This paper examines the agglomeration effects of multinational firms on the location decisions of first-time Japanese manufacturing investors in China for the period 1995-2007. This is accomplished by exploiting newly constructed measures of inter-firm backward and forward linkages formed in a...

This paper provides a new non-renewable resource extraction model with both extraction and exploration technologies. We show how these technological changes affect efficient non-renewable resource extraction differently. Policy-makers therefore need to carefully choose the type of technology by...

This paper suggests a hypothesis that feelings of attachment change subjective valuation through reference point shifts. This attachment hypothesis can explain seemingly contradictory results of recent experiments concerning what are called endowment effects, in which there exists disparities of...

This paper develops three bodies of analysis. First, I examine the bilateral estimation of income yields from financial assets in 10 OECD countries. There are three kinds of assets: debt, portfolio equity, and FDI. I found that Finland, Sweden, the U.K., and the U.S. have large advantages of...

Metzler functions arise in various kinds of system optimization problems such as the stable matching of two-sided markets and the α-cores of games with punishment-dominance relations. In this paper, we discuss the shortest-path problem as an application of the theory of Metzler functions. We...

The Maschler-Owen value and the NTU Shapley value are two well-known ex- tensions of the TU Shapley value. In this paper, we compare a set of axioms that these values satisfy on the domain of games consisting of all monotonic hyperplane games and all monotonic prize games (Hart [1994]). The...

In this article, we consider a many-to-one two-sided matching market and define a canonical strategic form game, in which any worker applies to the top k firms and is assigned to the most preferred firm that does not reject him/her. Under the substitute property of firms' preferences, the game...

Although it controls monetary policies, a central bank can occasionally experience a situation where its financial situation worsens and excessive liabilities occur. In such instances, the central bank may be unable to fulfill its policy objectives. This study focuses on the People's Bank of...

This paper studies the mechanism of volunteer labor supply using panel data gathered during the period before and after the Great East Japan Earthquake and Tsunami, which occurred on March 11, 2011. The results obtained from descriptive statistics and random probit model estimates show that the...