Behavioral Interactions, Markets, and Economic Dynamics

Part I Intergenerational Interactions.- 1 An equilibrium model of child maltreatment (Akabayashi).-2 Tough Love and Intergenerational Altruism (Bhatt, Ogaki).- Part II Behavioral Macroeconomics.-3 Consumer interdependence via reference groups (Hayakawa, Venieris, Yiannis).- 4 Bounded rationality, social and cultural norms, and interdependence via reference groups (Hayakawa) .- 5 Keeping one step ahead of the Joneses: Status, the distribution of wealth, and long run growth (Futagami, Shibata, Akihisa).- 6 Macroeconomic implications of conspicuous consumption: A Sombartian dynamic model (Yamada).- 7 On Persistent Demand Shortages: A behavioural Approach (Ono, Ishida).-Part III Time Preference in Macroeconomics.- 8 Rate of Time Preference, Intertemporal Elasticity of Substitution, and Level of Wealth (Ogaki, Atkeson).- 9Economic development and time preference schedule: The Case of Japan and East Asian NICs(Ogawa).- 10 Luxury and Wealth (Ikeda, Shinsuke).- 11 On decreasing marginal impatience (Hirose, Ikeda).- Part IV Bubbles and Crash.- 12 Why Did the Nikkei Crash? Expanding the Scope of Expectation Data Collection (Shiller, Kon-Ya, Tsutsui).- 13 Price Bubbles Sans Dividend Anchors: Evidence from Laboratory Stock Markets (Hirota, Sunder, Shyam).- Part V Experimental Markets.- 14 Revenue Non-Equivalence between the English and the Second-Price Auctions: Experimental Evidence (Soo Hong, Nishimura).- 15 An experimental test of a committee search model(Hizen, Kawata, Sasaki).- 16 Equilibrium refinement vs. level-k analysis: An experimental study of cheap-talk games with private information (Kawagoe, Takizawa).-Part VI Behavioral Contract Theory.- 17 Moral Hazard and Other-Regarding Preferences(Itoh).- 18 Contracting with self-esteem concerns(Ishida).- 19 Optimal Promotion Policies with the Looking-Glass Effect(Ishida).-Part VII Market Efficiency and Anomalies.- 20 Is No News Good News? The Streaming News Effect on Investor Behavior Surrounding Analyst Stock

Editors

Shinsuke Ikeda is a professor at the Institute of Social and Economic Research (ISER), Osaka University and serves as the director of the Research Centre of Behavioral Economics in ISER. He got a B.Com. of Kobe University in 1980 and a Ph.D. (Doctor) of Osaka University (economics) in 1997. He was the former president of the Association of Behavioral Economics and Finance. He published articles on behavioral economics, macroeconomic dynamics and asset pricing in Journal of Finance, Journal of Health Economics, Journal of International Economics, Journal of Monetary Economics, International Economic Review, etc. His work on behavioral economics is incorporated into the book Economics of Self-Destructive Choices, Springer, to appear in 2015.

Hideaki Kiyoshi Kato is a professor of finance at Graduate School of Economics, Nagoya University, Nagoya, Japan. Before joining Nagoya University, he taught at Kobe University. He received his Ph.D. degree from the University of Utah in 1985. He has published several books and more than 30 articles in the leading finance journals such as Review of Financial Studies, Management Science, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, International Review of Finance, Japan and the World Economy, Pacific Basin Finance Journal, Journal of Portfolio Management, Journal of Financial Research, Journal of Banking and Finance, and Journal of Futures Markets on subjects including the market efficiency and anomalies, stock options, investor behavior, dividend policy, equity offerings, and stock index futures. He is currently an associate editor of Pacific Basin Finance Journal and International Review of Finance.

Fumio Ohtake is Osaka University distinguished professor and a professor in the Institute of Social and Economic Research at Osaka University and an executive vice president of Osaka University. He earned his M.A. and a Ph.D. from