This paper establishes a B-core existence result for normal form TU games.

The purpose of the paper is to investigate how side track (or collusion) among agents affects the principal's welfare in a hidden action model. We assume that the agent's actions are mutually observable but not contradictable among them and hence direct coordination of actions via side...

This article has extended the Coase theorem to our environment of incomplete information. We have suggested the existence of efficient trading mechanisms in two alternative information structures.

In this paper, the author first briefly discuss the structure of Japan's public pension system, the history of that system, the raison d'etre of a public pension sustem, some of the defects in the current system, the origins of those defects, possible ways of alleviating those defects, future...

Using a simple downstream duopoly model with vertical relations and downstream R&D, we investigate the effect of non-assertion of patents (NAP) provisions. A monopoly upstream firm decides whether to employ NAP provisions. If it does so, it freely incorporates the R&D outcomes into its inputs....

The purpose of the paper is to provide a simple model explaining buyer-supplier relationships and show what factors determine the number of trading partners. We show that when the supplier is able to determine the number of trading partners, the optimal number is small if the supplier's...

We examine how vertical separation affects the lobbying activities forthe access charge of essential facilities. First, when investigating a model where the number of new entrants is fixed, we find that vertical separation either increases or decreases the access charge, and that this depends on...