This paper reviews Stated Choice Method (SCM), paying particular attentions on its theoretical background, application, empirical models, experimental design, and procedure to execute. The review suggests that comparing to other stated preference (SP) methods, SCM has a major advantage that it...

We consider the problem of allocating several units of an indivisible object among the agents with single-peaked and risk-averse utility functions. We introduce equal probability for the best, and show that the randomized uniform rule is the only randomized rule satisfying strategy-proofness,...

A mutual link between poverty and environmental degradation is examined in an overlapping generations model with environmental externality, human capital, and credit constraints. Environmental quality affects labor productivity and thus wealth dynamics, whereas wealth distribution determines the...

In this paper, we investigate the asymmetry of adjustment costs for labour. Using monthly data on Japanese industries, we estimate a model of dynamic labour demand that incorporates adjustment costs for hiring and firing workers, and for changing working hours. Our estimates suggest the...

Human tasks are often multidimensional. Holmstrom and Milgrom (1991) concluded that ghigh-poweredh incentives cannot work unless all dimensions of these tasks are observable in the firm. However, as this study shows, if the firm can observe the price vector of its products in the market,...

This paper introduces probability which represents symmetry transaction pattern into Roll [1984] and shows that the second autocorrelation for stockfs return is not necessarily zero. Glosten/Harris [1988] considers trader who symmetrically trades as information trader. Then I examine the...

The goal of this paper is the examination of the conditions on preferences to guarantee the monotonicity of asset prices, when their returns change in the sense of first- and second-order stochastic dominances.

We examine how an introduction of education subsidies affects growth rates, incorporating an uncertain lifetime. We demonstrate that the introduction of subsidies engenders higher growth rates in aging economies, except when the education-tax rate is sufficiently low.

In this paper, a Grossman-Helpman-Romer-type endogenous growth model is developed with two regions in which there are mobile workers and linkage between consumption goods and differentiated intermediate goods. The economy has the potential to reach the following spatial configuration: full...

This paper constructs a two-region endogenous growth model with productive government expenditure to analyze the relationship between regional redistribution of public input and the welfare of residents in each region. This paper shows that the redistribution policy may be Pareto improving if...