Recently, Mankiw-Winston [1986] and Suzumura-Kiyono [1987] have shown that socially excessive firm entry occurs in unregulated oligopoly. This paper extends this "excess entry" results by looking into strategic aspects of cost-reducing R&D investment that creates incentives towards socially...

The authors analyze the problem in which agents have nonpublic information and are to play an asymmetric information game. The agents may reveal some or all of their information to other agents prior to playing this game. Revelation is via exogenously specified certifiable statements. The...

We consider voluntarily separable repeated Prisoner's Dilemma in which a pair of players meet randomly and repeatedly play Prisoner's Dilemma only by mutual agreement. Fujiwara-Greve and Okuno-Fujiwara (2007) consider the case that once a partnership is dissolved there is no information flow to...

When future international agreement for global environmental control is anticipated, decisions for controlling current carbon gas emissions by improving the country's abatement capabilities are strongly affected by the likelihood of and the likely outcome of such agreements. We construct a two...