In this paper, we try to introduce a realistic way of individual decision making based on the Japanese way of thinking, which may make up for the defect of today's popular decision-making methods that heavily depend on the logic of the Western way of thinking, typically shown in Arrow's...

Japan has been suffering from the Heisei depression since 1991. Instability of the world financial system caused by the abandonment of conversion monetary system was accelerated by huge issue of speculative derivatives, which the US Government fully utilised to finance deficits. Her bitter...

In the application of economic theory to actual analysis, we are often bewildered how to use theory because the framework normally supposes the existence of all cases, which is not actually realised. Here, I introduce an easy way to significantly reduce cases to examine while maintaining the...

If we look carefully at Arrow's definition of independence of irrelevant alternatives, we are often puzzled as to why he does not examine collective choice in terms of a multi-dimensional framework. There is no reason why we should not employ a multi-dimensional approach as far as the definition...

In this paper, I critically review the history of Japanese economic growth and the depression after World War 2 based on a recognition induced from Arrow's impossibility theorem such that pursuit of economic efficiency inevitably loses elasticity of society against the change of environment....

This volume, a sequel to Econometric Models of Asian Link, is a unique compilation of up-to-date macro-econometric models of Asian-Pacific countries. It provides models of Japan, the United States, Canada, China, Korea, Taiwan, Hong Kong, Thailand, the Philippines, Malaysia, Singapore,...