We consider an oligopoly with a principal-agent relationship, in which a firm's marginal cost is decreasing in a manager's managerial effort and is subject to an additive uncertainty. Two types of firms operate: one displays symmetric information between the owner and the manager, another...

By constructing a static model of a recyclable product market where the product can be manufactured by using both a recycled material and a harvested natural resource, we examine how different types of economic policy instruments affect resource harvesting activities of individual producers. In...

The purpose of this paper is to explore thoroughly the effects of the change in factor supplies on outputs with commodity prices held constant and to disentangle the intricate involvement between the roles of the factor intensities and factor substitution played in determining such Rybczynski...

This paper provides a simple model that examines a firmfs incentive to invest in a network infrastructure through coalition formation in an open access environment with a deregulated retail market. A regulator faces a dilemma between inducing an incentive for efficient investment and reducing...

We investigate a desirable role of public enterprise in mixed oligopoly in free-entry markets. We compare the following three cases: (i) a public firm produces before private firms (public leadership), (ii) all firms produce simultaneously (Cournot), (iii) a public firm produces after private...

Employing an environmentally-differentiated products model with heterogeneous consumers in terms of environmental consciousness, this paper examines the effect of a unilateral change in a home emission standard on the qualities of products, aggregate emissions, and welfare of both home and...

Employing an experimental approach, this paper examines whether the efficiency of fishery management can be achieved under Individual Transferable Quotas (ITQs) regimes, when fishers can choose vessel sizes. In addition to the most common types of experiments for trading permits, we analyze the...

This paper examines the effects of industrial concentration on employee compensation including fringe benefits, using data of Japanese manufacturing industry. The primary findings are; (1) concentration has a positive and significant effect on direct wages and on total compensation, but is not...

The recent efforts of leading industrialized countries to reduce barriers on international transactions have been biased to trade in goods and capital and against labor migration. This paper examines the rationality of such an asymmetry in the liberalization policies by making a welfare...

This paper discusses the timing and the optimal trade policy in the presence of oligopolisitic industries and free entry. Collie (1994) proved that an importing government should not commit a countervailing duty in response to a foreign export subsidy. We show that his main conclusion does not...