The paper develops a quality adjusted professional sports franchise price index for North America based on a repeat sale method. This index reflects trends in the general price of sports franchises holding local market, facility, and team characteristics constant. The price index exhibits...

Governments world-wide increasingly rely on gambling revenues, increasing the importance of understanding who gambles and why. Previous literature used Tobit and Heckman models to statistically analyze participation in gambling. These models make strong assumptions about the nature of gambling...

We develop a quality adjusted professional sports franchise price index for North America based on the repeat sale method and a hybrid method originally applied to house prices. For the repeat sale method, the index reflects trends in the general price of franchises holding market, facility and...

Purpose – The purpose of this paper is to develop a tractable general-equilibrium model, where the market is mixed of large firms (oligopoly) and small firms (monopolistic competition). We will provide new implication of trade gain.Design/Methodology/Approach – Our discussion relies on...

Purpose – The purpose of this paper is to develop a tractable general-equilibrium model of examining the impact of human resource management on intra-industry trade. Commonly, managers of Korean firms are promoted internally. It necessitates a study of human resource management and its impact...

It often happens that a public bail-out project ends up with ineffective spending. In our opinion, most problems relating to public spending stem from moral hazard or hidden action. Depending on the incentive scheme, the problem can be either exacerbated or reduced. In this paper, we will...

A game-theoretic model can not incorporate behavioral attitudes. For more effective prediction, the model can be augmented with the reflection of irrational choices. Pitcher's problem of baseball can be a useful example to show association between strategic choice and behavioral attitude. On...

Recently, strategic protective trade policies are emerging. The strategic choices are a result of asymmetric information on demand parameters and a firm's cost structure. In this paper, we will suggest the optimal policy of eliciting private information from domestic firms. The policy is a...