The overall record of planned economic development in India over almost half a century has been very poor in terms of the major objectives of transforming the economy and eradication of mass poverty. In this paper, drawing primarily on works on the development of Japan and South Korea, we...

The paper examines the conventional wisdom that large buyers pay lower prices to suppliers than do small buyers. In the model, a supplier separately bargains with n buyers. The buyer's size is endogenous since they can merge prior to negotiations with the supplier.

Holmstrom and Milgrom's (1987) relative performance evaluation example has a simple budgeting interpretation. In an attractive manner, this example conveys some of the basic insights of Holmstrom (1982). The model investigated is a principal-manager-agent version of this example in which the...

This paper estimates the contribution of net saving for each of twelve motives to overall household saving in Japan using micro data from Japanese Government survey and finds that the net saving for the retirement and precautionary motives, both of which are consistent with the life-cycle model,...