We analyze the effects of various kinds of demand- and supply-side incentives in the context of a model in which patients and doctors must decide not only on an aggregate quantity of health services to use in treating various kinds of illness, but also have a choice between different kinds of...

How students should be allocated to schools to achieve educational goals is one of important debates on the construction of school systems. Promoters of comprehensive and selective school systems fail to reach a consensus on implications of each system for efficiency and equity of education....

This paper analyzes intergenerational earnings mobility in a model where human capital is produced using schooling and parental time. In steady -states more mobile societies have less inequality, but in the short-run higher mobility may result from an increase in inequality. Starting from the...

This paper studies the role of institutional investors (pension fund, insurance companies and investment companies) in the development of the financial sector and economic growth in OECD countries by employing a dynamic panel VAR. While pervious studies in this area have mainly focused on...

Most existing evidences for indeterminacy are obtained from analyzing models that do not consider trade. This paper considers an extension of Nishimura and Shimomura (Journal of Economic Theory, 2002) Heckscher-Ohlin framework by removing sector-specific externalities in one country while...

We argue that Corporate Social Responsibility (CSR) may affect the agency relationship inside a firm. We analyze how CSR and the threat of stakeholder activism influence effort of manager and shareholder, and describe how CSR may arise endogenously in this context. By engaging in CSR the...

We consider a game of endogenous timing of sequential choice of capacity and quantity with observable delay in a mixed duopoly and a private duopoly under two possible time structures. In mixed duopoly, we find that a simultaneous play at the capacity stage or at the quantity stage can never be...

We consider a monopolistic screening model of patent licensing. There is one patentee and one licensee and the patentee wishes to sell a patent of cost reducing technology to the licensee. The patentee is an outsider and the licensee is the only firm in the product market. The licensee possesses...

This paper estimates a union wage effect, using matched employer- employee data and estimation models that control an association between a worker's union status and an employer's characteristics. Failure to control this association may cause previous studies' estimates of the union wage effect...