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MARDYLA Grzegorz
Department of Economics | Associate Professor |
Last Updated :2024/08/31
■Researcher basic information
J-Global ID
■Research activity information
Paper
- Yukiko Orito; Hiroshi Izawa; Grzegorz Mardyla; Makoto OkamuraACM International Conference Proceeding Series Association for Computing Machinery 127854 6 - 10 2017/03 [Refereed]
We propose a memetic algorithm to optimize a consumption loan planning in economics. The planning is defined as an optimization problem which maximizes the household's one-year utility function with individual time preferences. Our memetic algorithm consists of an estimation of distribution algorithm for a global search and a heuristic local search for a local search. In the numerical experiments, we show the optimum solution for the consumption loan planning by using the memetic algorithm. From our results, we clarify the differences between the human behavior's solution in economic experiment and the optimum solution. - Youki Kohsaka; Grzegorz Mardyla; Shinji Takenaka; Yoshiro TsutsuiJOURNAL OF BEHAVIORAL FINANCE ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD 18 (2) 189 - 201 1542-7560 2017 [Refereed]
The authors experimentally investigate the existence of the disposition effect and its relationship with diminishing sensitivity. Their approach includes 3 key characteristics: (i) an environment closely resembling actual stock markets, (ii) individual-specific reference prices, and (iii) a direct test of diminishing sensitivity as a correlate of the disposition effect. They find strong support for the existence of the disposition effect as an independent hypothesis. This is an improvement over previous studies, which tested this hypothesis only jointly with others. The authors' results also strongly point to diminishing sensitivity, of the type postulated by prospect theory, being positively associated with the disposition effect. - Time preferences and optimal consumption-loan planning: computational and experimental analysis – does impatience make it difficult?Hiroshi Izawa; Grzegorz Mardyla; Makoto Okamura; Yukiko Orito2014 Asia-Pacific Meeting of the Economic Science Association 2014/02
- Grzegorz Mardyla; 井澤裕司ゆうちょ資産研究 ゆうちょ財団ゆうちょ資産研究センター 21 87 - 118 2014
- Disposition effect and diminishing sensitivity: an analysis based on a simulated experimental stock marketYouki Kohsaka; Shinji Takenaka; Grzegorz Mardyla; Yoshiro TsutsuiOsaka University Discussion Papers in Economics and Business 13 (02) 2012/04
- Grzegorz Mardyla生駒経済論叢 近畿大学経済学会 9 (1) 97 - 116 1348-8686 2011[Abstract] In this note, we critically survey the literature on one of the most puzzling phenomena in financial markets to be discovered recently, namely the so-called disposition effect—the observation that stock market investors tend to hold on to their losing stocks for too long and sell their winning stocks too soon. While we argue its importance might be overstated to a large extent in terms of its significance for understanding individual investor behavior, we also offer some ideas that could lead to new, more robust theories capable of explaining the disposition effect. We argue there are fundamental behavioral forces behind the latter that connect with basic traits of human behavior, forces that should be the in the spotlight of research aiming to explain market phenomena with individual behavior.
- Borrowing behavior and attitudes towards risk and time – experimental approachHiroshi Izawa; Grzegorz MardylaJournal of International Finance and Economics 11 (1) 45 - 54 2011 [Refereed]
- Information and Confidence: “The Chicken Or The Egg”?Grzegorz MardylaYokohama Journal of Social Sciences 10 (2) 173 - 189 2005 [Refereed]