This paper constructs a theoretical model for analyzing the earnings distribution over time and provides an estimation procedure for the inequality of earnings over time. The theoretical model incorporates Gibrat's so-called "law of proportionate effect," Galton's "regression toward the mean,"...

The first purpose of this paper is to design a model of governance structure, called the contingent governance, which can control the free-riding problem in teams in the second-best manner. The second is to show, by a new method of comparative static analysis, that the effectiveness of the...