This paper studies a class of infinitely repeated games with two players in which the action space of each player is an interval, and the one-shot payoff of each player is additively separable in their actions. We define an immediately reactive equilibrium (IRE) as a pure-strategy subgame...

The purpose of this paper is to present a framework to understand that the government's implementation of export subsidy is influenced by the political pressure from the home firms which can bear the costs of forming and maintaining a lobby in order to overcome a free-rider problem associated...

Our study investigates the effect of Japanese horizontal keiretsu group membership on firm risk and return. Like prior studies, our results show that horizontal keiretsu membership has a negative effect on firm profitability. However, we find that horizontal keiretsu networks are likely to...

What factors influence a state-owned enterprise in a transition economy to choose between alternative technology acquisition strategies? This study uses two frameworks developed in the context of industrialized economies -transition costs economics and organizational capacities-to propose...

The world is increasingly interconnected with each other in terms of goods, money, and labor (international migration). In view of the importance of international migration in recent years, the purpose of this paper is to analyze, somewhat rigorously, the economic impact of migration on sending...

Japan's money supply and its role in monetary policy have drawn considerable attention especially since the Bank of Japan adopted its "quantitative easing" scheme in March 2001. This paper focuses on the role of money supply as an information variable and reexamines the empirical relationship...

In this paper we conduct an exploratory investigation of how the management of R&D activities are viewed from the perspective of the subsidiary and examine how this and the relationship between the subsidiary and the parent effects the learning process of the multinational enterprise. We find...

This paper attempts to clarify how the integration of software and hardware is related to product systems and product development organization in the growing electronic equipment market in the IT age. As a framework for analyzing the effect of integration, we will examine the influence of...

We discuss stability of discrete-time Markov chains satisfying monotonicity and an order-theoretic mixing condition that can be seen as an alternative to irreducibility. A chain satisfying these conditions has at most one stationary distribution. Moreover, if there is a stationary distribution,...

We study existence and uniqueness of a fixed point for the Bellman operator in deterministic dynamic programming. We show that removing many of the assumptions of the theorem on the Bellman operator recently shown by Martins-da-Rocha and Vailakis ("Existence and Uniqueness of a Fixed Point for...