異時点間選択と消費・貯蓄、退職行動

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I accomplished the contents of my theoretical research plan by incorporating habit formation and parental altruism, and investigated the theoretical conclusions by using empirical analysis.In my paper "Thankworthy Parental Altruism and Children' s Habit-Formation" which is based on the joint research with Professor Ikeda, we propose a model of parental altruism in relation with child habit formation, where children are unaware of their developing habits while young, and become cognizant of them only on growing up. We show that an altruistic mother (i) maintains the amount of income transferred to her child lower than the child would desire and (ii) reduces further income transfer upon an exogenous increase in the child's performance of a particular habit. The child, when grown, may end up grateful for the small income transfer if the mother is sufficiently rich and altruistic : when evaluated by the realized habitual preferences, a small income transfer leads to greater child welfare than the greater income transfer preferred by the child would have generated. This implies that parents from richer families, ceteris paribus, tend to guard against their children's profligacy.In another joint research "Strict Parents Come From Wealthy Families : An Empirical Study", We examine and verify the hypothesis from our theoretical model that people who are aware of habit tend to strictly upbring their children if they are from wealthy family. Using the data from "Preference Parameters Study of Osaka University" in Japan, we find that there are significantly positive relations between respondents' strict upbringing practices and their living standards when 15 years old in the case that respondents are aware of habit. This empirical result is consistent with our theoretical prediction.