We examine the range of anonymity that is compatible with a Paretian social welfare relation (SWR) on infinite utility streams. Three alternative coherence properties of an SWR are considered, namely, acyclicity, quasi-transitivity, and Suzumura consistency. For each case, we show that a...

This paper examines the bargaining problem between firms' owners and managers over their managerial delegation contracts in a duopolistic market with differentiated-products. Assuming that delegated managers make every managerial decision in the market, we analyze how the managers'' bargaining...

This paper examines the bargaining problem between firms' owners and managers over their managerial delegation contracts in a duopolistic market with differentiated-products. Assuming that delegated managers make every managerial decision in the market, we analyze how the managers'' bargaining...

This paper studies a class of social welfare relations (SWRs) on the set of infinite utility streams. In particular, we examine the SWRs satisfying Q-Anonymity, an impartiality axiom stronger than Finite Anonymity, as well as Strong Pareto and a certain equity axiom. First, we characterize the...

This paper studies the extensions of the infinte-horizon variants of the leximin principle and utilitarianism on the set of infinite utility streams. We especially examine those extensions which satisfy the axiom of Preference-continuity (or Consistency) and the extended anonymity axiom called...

We analyze productivity-improving mergers in mixed triopoly and explore stable market structures. We find the only stable market structure contains a merged public-private firm and one private firm with about 57% of shares owned by the public firm.

This paper examines an extended framework of Arrovian social choice theory. We consider two classes of values: consequential values and non-consequential values. Each individual has a comprehensive preference based on the two. Non-consequential values are assumed to be homogeneous among...

This paper examines the logical relationship among Maskin monotonicity, independent person-by-person monotonicity, independent weak monotonicity, strategy-proofness, and coalitional strategy-proofness in a society with infinite individuals.