We analyze a dynamic principal-agent problem in which the agent's effort in each period has strong persistent effects. We show that a simple contract, where the reward depends only on the final outcome, is explained as the optimal contract derived in the principal's optimization problem. The...

We consider a stable improvement problem in a controlled school choice model which covers those of several previous studies. First, we consider the case where the priority for each school is a weak order. We derive a sufficient condition for a stable matching to be constrained efficient. It is...

We construct a new method to describe firm distributions within technology fields and investigate the relationship between those distributions and aggregate innovation. To locate firms in a technology space, we apply multidimensional scaling for inter-firm technological dissimilarity, computed...