The EU proposal on the quantity restraint of the emissions trading in the Kyoto Protocol aims at reducing the so called hot air that would be generated by the purchase of emissions permits sold by a country whose actual emissions are much lower than the assigned amount. In this paper we show...

This article examines the choice of health care in Japan for patients suffering from the common cold.

Succeeding Dutta, Sen and Vohra (1995) and Saijo, Tatamitani and Yamato (1995), we define several conditions of natural mechanisms in production economies, and proposed two types of natural mechanisms, that is, the quantity and price-quantity types.

Because of very concrete knowledge of race and sex discrimination, a particularly important class of peer group effects arise when agents of one type want to associate with agents of another type, while agents of that other type prefer association among themselves. Competitive provision in the...

Based on a panel data set of the Japanese corporations, we investigate into the collateral role of the land assets. We estimate the Euler equation of investment decision rule by the GMM when the corporations face borrowing constraints.

This paper completely characterizes two public ownership solutions in convex production economies, known respectively as the Proportional Solution (PR), and the Equal Benefit Solution (EB), by adopting the axioms Moulin (1990a,b) discussed and introducing two other axioms, Pareto Independence...