We show that when firms have incomplete information about the market demand and their costs, a (Bayesian) Cournot equilibrium in pure strategies may not exist, or be unique. In fact, we are able to construct surprisingly simple and robust examples of duopolies with these features. However, we...

This paper investigates the expectations hypothesis for the Japanese term structure of interest rates using vector error correction models with multiple structural breaks, focusing on how the breaks affect volatility, risk premium and speed of the adjustment toward the equilibrium. Using...

We establish uniform continuity of the value for zero-sum games with differential information, when the distance between changing information fields of each player is measured by the Boylan (1971) pseudo-metric. We also show that the optimal strategy correspondence is upper semi-continuous when...

In this paper we present a model of a network or an arrangement of transactions that involve a risky transfer of assets. Transactions are generated endogenously. There is a risk in asset transfers and we are concerned with the question of optimal risk management in such a network. Assets in this...

Few attempts have been made to study entrepreneurs' social networks in local communities. This study empirically explores the relationships between self-employed workers' involvement in local communities and their earnings. Examining whether their weak ties with community members and strong ties...

The descriptive theory of cooperative game with incomplete information developed to date is surveyed. The theory has the potential to provide game-theoretical foundations of economic analysis of the free societies in which organizations (coalitions) as corporations institute a non-market...

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In this thesis, we will analyze the effect of IPOs on R&D investment and argue a change in the role of VC in the pre- and post-IPO periods for Japanese firms. It can be stated that the shareholding by VC mitigates the financial constraints of firms and is positively correlated with their R&D...

We consider non-governmental copyright protection in a music market in a game theoretical framework. Music composers voluntarily form a non-governmental association to prevent illegal uses of music and to impose music fees collectively. We prove that the formation of an association increases...