This paper examines the effect of speculative motives in agricultural land on farm size and labor productivity in Japan, by use of the prefecture- and size-level census panel data in the period from 1990 to 2005. The paper employs a discrete choice model to formulate the farm behavior in the...

This paper estimates a dynamic oligopoly model to assess the economic consequences of a horizontal merger that took place in 1970 to create the second largest global producer of steel. The paper solves a Markov perfect Nash equilibrium for the model and simulates the welfare effects of the...