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本稿においては、Poterba (1987,...

We present a formulation of the hybridized DGFEM with lifting operator for the plane elasticity problem. To validate the formulation, we establish an inequality of the Korn type by following the method of proof due to Brenner [Math. Comp., 73 (2004), 1067–1087]. Using the inequality, we can...

In a beauty contest framework, welfare can decrease with public information if the precision of private information is exogenous, whereas welfare necessarily increases with public information if the precision is endogenous with linear costs of information acquisition. The purpose of this paper...

When encountering a set of alternatives displayed in the form of a list, the decision maker usually determines a particular alternative, after which she stops checking the remaining ones, and chooses an alternative from those observed so far. We present a framework in which both decision...

Irreducible exchange economies in which consumers’ preferences are satiable and non-ordered are considered. A general existence theorem of dividend quasi-equilibrium is proved and by the theorem the existence of Walras equilibrium is proved under weak assumptions of non-satiation.

We present a classification of all stationary subgame perfect equilibria of the random proposer model for a three-person cooperative game according to the level of efficiency. The efficiency level is characterized by the number of "central" players who join all equilibrium coalitions. The...

Economic systems generate various distributions of opportunity sets for individuals to choose consumption bundles. This paper presents an axiomatic analysis on distributions of opportunity sets. We introduce several reasonable properties of distributions of opportunity sets, and characterize the...

Semiparametric estimation of a bivariate fractionally cointegrated system is considered. We propose a two-step procedure that accommodates both (asymptotically) stationary (d<1/2) and nonstationary (d>=1/2) stochastic trend and/or equilibrium error. A tapered version of the local Whittle estimator of Robinson (2008) is...</1/2)>