This paper develops a simple search model in which sector-specific trainings are endogenously determined with or without a negotiation between a worker and an employer, and characterizes the allocation of two types of training. If a worker and an employer can negotiate over the amount of skill...

Recently, as low birth rates and the aging of society have intensified, considerable analysis is being conducted using overlapping generations models with endogenous birth rates. However, most previous studies have assumed full employment. Since it is the case that unemployment does exist in...

The life cycle/permanent income hypothesis (LCPIH) makes two postulates: people behave with rational expectations, and people do not have self-control problems. If either or both of these postulates do not apply, we cannot obtain a testable implication of the LCPIH. We use Japanese panel data...

Consideration set has been one of main research topics in marketing field for a long time. Using interview data, many studies have been conducted to investigate the nature of its content. However, only few studies tried to do so by using consumer purchase history. By modeling the process of...

In this paper, I discuss the actual conditions and determinants of the saving behavior and wealth holdings of the aged in China, with emphasis on the impact of bequest motives thereon, using micro data from the 2009 gSurvey of Living Preferences and Satisfactionh (urban households) and the 2010...

Evoked and consideration set have been one of main research topics in marketing field for a long time. Using interview data, many studies have been conducted to investigate the nature of its content. However, only few studies tried to do so by using consumer purchase history. By modeling the...

In this paper we present a dynamic general equilibrium model to investigate how different contracting modes based on formal and relational enforcements endogenously emerge and are dynamically linked with the process of economic development. Formal contracts are enforced by third party...

We develop a dynamic model in which a firm exercises an option to expand production with cash balance and costly external funds. While related papers explain their results only by numerical examples, we analytically prove the following results. In the presence of only a proportional cost of...

In this paper we present an axiomatic approach to characterize the optimal contracts, which we call gfair contracts,h in the general moral hazard model. The two main axioms we employ are incentive efficiency and no-envyness. The incentive efficiency requires that agents of organization select...

This paper develops an overlapping-generation model featuring four types of households: single female, single male, one-breadwinner couple and two-breadwinner couple. The paper considers majority voting over public pension in the presence of derived pension rights for one-breadwinner couples. In...