This paper considers welfare allocation rules when cities far from a river basin share water resources. The underlying situation is that the cities share a pipe from the water source and they are willing to distribute the welfare produced by using water. I propose two welfare allocation rule:...

The Japanese defense market is an oligopoly. Firms in the defense industry also produce civilian goods, and the revenues they obtain from defense contracts are quite small relative to the revenues coming from the production of private goods. Because the Japanese constitution prohibits arms...

Prior research on brand equity or brand value has assumed that all products are the same in their functions but different in their marketing activities of firms. However, although we can assume that products are the same in not only their functions but also their marketing activities, prior...

This study is based on my observation that high quality markets are indispensable for the healthy growth of a modern economy. Many problems surrounding markets are attributable to the lack of high quality markets. An industrial revolution creates extremely vibrant but unhealthy markets. This...

This paper sheds light on the stability of international production networks in East Asia from the perspective of the duration and survival of bilateral trade relationships at the product-line level. Using highly disaggregated data for intra-East Asian machinery trade, survival analysis is...

This paper investigates regional differences within China in the degree of participation in East Asia's production and distribution networks in machinery industries. By employing customs-based export data, large regional disparity in the pattern of machinery exports as well as a hint of...

Rings of collusive bidders at an English auction frequently distribute collusive gains among ring members via sequences of knockouts. This paper presents a model of sequences of knockouts. I investigate the relationship between the distributive outcome of each sequence and each solution of...

This paper introduces consumption externalities into an endogenous growth model of general capital accumulation and characterizes balanced growth equilibria. Contrary to the common argument in previous studies, we show that the growth rate in a feedback Nash equilibrium can be higher than that...

This paper investigates the change in the adjustment mechanism of Japan's labor market before and after the collapse of bubble economy around early 1990s. Comparison of Phillips curves among industrialized countries shows that Japan's Phillips curve has become much flatter in the 1990s. The...

This paper explores relationships among economic growth, unemployment, and business cycles by constructing a model, which views the process of creative destruction as a major source of business cycles, as well as of economic growth. The main results are as follows: first, the long-run growth...