In this paper, we build a model of strategic misleading advertising in duopolistic markets with horizontal product differentiation and advertising externality between firms. We investigate the effects of regulating misinformation on market competition, behavior of firms, and social welfare. We...

This paper examines the relationship between misinformation about product quality and quality standards, such as minimum quality standards and certication criteria, when products are vertically dierentiated in their health/safety aspects. We investigate the welfare eect of regulating...

In this paper, we examine the incentive of the home government to mislead home consumers by sending misinformation. We nd that positive misinformation on home products and negative misinformation on foreign products always increases the prot of the home rm, while when the marginal costs of home...

Marine resource depletion is a critical concern for humankind. Individual Transferable Quota (ITQ) regimes are among the most effective measures to tackle this problem. Employing an experimental approach, this study examines the rationality of fishers under an ITQ regime. In particular, this...

This paper theoretically examines whether an individual transferable quotas (ITQs) regime can achieve the long-run efficiency through the reduction of vessel numbers. Assuming the existence of two types of vessels in terms of their scales, we consider not only quota transactions but also the...

This paper examines the monitoring of illegal trade, and restrictions on the legal trade, of secondhand goods. We assume that the home (foreign) country exports (imports) secondhand goods both legally and illegally. We demonstrate that when the trade restriction is nonbinding, and part of the...

We develop a Hotelling model of horizontally and vertically differentiated brands with misleading advertising competition. We investigate the question of who benefits or loses from the misinformation created by advertising competition and related regulatory policies. We show that the quality...

Using a simple two-period model, this paper examines the effects of the acquisition of mines/resources by a final goods producer located in a resource-importing country on resource prices in both the first (the present) and second (the future) periods, profits of firms, and welfare. We find that...

We develop a model in which a `genuine' producer supplying genuine products competes with many `non-genuine' producers supplying the compatible third-party or generic products. We examine whether non-genuine products should be expelled from markets. In particular, we focus on the genuine...