TY - GEN
T1 - Analysis of human behavior by experimental game-theoretic approach-Cooperative behavior, risk averse and seeking tendencies, and risk diversification
AU - Murata, Atsuo
AU - Matsushita, Yasunari
AU - Kubo, Saki
AU - Moriwaka, Makoto
PY - 2014/10/23
Y1 - 2014/10/23
N2 - (1)First, repeated ultimate game was carried out using a computer simulation. As a result, we confirmed that we never behave rationally as standard economics assumes. (2)Second, on the basis of prospect theory, the risk aversion and seeking tendencies were analyzed in gambling situations. It tended that the participant behaved risk-aversively in a gain condition, and showed a risk-seeking behavior in a loss condition. (3)Third, on the basis of the loss aversion property derived from prospect theory, we discussed the endowment effect. Stronger endowment effect was observed when the affection was attached to the object than when the affection was not attached to the object at all. (4)Fourth, as a result of exploring the relationship between the diversification of risk (accepting (taking) the total risk gradually by dividing it into a few steps) and the risk assessment, we tended to underestimate the total risk when the total risk was divided into a few risk-taking behaviors than when the total risk was taken at a time.
AB - (1)First, repeated ultimate game was carried out using a computer simulation. As a result, we confirmed that we never behave rationally as standard economics assumes. (2)Second, on the basis of prospect theory, the risk aversion and seeking tendencies were analyzed in gambling situations. It tended that the participant behaved risk-aversively in a gain condition, and showed a risk-seeking behavior in a loss condition. (3)Third, on the basis of the loss aversion property derived from prospect theory, we discussed the endowment effect. Stronger endowment effect was observed when the affection was attached to the object than when the affection was not attached to the object at all. (4)Fourth, as a result of exploring the relationship between the diversification of risk (accepting (taking) the total risk gradually by dividing it into a few steps) and the risk assessment, we tended to underestimate the total risk when the total risk was divided into a few risk-taking behaviors than when the total risk was taken at a time.
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U2 - 10.1109/SICE.2014.6935236
DO - 10.1109/SICE.2014.6935236
M3 - Conference contribution
AN - SCOPUS:84911877598
T3 - Proceedings of the SICE Annual Conference
SP - 947
EP - 954
BT - Proceedings of the SICE Annual Conference
PB - Society of Instrument and Control Engineers (SICE)
T2 - 2014 53rd Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2014
Y2 - 9 September 2014 through 12 September 2014
ER -