This paper analyzes repeated games in which it is possible for players to observe the other players' past actions without noise but it is costly. One's observation decision itself is not observable to the other players, and this private nature of monitoring activity makes it difficult to give...

This paper studies repeated games with private monitoring where players make optimal decisions with respect to costly monitoring activities, just as they do with respect to stage-game actions. We consider the case where each player can observe other players' current-period actions accurately...

This paper examines when a finitely repeated game with imperfect monitoring has a unique equilibrium outcome. This problem is nontrivial under imperfect monitoring, because uniqueness of stage game equilibrium does not guarantee such a negative result. We say an quilibrium is equilibrium...

We consider a repeated duopoly game where each firm privately chooses its investment in quality, and realized quality is a noisy indicator of the firm's investment. We focus on dynamic reputation equilibria, whereby consumers "discipline" a firm by switching to its rival in the case that the...

Depletion of water resources requires us to search for non-conventional strategies for water preservation and irrigation. Sustainable management of such water resources along with the development of sustainable irrigation systems will contribute to the stability of agricultural yield that is a...

In this paper, we propose a statistical index of industrial localization based on Kullback-Leibler divergence. This index is particularly well suited to cases where industrial data is only available at the regional level. Unlike existing regional-level indices, our index can be employed to test...

The desolate desert in Afghanistan's Kandahar and Helmand Provinces was previously populated by thousands of pastoralists until a devastating drought decimated animal herds and forced them to live as IDPs (Internally Displaced Persons) on land bordering the desert. Through funding from UNAMA...

The purpose of this paper is to decompose income inequality based on two different dimensions in nature. One is sample's personal characteristics, and the other is income sources. Empirical investigation is attempted to data in Japan. Although there are several studies which attempted...

There are several judicial cases under the US environmental law, in which a lending bank is liable for cleaning up environmentally hazardous materials generated by its borrowing firm. Such a liability rule, so-called lender liability, is applied to a lending bank which has been actively involved...

This paper focuses on the drastic increase observed in the Japanese male suicide rate in the late 1990s and early 2000s and confirms unemployment and personal bankruptcy to be the associated socioeconomic factors behind the male suicide variation. Personal bankruptcy is also confirmed to be...