In the 1950s and 60s, Japanese and US antitrust authorities occassionally used the degree of concentration to regulate industries. Does regulating firms based on their market shares make theoretical sense? We set up a simple duopoly model with stochastic R&D activities to evaluate market share...

This paper establishes a duopoly model, which considers consumers’ preference exhibits the horizontal differentiation and vertical differentiation simultaneously, to investigate how counterfeiting affects firms’ market power and consumer's purchasing behavior. The effects of government...

Motivated by the widespread presence both of decentralised unions and cross-participation at ownership level (for instance in Japan and US), this paper aims at investigating whether the conventional wisdom that a reduction in the degree of product differentiation (which increases competition)...

We examine strategic research and development (R&D) policy for quality-differentiated products in a third-market trade model. We extend the previous work by adding a third exporting country, so that the market structure is international triopoly. We show that the presence of the third exporting...

We test the hypothesis that trade creditors are relationship lenders using SME data from Japan. We find that the validity of the relationship lending hypothesis depends on the relative bargaining power between the buyer and sellers. Specifically, we find evidence that longer buyer–seller...