2021 Fiscal Year Research-status Report
A study on reference-dependent choice procedures with endogenously determined reference(s)
| Project/Area Number |
18K12739
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| Research Institution | Nagoya University of Commerce & Business |
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Principal Investigator |
QIN DAN 名古屋商科大学, 経営学部, 准教授 (10756092)
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| Project Period (FY) |
2018-04-01 – 2023-03-31
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| Keywords | reference alternative / bounded rationality |
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| Outline of Annual Research Achievements |
In this academic year, I have examined behavioral implications of different roles of reference alternatives. Reference alternatives can play at least four roles in determining the choice. Firstly, the reference may create an attraction towards itself. This phenomenon is often called the endowment effect. Secondly, the reference may influence the choice through the channel of loss aversion, which refers to people's tendency to emphasize more on avoiding loss than acquiring gain. Thirdly, the reference may force the DM to focus on alternatives clearly better than the reference. Fourthly, the reference may draw the DM’s attention to salient attributes of alternatives. I have examined the behavioral implications of all four categories by providing characterization conditions for each. The characterization is intuitive and parsimonious as all models can be tested by observing choices from two-elements and three-elements sets. The results has been summarized in an article which is ready to be presented and submitted. In addition, the characterization of the fourth category gives rise to new research topics.
The primary goal of the coming academic year is to present this work in conference and workshops, and to revise the manuscripts according to the feedbacks.
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| Current Status of Research Progress |
Current Status of Research Progress
3: Progress in research has been slightly delayed.
Reason
The research progress itself is rather smoothly as planned. The characterizations of all classes of choice procedures has been achieved and can now be presented in a clear fashion. In addition, the results I achieved this year also lead to new research topics.
Nevertheless, the progress of the whole project was delayed because COVID situation did not allow international travel and it was difficult to attend international conferences. To further refine my article, I decide to postponed the submission until I received comments in conferences and revise accordingly.
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| Strategy for Future Research Activity |
The primary job of the following academic year is to present results in workshop and conferences, and to revise the manuscripts according to the feedbacks. I plan to present in two international conferences and two domestic workshops. I will revise and polish the article according to comments from these conferences and workshops. I will submit the last article of this project within this fiscal year.
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| Causes of Carryover |
In the previous two fiscal years, planned conferences and workshops travels were canceled due to COVID. In turn, article submission was postponed because of delayed comments from conferences and workshops.
The major expenses in the next fiscal year are fees for conferences and workshops, language editing services, article submission fee, and open access fee.
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Research Products
(1 results)
