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Taizo Motonishi
''The Effects of the Great East Japan Earthquake on Investors' Risk and Time Preferences''
( 2017, Vol. 37 No.3 )
This paper investigates the effects of the Great East Japan Earthquake on Japanese investors' risk and time preferences using surveys that collected data one month before and two months after the earthquake. Although there is some evidence to suggest that investors' risk and time preferences changed after the earthquake, the changes are not uniform across different types of financial opportunities. It is difficult to explain the post-quake stagnant stock prices in Japan in terms of these changes in investors' preferences.
Keywords: Risk preference, time preference, natural disaster, earthquake, preference stability, investor, Japan
D1 - Household Behavior: General
Manuscript Received : Jul 28 2017 Manuscript Accepted : Aug 31 2017

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