We investigate the relationship between the Herfindahl-Hirschman Index (HHI) and welfare. First, we discuss the model wherein m leaders and N - m followers compete. Daughety (1990) finds that under linear demand and constant marginal cost, the Stackelberg model yields larger welfare and HHI than...

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...

The present paper has attempted to examine determinants of small business(SMEs) presence in Japanese and UK manufacturing industries, using a cross-industry model. The results suggest that market structure elements have a definite influence on SMEs' share. This conclusion is consistent with the...

The paper presents the findings from a questionnaire sent to senior corporate staff members. Some major features of the R&D strategy-makings among Japanese large firms are summarized as follows: (1) Japanese large firms undertake R&D activity, relatively independently of capital market...

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...

According to Bordo and James [2008, “A long term perspective on the Euro, ” NBER Working Paper, No. 13815], history shows that multinational monetary unions have dissolved mainly under the consequences of external shocks. This paper provides a theoretical model demonstrating their point.

The purpose of this article is to demonstrate that Edgeworth’s Mathematical Psychics (1881) has been influenced by various intellectual contemporaries through the ‘Sidgwick-Barratt Controversy’. Under the influence of Barratt, Edgeworth admitted the physical methods of ethics; which is...