This paper examines vertical relationships in which a monopolistic upstream producer supplies a product through downstream distributors to consumers who may access multiple distributors (i.e., multi-homing). Given that there are multi-homing consumers, exclusive supply of a product induces more...

We build a model for predicting civil wars where the government bargains with a rebel group using concessions and repression. The equilibrium is either a state of perpetual peace where there are concessions but no repression, or a state of repressive equilibrium that can lead to civil wars. At...

This study examines the welfare effects of patent pools with independent licensing. We argue that forcing patent pools to allow each individual patent holder to license the technology independently does not necessarily work as a screening tool to select only desirable patent pools. We consider a...

This study investigates the effects of transparency in a sequential moral hazard problem, where a leader and a follower consecutively take an action. The principal chooses whether the organization is transparent or opaque, by which we mean that the action of the leader is observable to the...

We investigate a firm's pre-emptive behavior by comparing Cournot competition and Stackelberg games with one leader and multiple followers, where each firm has access to private information on stochastic demand. We show that the firm prefers pre-emptive quantity choice (Stackelberg leader) to...