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Estimation of Utility Function Based on Questionnaire Survey

基于问卷调查的效用函数估计

基本信息

批准号：
13303007
负责人：
TSUTSUI Yoshiro
金额：
$ 32.45万
依托单位：
Osaka University
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (A)
财政年份：
2001
资助国家：
日本
起止时间：
2001 至 2004
项目状态：
已结题

来源：
https://kaken.nii.ac.jp/grant/KAKENHI-PROJECT-13303007/
关键词：
preference parameter time discount rate risk aversion happiness time horizon questionnaire survey economic experiment loss aversion 時間選好率習慣形成消費の外部性効用関数外部性実験経済学

项目摘要

Our project aims to estimate preference parameters. In the first year, we discussed the outline of the project, such as appropriate method for questionnaire surveys and economic experiments. Since 2002, we have built up a panel data based on questionnaire surveys. In 2003, we conducted experiments to estimate risk aversion and time preference at Osaka, Ritsumeikan and Waseda University, and at the same time conducted questionnaire surveys on the subjects. This enabled us to analyze the connection between their risk aversion and time preference, and their attributes, as well as to compare experiment and survey results. An experiment on students in the commerce department of Waseda University reveals that they are risk averse. In 2004, to find out if this risk averse attitude is due to their knowledge on finance theory, we conducted an additional experiment on students from other departments. This experiment was also held at Fudan University in Shanghai for cross national study and to check the importance of monetary incentive on an economic experiment. Loss-and-Gain experiments to check the Kahneman's theory of loss-aversion and framing effect were also held. We wrote papers based on these results. Regarding time preference experiments, we discovered hyperbolic discounting. As for risk aversion experiments, we indicated that people tend to be risk loving in low win probability in the lottery and become risk averse in higher probability. By combining the results of two experiments, we found a negative correlation between time discounting and risk aversion. In analysis of happiness, we found that the higher degree of time preference and risk aversion people have, the less happier they are. These research results are presented in conferences and on our website.

我们的项目旨在估计偏好参数。在第一年，我们讨论了项目的大纲，如适合进行问卷调查和经济实验的方法。自2002年以来，我们在问卷调查的基础上建立了面板数据。2003年，我们在大阪、立命馆和早稻田大学进行了估计风险厌恶和时间偏好的实验，同时对受试者进行了问卷调查。这使得我们能够分析他们的风险厌恶和时间偏好之间的联系，以及他们的属性，以及比较实验和调查结果。早稻田大学商务部的一项实验表明，他们厌恶风险。2004年，为了查明这种厌恶风险的态度是否源于他们对金融理论的了解，我们对其他系的学生进行了一项额外的实验。这项实验也在上海复旦大学进行了跨国研究，以检验货币激励在经济实验中的重要性。此外，还进行了损益实验，以检验卡纳曼的损失厌恶理论和框架效应。我们根据这些结果撰写了论文。关于时间偏好实验，我们发现了双曲线贴现。在避险实验中，我们发现中奖概率较低的人倾向于冒险，而中奖概率较高的人倾向于避险。通过结合两个实验的结果，我们发现时间折扣与风险厌恶之间存在负相关关系。在对幸福感的分析中，我们发现，人们的时间偏好和风险厌恶程度越高，他们就越不幸福。这些研究成果在会议上和我们的网站上公布。