Mainstream explanations for the East Asian miracle often neglect the role of inclusive economic institutions. This study examines how an inclusive banking institution established in Taiwan under Japanese colonial rule (1895-1945) boosted the Chinese Nationalist government’s capacity to promote...

Taiwan established the Certified Public Bookkeepers Act to regulate tax agents in providing services to small and medium-sized enterprises in 2004. The Act enhances the capabilities of tax agents in competing business with auditors. Auditors face increased competition in rendering services to...

I model the environment of Internet auction sites, such as eBay, as sequential ascending auctions. New buyers may enter the auction site after some of the auctions have completed and only bid for the remaining auctions. I characterize a perfect Bayesian equilibrium in the dynamic game. Because...

The popular Internet marketplace, eBay, introduced the Best Offer format in 2005. This paper studies buyer's behavior under such a mechanism. We characterize this mechanism as a sequential-move game between the seller of an item and its buyers. Our model suggests that a rational buyer's offer...

This paper analyzes the effects of the two waves of financial reforms implemented between 2002 and 2008 in the Taiwan banking industry. The first financial reform aimed to raise capital adequacy ratio and reduced non-performing loans. The second financial reform encouraged banks to merge. We...

We study the effect of information disclosure in resolving adverse selection by estimating the demand for a specific type of T-shirt sold on the Yahoo! Auctions platform. To reduce information asymmetry in Internet transactions, sellers usually voluntarily disclose product information by...

We develop a framework that may be used to determine the degree to which a school choice program may harm public school stayers by luring the best students to other schools. This framework results in a simple formula showing that the "cream-skimming" effect is increasing in the degree of...

We develop a framework that may be used to determine the degree to which a school choice program may harm public school stayers by luring the best students to other schools. This framework results in a simple formula showing that the "cream-skimming" effect is increasing in the degree of...

I present a game-theoretical model to empirically analyze the consumption interac-tions among household members. Although multiple Nash equilibria of consumption decisions may exist in a household, model parameters are pointwise identified for households with only two members. I propose a...