In Mt. Fuji, self-disposal toilets installed at mountain huts by subsidy are facing difficulties in securing operation and maintenance funds. We examined whether self-disposal toilets in Mt. Fuji were installed appropriately in consideration of local conditions, the pay for these toilets was...

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The CDM plays an important role in the international GHG reduction activities. However, the distribution of CDM projects has been quite biased. Hence, considering the current distributional imbalance, this study was conducted aiming to identify the determinants of CDM project hosting in order to...

The CDM has promoted GHG reduction activities in developing countries. There is, however, a controversial issue of an unequal distribution of CDM benefits among developing nations. To date, some emerging economies have been receiving the majority of CERs while most LDCs have few of them. This...

The CDM seems to play a significant role in international GHG reduction activities. Yet, a few emerging countries have hosted majority of CDM projects whereas most LDCs have not hosted CDM projects at all. Given the current distributional imbalance, this study aims to identify determinants of...

This paper analysed Japan’s top three mega bank groups’ activities towards a low carbon economy by focusing on their securities companies. The three groups, namely MUFG, SMFG and MHFG, have enormously influenced, not only in Japan’s economy, but the global economy owing to their sizes....

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...