This paper examines the long-run impacts of expanding the range of subjects in higher education admission examinations using a historical event, the reform of Japanese entrance examinations in 1979. Our results show that an increase in the number of subjects increases the probability of...

Designing efficient environmental policies requires knowledge about households' preference parameters for their intertemporal decisions. By conducting an original Internet-based survey using Japanese participants (n=2,906) and a follow-up survey (n=1,407), we examine how people evaluate...

Designing efficient environmental policies requires knowledge about households’ preference parameters for their intertemporal decisions. By conducting an original Internet-based survey using Japanese participants (n=2,906) and a follow-up survey (n=1,407), we examine how people evaluate...

Designing efficient environmental policies requires knowledge about households' preference parameters for their intertemporal decisions. By conducting an original Internet-based survey using Japanese participants (n=2,906) and a follow-up survey (n=1,407), we examine how people evaluate...

This paper examines how managers' tenures in target firms influence their probability of retention as board members after mergers or acquisitions in Japanese firms. It develops a model that distinguishes several hypotheses about the effect of tenure on separation. Our results suggest that...

We formulate the pension fund's problem of choosing optimal pension schemes in an inflnite, discrete-time setting as a sequence of Nash bargaining problems in which the members (contributors) of the fund are the bargainers and the disagreement points are determined by the utility levels they can...