Suchergebnisse

AbstractThe auction literature indicates that uncertainty about the value of auctioned goods increases underpricing in discriminatory price auctions. Such uncertainty has a smaller effect on uniform price auctions because the pricing rule aggregates bidders' information. We find that uncertainty resulting from inexperience with an auction mechanism has similar effects. Using initial public offering (IPO) data from Japan and Israel, we find that average underpricing increases temporarily in Japan's discriminatory price auctions after changes in the auction rules, which suggests that bidders reduce their bids in response to uncertainty. Underpricing in Israel's uniform price auctions is not affected by rule changes.

"This book collects important contributions in behavioral economics and related topics, mainly by Japanese researchers, to provide new perspectives for the future development of economics and behavioral economics. The volume focuses especially on economic studies that examine interactions of multiple agents and/or market phenomena by using behavioral economics models. Reflecting the diverse fields of the editors, the book captures broad influences of behavioral economics on various topics in economics. Those subjects include parental altruism, economic growth and development, the relative and permanent income hypotheses, wealth distribution, asset price bubbles, auctions, search, contracts, personnel management and market efficiency and anomalies in financial markets. The chapter authors have added newly written addenda to the original articles in which they address their own subsequent works, supplementary analyses, detailed information on the underlying data and/or recent literature surveys. This will help readers to further understand recent developments in behavioral economics and related research"--Back cover

REMAP-CAP, a randomized, embedded, multifactorial adaptive platform trial for community-acquired pneumonia, is an international clinical trial that is rapidly expanding its scope and scale in response to the COVID-19 pandemic. Japan is now joining REMAP-CAP with endorsement from Japanese academic societies. Commitment to REMAP-CAP can significantly contribute to population health through timely identification of optimal COVID-19 therapeutics. Additionally, it will promote the establishment of a national and global network of clinical trials to tackle future pandemics of emerging and re-emerging infectious diseases, in collaboration with multiple stakeholders, including front-line healthcare workers, governmental agencies, regulatory authorities, and academic societies.