| Budget Amount *help |
¥5,070,000 (Direct Cost: ¥3,900,000、Indirect Cost: ¥1,170,000)
Fiscal Year 2013: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2012: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Fiscal Year 2011: ¥1,950,000 (Direct Cost: ¥1,500,000、Indirect Cost: ¥450,000)
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| Research Abstract |
I have conducted applied research on a "preference for spread", that is, a tendency that a decision maker prefers spreading good and bad consumption over time. In particular, I focus on Wakai's (2008) model of utility smoothing that captures the preference for spread, which has two distinct discount factors, one for gains and the other for losses. First, I analyze the repeated game of the Cournot duopoly, where firms' preferences follow Wakai's (2008) model of utility smoothing. I have found that to achieve a full cooperation, the discount factor used for evaluating losses plays a key role. Second, I have studied the Diamond growth model (that is, the model studying the economic growth via the overlapping generation model). I have demonstrated that in the labor-intensive economy, it is optimal for consumers whose preferences are subject to a stronger version of the preference for spread to invest into technology so as to achieve a constant consumption over a whole horizon.
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