This article examines the contribution to profit from research and development (R&D) using industry-level accounting panel data for eight industries in Japan from 1986 to 2012. Problematically, simple least-squares regression estimation of production functions, where the authors specify sales or...

This paper investigates the impact of e-commerce on social welfare using a linear city model. Our model incorporates the diversity of consumers such that some can purchase the good via the Internet while others cannot. Our main result is as follows. The appearance of e-commerce enhances retail...

We experimentally study the effect of a third-person enforcement on a one-shot prisoner’s dilemma game played by two persons, with whom the third person plays repeated prisoner’s dilemma games. We find that when the third person can observe these two persons’ play, the possibility of the...