Welfare gain from quality and price development in the Japan’s LCD TV market

We estimate the welfare gain from innovations in the LCD TVs that prevailed during the period 2005–2007 in Japan, via consumer surplus that we measure with the aid of discrete choice methods, using market data obtained from an internet price comparison service (Kakaku.com). Further, by the measured implicit values of attributes, we evaluate in monetary terms, the qualitative transition embedded in the attributes through the iso-consumer surplus planes. We thereby disaggregate the welfare gain into the qualitative and the budgetary components, which we call the quality gain, and the budget gain, respectively. The estimates show, along with the evolved process of innovation, that the quality gain was in the order of 381 KJPY, while the budget gain was 94 KJPY negative, which gives about 287 KJPY of overall welfare gain per consumer, during the period.     

Did Japan's shopping coupon program increase spending?

In March 1999, 31 million “shopping coupons” worth 20,000 yen each were distributed to Japanese families with children and to the elderly. The coupons expired after six months and could only be used within the recipient's local community. We use variation in the number of children across families and in the number of recipients across prefectures to measure the effect of the coupons on spending. We find that coupons had a positive effect on spending on semi-durables, but no effect on spending on nondurables or services. The marginal propensity to consume on semi-durables was 0.1–0.2 when the coupons were distributed in March. The results using regional variation provide stronger evidence that spending did not fall after the coupons had been redeemed.     

The influence of indoor air on personal exposure to volatile organic compounds and its risk estimation

This paper summarizes the results of personal exposure monitoring and estimates the risk from exposure to 18 volatile organic compounds compared with health criteria set by the US Environmental Protection Agency. In study 1, personal exposure levels and outdoor air concentrations were compared, and in study 2, personal exposure levels and the corresponding indoor air concentrations were compared. From these studies, it was concluded that personal exposure to volatile organic compounds depended markedly on indoor air quality and that handling of compounds increased personal exposure markedly. Risk estimations indicated that chloroform in tap water, benzene from cigarette smoke and p -dichlorobenzene from household insecticide needed caution.     

Estimating International Interindustry Linkages: Non-survey Simulations of the Asian-Pacific Economy

This paper evaluates a recently published semi-survey international input–output table for nine East-Asian countries and the USA with four non-survey estimation alternatives. A new generalized RAS procedure is used with stepwise increasing information from both import and export statistics as optimisation constraints on the four non-survey tables. The results show that the estimated table improves when increasing information from both sources is used, despite the well known inconsistencies between import and export data in trade statistics. It is concluded that the new procedure can be useful as a critical analysis of newly published (semi-)survey international tables and/or as an early updating tool during the construction process.     

Analytical Solutions for Expected Loss and Standard Deviation of Loss with an Additional Loan

We evaluate the expected loss and the standard deviation of loss of a bank loan, considering the bank’s strategic control of the expected return on the loan. Assuming that the bank supplies an additional loan to minimize the expected loss of the total loan, we provide analytical formulations for the expected loss and the variance of loss with bivariate normal distribution functions. Using a given expected growth rate and interest rates, two thresholds for the asset/liability ratio can specify three cases. The bank supplies an additional loan to decrease the expected loss in two cases: (i) the asset/liability ratio of the firm is low, and its expected growth rate is high; and (ii) the asset/liability ratio of the firm is high, and the lending interest rate is high. The bank maintains the current loan amount when the asset/liability ratio lies between the two thresholds. Depending on the bank’s strategy, the bank can decrease the initial expected loss of the loan. Conversely, the bank would face a greater risk of the standard deviation of loss.     

Estimating the Markov-switching almost ideal demand systems: a Bayesian approach

Allias and Nichèle (Eur Rev Agric Econ, 34(4):517–538, 2007) proposed a Markov-switching almost ideal demand system (MS-AIDS) model by extending the idea of Hamilton (Econometrica, 57(2):357–384, 1989). In this paper, we propose a Bayesian estimation for MS-AIDS model and illustrate applicability of our proposed method. We then run two sets of simulation studies to confirm the validity of the proposed method. In the empirical study on the Japanese meat market, our Bayesian estimation improves the MSEs for all meat products over the ML estimation, while successfully capturing the regime shifts of meat demand coinciding with the timing of bovine spongiform encephalopathy cases in Japan and US.     

Two Types of Disagreement in Group Discussions of Japanese Undergraduates

In this study we investigated the nature of disagreement, which is a necessary component of a good discussion. We obtained 27 group discussion scenes by Japanese undergraduates that were evaluated by two ways: impression rating and ranking. As a result of factor analysis for the impression rating data, five factors were extracted: activeness, multidirection and unification of discussion, relationships of participants, development and sophistication of discussion, and sincerity of the participants, and each factor scores of each scene was simultaneously calculated. Each scene’s rank score was also calculated by relative comparisons. A significant positive correlation was found between the mean factor and the rank scores except for Factor 3 (relationships of participants). To consider the reason for the difference relating to Factor 3’s score, we scrutinized the discussion process of four scenes of the different patterns of the factor and rank scores. From the analysis of conversations, we suggested that this difference reflected ways of disagreement. By introducing a probative discourse tags for discussion (pDTD), we reasoned that the frequency of disagreement made Factor 3’s score negative and the absence of the second part of adjacency pairs made the rank score worse. The explicit speech and actions of blame such as emotional and aggressive expression, and neglect of treatment for the minor opinion made also the discussion unfair, but we think that these behaviors might erupt from the ground made by the accumulated implicit behaviors such as the absence of the second part. We finally concluded that the criticism type of disagreement increased the rank scores, and its censure type produced lower results, and the proper ways of disagreement in group discussions were discussed.     

No‐take marine reserves and illegal fishing under imperfect enforcement

No‐take marine reserves have been increasingly advocated as an effective means of supporting marine ecosystems and conserving fisheries resources. A major problem that can hinder the effectiveness of no‐take reserves is the incidence of illegal fishing, which has created significant ecological and economic losses in global fisheries. We construct a bioeconomic model to explore the connection between the effects of no‐take reserves and illegal fishing activities in relation to the level of regulatory control of illegal activities in the reserve and fished areas. Our parameterised model shows that the effects of no‐take reserves on both the extent of illegal fishing and the fish biomass critically depend on illegal fishing regulations and the scale and patterns of fish dispersal. In a fishery where illegal fishing can only be partially controlled, increasing the size of the no‐take reserve may result in a lose‐lose situation in which the level of illegal fishing effort increases and the total biomass decreases. Our results further show that when the pattern of fish dispersal is density dependent, imposing a stricter control on illegal fishing in either reserves or fished areas increases the aggregate level of illegal fishing.     

How did a network of marine protected areas impact adjacent fisheries? Evidence from Australia

Marine‐protected areas (MPAs) are an effective means of improving habitat quality and biodiversity in the world’s oceans. While the advantages of MPAs as a mechanism for conservation and biodiversity are well established, the potential improvements to fishery performance resulting from a network of MPAs are still being established. Countries around the world have committed to establishing networks of MPAs within their waters by 2020, in response to the United Nations Convention on Biological Diversity. This, coupled with the increasing global demand for seafood and heavy reliance on fishery resources as a source of economic development for many coastal communities, means that an understanding of how these networks can be expected to impact fishery performance is extremely important. We use a difference‐in‐difference modelling approach to isolate the change in the fishery performance associated with the south‐east marine reserve network in Australia. We find no evidence that the economic performance of adjacent fisheries was negatively impacted by the network. This lack of impact is likely due to a network design explicitly intended to avoid effort displacement in key fisheries, along with fishery management changes intended to remove excess fishing capacity.