Organizer: International Academy of Business and Economics, 2011 Summer Conference
  • Place of Presentation: Pompeu Fabra University, Barcelona(スペイン)
  • Year and Date: 2011-06-04
• [Presentation] Borrowing Behavior and Attitudes Towards Risk and Time. Experimental Approach (2011)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: International Academy of Business and Economics, 2011
  • Place of Presentation: Summer Conference, Barcelona(スペイン)
• [Presentation] A More Direct Experimental Test of Expected Utility Theory and Non-expected Utility Theory (2010)
  • Author(s): G.Mardyla, H.Izawa
  • Organizer: Asia-Pacific Economic Science Association
  • Place of Presentation: The University of Melbourne, Australia
  • Year and Date: 2010-02-19
• [Presentation] Random Walk Perception and Information Acquisition in an Interactive Prediction Task Experiment (2010)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: 行動経済学会第4回大会
  • Place of Presentation: 上智大学(東京都)
• [Presentation] Suspension Costs and Decision Clustering-Random Walk Perception and Information Acquisition in an Interactive Prediction Task (2010)
  • Author(s): H. Izawa and G. Mardyla
  • Organizer: Economic Science Association World Meeting 2010
  • Place of Presentation: Copenhagen,(Denmark)
• [Presentation] A More Direct Experimental Test of Expected Utility Theory and Non-expected Utility Theory (2010)
  • Author(s): H. Izawa, G. Mardyla, and R. Wada
  • Organizer: 2010 Asia-Pacific Economic Science Association Conference
  • Place of Presentation: The Melbourne,(Australia)
• [Presentation] Random Walk Perception and Information Acquisition in an Interactive Prediction Task Experiment (2010)
  • Author(s): H.Izawa, G.Mardyla
  • Organizer: 行動経済学会第4回大会
  • Place of Presentation: 上智大学
• [Presentation] Suspension Costs and Decision Clustering-Random Walk Perception and Information Acquisition in an Interactive Prediction Task, Economic Science Association World Meeting 2010 (2010)
  • Author(s): H.Izawa, G.Mardyla
  • Organizer: University of Copenhagen
  • Place of Presentation: Denmark
• [Presentation] A More Direct Experimental Test of Expected Utility Theory and Non-expected Utility Theory, 2010 Asia-Pacific Economic Science Association Conference (2010)
  • Author(s): H.Izawa, G.Mardyla, R.Wada
  • Organizer: The University of Melbourne
  • Place of Presentation: Australia
• [Presentation] Suspension Costs and Decision Clustering-Random Walk Perception and Information Acquisition in an Interactive Prediction Task (2010)
  • Author(s): H.Izawa, G.Mardyla
  • Organizer: Economic Science Association World Meeting 2010
  • Place of Presentation: University of Copenhagen, Denmark
• [Presentation] The Invalidity of the Separation Theorem and Risk Preference : An Experimental Examination (2009)
  • Author(s): H. Izawa
  • Organizer: Western Economic Association International, 84th Annual Conference
  • Place of Presentation: Vancouver, CANADA
• [Presentation] The Effects of Financial Relationships on Employment Relationships and Executive Compensation : The Japanese Model of Corporate Governance Revisited (2009)
  • Author(s): H. Izawa
  • Organizer: 5th Annual Asia-Pacific Economic Association Conference
  • Place of Presentation: California(米国)
• [Presentation] The Invalidity of the Separation Theorem and Risk Preference : An Experimental Examination. Western Economic Association International (2009)
  • Author(s): H.Izawa
  • Organizer: 84th Annual Conference
  • Place of Presentation: Vancouver, CANADA
• [Presentation] The Effects of Financial Relationships on Employment Relationships and Executive Compensation : The Japanese Model of Corporate Governance Revisited. (2009)
  • Author(s): H.Izawa
  • Organizer: 5th Annual Asia-Pacific Economic Association Conference, University of California
  • Place of Presentation: Santa Cruz
• [Presentation] The Invalidity of the Separation Theorem and Risk Preference : An Experimental Examination (2009)
  • Author(s): Hiroshi Izawa
  • Organizer: Western Economic Association International
  • Place of Presentation: Vancouver, CANADA
• [Presentation] The Effects of Financial Relationships on Employment Relationships and Executive Compensation : The Japanese Model of Corporate Governance Revisited (2009)
  • Author(s): Hiroshi Izawa
  • Organizer: Asia-Pacific Economic Association Conference
  • Place of Presentation: The University of California Santa Cruz
• [Book] 実験でわかった!感じる株式投資 (2008)
  • Author(s): 井澤裕司
  • Total Pages: 180
  • Publisher: ランダムハウス講談社
• [Book] 実験でわかった! 感じる株式投資 (2008)
  • Author(s): 井潭裕司
  • Total Pages: 180
  • Publisher: ランダムハウス講談社(ジャパン・ブック)