...

...

This paper investigates the financial structure of manufacturing companies in the Philippine by estimating their dept ratio using panel data during 1991-2003. Estimation results show ; i) the foreign companies raise money by equity capital and debt in prosperity situation, but they depend on...

This paper examines the social value of information in symmetric Bayesian games with quadratic payoff functions and normally distributed public and private signals. The main results identify necessary and sufficient conditions for welfare to increase with public or private information. Using the...

We consider a non-cooperative sequential bargaining game with incomplete information where two players negotiate for mechanisms with ex post verifiable types at the interim stage. We prove the existence of a stationary sequential equilibrium of the bargaining game where the ex post Nash...

本稿では、動学的確率的一般均衡モデルのマクロ計量経済分析における役割を、Geweke (2010)による強解釈と弱解釈および最小解釈の3分類に従って批判的に略説する。最小解釈の応用例として、Kano and Nason...

We study a new monotonicity problem in combinatorial auctions called goods revenue　monotonicity, which requires that the auctioneer earn no more revenue by dropping goods from the endowments. Although no mechanism satisfies goods revenue monotonicity together with strategy-proofness,...

In this paper, we consider a natural procedure of decision-making, called a “Grouping Choice Method”, which leads to a kind of bounded rational choices. In this procedure a decision-maker (DM) first divides the set of available alternatives　into some groups and in each group she chooses...