| Co-Investigator(Kenkyū-buntansha) |
木島 正明 広島大学, 情報科学部, 教授 (00186222)
田 園 龍谷大学, 経済学部, 准教授 (10609895)
西出 勝正 一橋大学, 大学院経済学研究科, 教授 (40410683)
深澤 正彰 大阪大学, 基礎工学研究科, 教授 (70506451)
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| Budget Amount *help |
¥29,900,000 (Direct Cost: ¥23,000,000、Indirect Cost: ¥6,900,000)
Fiscal Year 2017: ¥6,110,000 (Direct Cost: ¥4,700,000、Indirect Cost: ¥1,410,000)
Fiscal Year 2016: ¥6,110,000 (Direct Cost: ¥4,700,000、Indirect Cost: ¥1,410,000)
Fiscal Year 2015: ¥6,110,000 (Direct Cost: ¥4,700,000、Indirect Cost: ¥1,410,000)
Fiscal Year 2014: ¥6,110,000 (Direct Cost: ¥4,700,000、Indirect Cost: ¥1,410,000)
Fiscal Year 2013: ¥5,460,000 (Direct Cost: ¥4,200,000、Indirect Cost: ¥1,260,000)
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| Outline of Final Research Achievements |
In economics and finance, the analysis of financial markets has been conducted under the assumption that there is no transaction cost. However, many types of transaction costs are present in the guise of bid-ask spreads, liquidity, and commissions. Any further analysis of the case of no transaction cost would not help us give a practical policy prescription to various problems arising from the cost structure and uncertainty that are unique to financial markets. In this project, we formulated transaction costs in various mathematical models and obtained implication to the financial markets in general.
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