We experimentally study the effect of a third-person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...

Many goods have network externalities. When the number of agents possessing such goods is small, the agents may not gain sufficient utility from the goods. Agents then have an incentive to delay their purchasing decisions. Such delays have negative effects on the agents' utility, so equilibrium...

There are a lot of goods which have network externalities. While the number of players who have such a good is small, they may not get enough utility from the goods. That is, players have an incentive to delay their decision, when they purchase the goods with network externalities. Delay causes...

We proposed two types of econometric models, a spatially clustered fixed-effects model (SCFEM) and a spatially correlated random-effects model (SCREM), to examine area-based panel data. We investigate what factors influence housing construction in the Tokyo Metropolitan Area, incorporating...

Goyal and Joshi (2006, Int Econ Review) apply the notion of ``pairwise stable networks" introduced by Jackson and Wolinsky (1996, J Econ Theory) to a model of free trade network formation, and show that (i) every pairwise stable network is either complete or almost complete (with all countries...

We examine the influence of different compensation schemes on exertion of effort for differentiated tasks. The first type of task is assumed to be boring and has no intrinsic motivation, while the second is assumed to be interesting, and has a higher intrinsic motivation. The results are as...

Previous investigations on performance-related pay have mainly analyzed its relationships with earnings, productivity, and job satisfaction. Less attention has been devoted to the investigations of individuals’ preferences for the performance-related payment system per se and consequently the...

Purpose – This paper aims to conduct a hypothetical dictator game with social distance and time delays using conjoint analysis. Design/methodology/approach – Responses from 1,347 Japanese adults are collected through an online survey, and their responses are analyzed using a random parameter...

Purpose - We conduct a hypothetical dictator game with social distance and time delays using conjoint analysis. Design / methodology / approach - Responses from 1,347 Japanese adults are collected through an online survey, and their responses are analyzed using a random parameter logit model....