Yoichiro Fujii’s Home Page

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Name

Yoichiro Fujii

Office Address

1-1 Kanda-Surugadai, Chiyoda-ku, Tokyo 101-8301 

TEL : +81-3-3296-4545 (operator)

fujii(at)meiji.ac.jp (at) should be replaced with @

Affiliation and Position

Meiji University, School of Commerce

Professor
(April 2024-March 2026: visiting professor,  Erasmus University Rotterdam, Erasmus School of Health Policy & Management)

Education

2010 Ph.D in Economics, University of Tsukuba

2002 M.A. in Economics, University of Tsukuba

2000 B.A. in Management Science, Tokyo University of Science

Professional Experiences

2024- : Visiting Professor, Erasmus School of Health Policy & Management, Erasmus University Rotterdam

2024- : Professor, School of Commerce, Meiji University

2019- 2024: Associate Professor, School of Commerce, Meiji University

2014-2019: Associate Professor, Faculty of Economics, Osaka Sangyo University

2016: Visiting Scholar, Faculty of Econometrics, Erasmus University Rotterdam, The Netherlands 

2012-2014: Assistant Professor, Faculty of Economics, Osaka Sangyo University

2011-2012 Research Fellow, Faculty of Engineering, Information, and Systems, University of Tsukuba

2010-2011 Postdoctral Fellow, Graduate School of Systems and Information Engineering, University of Tsukuba

Research Fields

Decision making under Uncertainty

(Financial Economics, Insurance Economics, Health Economics)

Experimental Economics

Economic Education

Research Papers (only Written in English)

1. Fujii, Y., Murakami, H., Nakamura, Y., and Takemura, K. (2023) Multiattribute Regret: Theory and Experimental Study. Theory and Decision, Vol.95 pp.623-662. Published online: June 16, 2023.
   https://doi.org/10.1007/s11238-023-09936-w  (NEW!)

2. Fujii, Y. and Osaki, Y. (2022) Effect of Regret Sensitivity on Self-insurance and Self-protection. Applied Economics, Vol.55  pp.5202-5212. Published online: December 2022
   https://doi.org/10.1080/00036846.2022.2138816 

3. Fujii, Y. and Inakura, N. (2022) Do Individuals have Consistent Risk Preferences across Domains?: Evidence from the Japanese Insurance Market. Journal of Applied Economics, Vol.25 (1) pp.604-620.  Published online: April 2022 
   https://doi.org/10.1080/15140326.2022.2045468

4. Fujii, Y., Okura, M., and Osaki, Y. (2021) Is Insurance Normal or Inferior? -A Regret Theoretical Approach-. The North American Journal of Economics and Finance,Vol.58, 101559.
   https://doi.org/10.1016/j.najef.2021.101559

5. Fujii, Y. and Nakamura, Y. (2021) Regret-sensitive Equity Premium. International Review of Economics and Finance, Vol.76, pp.302-307. Published online: July 2021. 

6. Fujii, Y., Ogaku, M., Okura, M., and Osaki, Y. (2020) How Do Optimistic Individuals Affect Insurance Advertisements?. Asia-Pacific Journal of Risk and Insurance, Accepted. 

7. Fujii, Y. and Inakura, N. (2019) Factors Widening the Gap between Hypothetical and Actual Choices -Empirical Evidence from the Japanese Medical Insurance Market-. Asia-Pacific Journal of Risk and Insurance, 20180026, eISSN 2153-3792. 

8. Fujii, Y. and Osaki, Y. (2019) The Willingness to Pay for Health Improvement under Comorbidity Ambiguity. Journal of Health Economics, vol. 66 pp. 91-100. Published online May 2019 

9. Fujii, Y. and Osaki, Y. (2018) Regret-sensitive Treatment Decisions. Health Economics Review 8:14 

10. Fujii, Y., Iwaki, H., and Osaki, Y. (2017)An Economic Premium Principle under the Dual Theory of the Smooth Ambiguity Model. Astin Bulletin, vol. 47 pp. 787-801.

11. Fujii, Y., Okura, M., and Osaki, Y. (2016) Regret, Rejoicing, and Mixed Insurance, Economic Modelling 58, 126-132.

12. Fujii, Y., Hattori, Y., Ishikawa, R., and Tsuruzono, H. (2015) Heterogeneous Information in Experimental Asset Markets. Osaka Sangyo University Journal of Economics 16(1-2), 23-35.

13. Fujii, Y. and Ishikawa, R. (2013) Revision of Beliefs with Perceived Experiences, Annual Research Bulletin of Osaka Sangyo University, no.5, 45-70.

14. Fujii, Y. and Nakamura, Y. (2011) The Equity Premium and Market Crises in a Static Tree Economy. Department of Social Systems and Management Discussion Paper Series, University of Tsukuba, no.1283.

15. Fujii, Y. and Nakamura, Y. (2010) Equity Premium under Multiple Background Risks, Economics Bulletin, vol.30, no.2, pp.933-939.

Research Papers in Progress

• Inferior and superior goods in an insurance market under regert. (with Mahito Okura and Yusuke Osaki) 

• The effect of regret aversion on self-insurance and self-protection. (with Yusuke Osaki)

• Regret-sensitive equity premium (with Yutaka Nakamura)

• The Equity Premium and Market Crises in a Static Tree Economy (with Yutaka Nakamura)

• Multiattribute Regret Theory

• Are Individuals Consistent in their Risk Preferences across Multiple Domains?: Evidence from the Japanese Insurance Market (with Noriko Inakura)

Presentations (only International Conference)

• 1. Fujii, Y. and Inakura, N. (2023) How COVID-19 affects Insurance Demand?: Multiattribute Utility and Sign of Cross-derivative. Tinbergen Institute, Rotterdam, Netherlands. 

  2. Fujii, Y. and Hashidate, Y. (2023) Market Participation, Ambiguity Aversion, and Information Structures. 2023 ARIA Annual Conference, Washington DC, USA. 

  3. Fujii, Y., Niu, B., Azegami, H. and Asai, Y. (2023) Challenges in Aging Society with Low Birthrates: Long-Term Care, Pension, and Financial Literacy. 27th APRIA 2023 Annual Conference, Osaka, Japan.  

  4. Fujii, Y. and Hashidate, Y. (2023) Market Participation, Ambiguity Aversion, and Information Structures. 27th APRIA 2023 Annual Conference, Osaka, Japan.  

  5. Fujii, Y. and Inakura, N. (2023) How COVID-19 affects Insurance Demand?: Multiattribute Utility and Sign of Cross-derivative. 27th APRIA 2023 Annual Conference, Osaka, Japan.  

  6. Fujii, Y. and Okura, M. (2023) An Effectiveness of State-dependent Interest Rate for Savings and Health Prevention Effort against Longevity Risk. 27th APRIA 2023 Annual Conference, Osaka, Japan.  

  7. Fujii, Y. and Nishizawa, S. (2022) Cream Skimming and Technological Innovations in Insurance Market. APRIA2022 Annual Conference, Online. 

  8. Fujii, Y., Ohtani, G., Osaki, Y., Shirakawa, R., and Saito, R. (2022) Is the Veil of Ignorance only a Concept about Risk in Loss Contexts? APRIA2022 Annual Conference, Online. 

  9. Fujii, Y., Murakami, H., Nakamura, Y., and Takemura, K. (2022) Multiattribute Regret: Theory and Experimental Study. FUR2022, Ghent, Belgium. 

  10. Fujii, Y., Okura, M., and Osaki, Y. (2021) Ambiguous Prizes in Contests. 48th EGRIE seminar, Online. 

  11. Fujii, Y., Murakami, H., Nakamura, Y., and Takemura, K. (2021) Multiattribute Regret: Theory and Experimental Study. SPUDM2021.

  12. Fujii, Y., Okura, M., and Osaki, Y. (2021) Ambiguous Prizes in Contests. APRIA2021 Annual Conference, Online.

  13. Fujii, Y., Okura, M. and Osaki, Y. (2020) The Demand for Index Insurance under Regret Sensitivity. World Risk and Insurance Economics Congress, Online. 

  14. Fujii, Y. and Osaki, Y. (2020) Insurance demand in the presence of state dependent background uncertainty. World Risk and Insurance Economics Congress, Online.   

  15. Fujii, Y. and Osaki, Y. (2020) Optimal demand for index insurance under basis ambiguity. World Risk and Insurance Economics Congress, Online. 

  16. Fujii, Y., Ogaku, M. (2019) Insurance Demand Anomalies: An Interpretation Rank Dependent Expected Utility Theory, 46th Annual Seminar of European Group of Risk & Insurance, Rome, Italy. 

  17. Fujii, Y., Ogaku, M. (2019) Insurance Demand Anomalies: An Interpretation Rank Dependent Expected Utility Theory, 23rd International Congress on Insurance: Mathematics and Economics, Munich, Germany. 

  18. Fujii, Y., Ogaku, M., Okura, M., and Osaki, Y. (2019) How Do Optimistic Individuals Affect Advertisement of Insurance Firm? 23rd Asia-Pacific Risk and Insurance Association 2019 Annual Conference, Korea. 

  19. Fujii, Y., Okura, M., and Osaki, Y. (2018) Intertemporal Prevention and Saving: Promotion for Self-reliance. 22nd Asia-Pacific Risk and Insurance Association 2018 Annual Conference, Singapore. 

  20. Fujii, Y. and Inakura, N. (2018) Financial Literacy and Risk Preference: Empirical Evidence from the Japanese Life Insurance Market. 22nd Asia-Pacific Risk and Insurance Association 2018 Annual Conference, Singapore. 

  21. Fujii, Y. and Osaki, Y. (2018) The Willingness to Pay for Health Improvements under Comorbidity Ambiguity. Foundation of Utility and Risk 2018 Conference, York, UK. 

  22. Fujii, Y., Okura, M., and Osaki Y. (2016) Is Insurance a Normal Good? A Regret Theoretical Approach, The 20th Annual Conference of the Asia-Pacific Risk and Insurance Association, Jin Jiang Hotel (China).

  23. Fujii, Y. and Osaki, Y. (2017) The Willingness to Pay for Health Improvements under Comorbidity Ambiguity. European Group of Risk and Insurance Congress 44th seminar, London, UK.

  24. Fujii, Y., Okura, M., and Osaki, Y. (2017) Mixed Insurance as an optimal policy under Rejoicing Sensitivity. 21st Asia-Pacific Risk an Insurance Association 2017 Annual Conference, Poznan, Poland. 

  25. Fujii, Y. and Inakura, N. (2017) Are Individuals Consistent in their Risk Preferences across Multiple Domains?: Evidence from the Japanese Insurance Market. 21st Asia-Pacific Risk an Insurance Association 2017 Annual Conference, Poznan, Poland.

  26. Fujii, Y., Iwaki, H., and Osaki, Y. (2016) Regret Sensitive Treatment Decisions. Foundation Utility and Risk 2016 Conference, Warwick, UK.

  27. Fujii, Y., Iwaki, H., and Osaki, Y. (2015) An Equilibrium Asset Pricing Model under Ambiguity. World Risk and Insurance Economics Congress, Munich, Germany.

  28. Fujii, Y., Okura, M., and Osaki, Y. (2015) Regret Rejoicing Effects on Mixed Insurance. World Risk and Insurance Economics Congress, Munich, Germany.

  29. Fujii, Y., Iwaki, H., and Osaki, Y. (2014) An Economic Premium Principle under the Smooth Ambiguity Aversion. European Group of Risk and Insurance Economists The41th Seminar, St. Gallen, Switzerland.

  30. Fujii, Y., Ishikawa, R., and Tsuruzono, H. (2014) Experimental Asset Market under Asymmetric Information. 14th Society for the Advancement of Economic Theory, Tokyo Japan.

  31. Fujii, Y. and Nakamura, Y. (2013) Regret Choice and Equity Premium. Industrial Engineering Theory, Applications and Practice, Pusan, Korea.

  32. Fujii, Y., Iwaki, H., and Osaki, Y. (2013) An Economics Premium Principle under the Smooth Ambiguity Aversion. 13th Finance, Risk and Accounting Perspectives Conference, Cambridge, UK.

  33. Fujii, Y. and Osaki, Y. (2013) The Effect of Regret Aversion on Self-insurance and Self-protection. 17th Asia Pacific Risk and Insurance Association, New York, USA.

  34. Fujii, Y. (2012) Tree Economy under Myopic Forecasting, KOSEN Workshop Mathematics, Technology and Education 2012, Ibaraki, Japan.

Lecture in 2021

Spring

Seminar 

Seminar

Seminar

Non-life Insurance A

Fall

Seminar

Seminar

Seminar

Non-life Insurance B