This study investigates how leadership affects public policies in markets where the number of firms is endogenously determined. We focus on the relationship between the relative efficiency of an incumbent firm and the optimal entry tax (entry barrier). We find that this relationship depends on...

We investigate the optimal tax and privatization policies in a mixed oligopoly in which a state-owned public firm competes against private firms in a free-entry market. First, we investigate the domestic private firm case. The optimal tax rate is strictly positive except for the full...

This paper examines a two-period moral hazard model with an inequality-averse agent. We show how the agent's past performance will help the principal to relax incentive compatibility constraints and how the existence of an inequality aversion of the agent affects a level of wage in each period...

Do people keep social distance to mitigate the infection risk of COVID-19, even without aggressive policy interventions? The Japanese government did not restrict individuals’ activities despite the early confirmation of infections, and as a result, economic damages were limited in the initial...

Do people keep social distance to mitigate the infection risk of COVID-19, even without aggressive policy interventions? The Japanese government did not restrict individuals’ activities despite the early confirmation of infections, and as a result, economic damages were limited in the initial...