This paper analyzes a model of coordination where two agents attempt to coordinate their actions through communication. One agent (Sender) is engaged in finding the true state of nature in a stochastic environment and the action that best fits the state. The other agent (Receiver) in turn tries...

This paper surveys researches on the new institutional arrangements for product innovation emerging in Silicon Valley. Special reference is made to the characteristics that go beyond the traditional property rights framework. First, the complicated patterns in allocation of control rights...

This paper analyzes the ``Silicon Valley model'' as a novel economic institution in the domain of technological product system innovation such as computers. We focus on the information structural relationship as well as governance relationships between venture capitalists and a cluster of...

This paper explains the concept of product architecture in the context of increasing complexity of artifacts. We first explore the process where artifacts have gained complexity. Historically, during the development of human-artifact interaction, it was critical to effectively combine mechanical...

The purpose of this paper is to analyze the problem of optimally partitioning a design process of a complex product, and to derive several comparative statics results by utilizing the technique developed by Topkis (1998). By partitioning the product design and assigning each sub-design to a...

In today's science-driven industries, such as the semiconductor industry, firms are increasingly engaged in across-firm research and development projects in the form of a research consortium or a strategic alliance. Those collaboration processes, however, have complex aspects due to the...

This paper explains the concept of product architecture in the context of increasing complexity of artifacts. We first explore the process where artifacts have gained complexity. Historically, during the development of human-artifact interaction, it was critical to effectively combine mechanical...

Theoretical research on leniency programs has thus far focused on cartels formed within a country. The purpose of this paper, in contrast, is to analyze the situation where a cartel is formed internationally. We consider a model with two oligopolistic firms operating in two countries. The...

We explore experimentally whether the free-rider problem occurs in corporate takeovers. While Grossman and Hart's (1980) classical proposition states that due to the free-rider problem takeovers never succeed, we observe a considerable number of successful takeovers in real capital markets. To...