A Pricing Strategy with Consumption Externality when the Reference Group is Large

This paper provides an analysis of firms’ optimal prices when individual utility exhibits both material and other consumer effects. We construct a model and conduct an analysis in the following four steps: (1) By using a conjoint analysis of data, we set up a hierarchical Bayesian model and estimate its parameters, which are composed of individual utility functions. (2) We calculate the number of sales in each time period and derive the total sales throughout the given period. (3) We estimate the demand functions in the presence and absence of consumption externalities. (4) Finally, we calculate the profit functions and derive the optimal prices taking into account various product attributes. By applying our analysis to the book market of Japan, we find that the optimal price is lower when an externality is present than when absent. The intuition behind this result is that pricing low and selling a large number of books from an early stage increases the externality effect, yielding a higher profit for firms.     

The Contents-Based Website Classification for the Internet Advertising Planning: An Empirical Application of the Natural Language Analysis

This study proposes a model for website classification using website content, and discusses applications for the Internet advertising (ad) strategies. Internet ad agencies have a vast amount of ad-spaces embedded in websites and have to choose which advertisements are feasible for place. Therefore, ad agencies have to know the properties and topics of each website to optimize advertising submission strategy. However, since website content is in natural languages, they have to convert these qualitative sentences into quantitative data if they want to classify websites using statistical models. To address this issue, this study applies statistical analysis to website information written in natural languages. We apply a dictionary of neologisms to decompose website sentences into words and create a data set of indicator matrices to classify the websites. From the data set, we estimate the topics of each website using latent Dirichlet allocation, which is fast and robust method for sparse matrices. Finally, we discuss how to apply the results obtained to optimize ad strategies.     

Research Note: Analysis of the Characteristics of Victims in Information Security Incident Damages: The Case of Japanese Internet Users

In this article, the authors investigate the attributes of victims in information security incident damages for the purpose of reducing the damages. The Information-Technology Promotion Agency, Japan, in 2010, conducted an Internet survey targeted to Japanese Internet home users entitled, “Survey of awareness toward information security incidents” that is used in this article. Using micro data collected from this survey, they employed multinomial logit regression analysis to show factors affecting the user’s experience of the incidents of damage through particular incidents. They concluded that the overconfidence regarding information security knowledge increased the probability for phishing and spoofing.     

Subcontracting Structure and Productivity in the Japanese Software Industry

This paper presents an empirical analysis of the factors determining the productivity of the software industry in Japan, using individual data from the Survey of the State of the Information Service Industry conducted in August 2006 by IPA (Information-Technology Promotion Agency, Japan). This paper focuses on the relationship between the subcontracting structure and productivity in the Japanese software industry. Software enterprises are classified as prime contractors, intermediate subcontractors, end-contractors, and independent enterprise. A comparison of their productivity levels reveals that intermediate subcontractors are the least productive. However, it is observed that the intermediate subcontractors possessing a high quality of human resources measured the proportion of employees passing the Information Technology Engineers Examination (ITEE), or the intermediate subcontractors adopting the IT skill standard which defines the skills for IT human resources clearly and systematically, has a high productivity level. It can raise the productivity in software industry as a whole.     

富裕阶层:中国消费增长的主要推动力

到2020年,中国富裕消费者的购买力将达到3.1万亿美元;企业需要制定新的战略来迎合这一市场。尽管经济增长放缓,但中国预计将很快成为世界第二大消费市场。     

The Substitution Effect of Mobile Games on Console Games: An Empirical Analysis of the Japanese Video Game Industry

In this paper, we discuss the substitution effects between mobile games and console games. We estimate such effects by a fixed-effect regression with instrumental variables using panel data of about 100,000 observations. The results showed that the substitution effects of playing smart devices on 3DS, Wii, and PSP were recognizable, but did not have significant effects on PS3, and the substitution effects on PSP were very small. Therefore, mobile games had a substitution effect on casual console games, or on console games in which the play situation resembled mobile games. In addition, the substitution effects were at most about 0.1. The substitution effects were small. Our results indicate that mobile games represent the pioneers in the new market of gaming at least during our observation period. But new games and traditional games will coexist for a while.     

Technological Progress and the Wage Growth of Older Japanese Workers

Declining birth and mortality rates are leading to population aging throughout the OECD countries. This paper examines one possible consequence for national productivity – we ask: Are older workers able to take advantage of new technologies as effectively as their younger counterparts? Using Japanese data for 1973-2000, we find that if we ignore job tenure, workers beyond the age of 50 do not seem as able to benefit from total factor productivity growth as their younger colleagues. However, Japanese workers past age 50 move to lesser paying positions more frequently than is common elsewhere, and we believe that the complete answer to our question depends upon whether an inability to keep up with new technologies induces late-in-career job changes or whether the changes follow, in practice, from other factors.     

Globalization of Information Services and the Industrial Structure of the Japanese Economy

Since the late 1990s, ICT has rebuilt organizational networks by connecting value chains and providing communication networks. This made certain types of services tradable, including information services. This change raised the public concern in terms of the effect on employment and innovation capacity in developed economies. The fragmentation of the production network of information services has been led by US firms, but is spreading to East Asia, typically in outsourcing from Japan to China, India and the ASEAN countries. This study empirically assesses the effect of offshore outsourcing on employment in Japan, specifying trading partners. The results show that information services outsourcing affects employment in the manufacturing sector in Japan, but the effect is different depending on trading partners. This study discusses the implications from the viewpoint of industry policy, relating the results to outsourced business processes.     

Investment Literacy and Individual Investor Biases: Survey Evidence in the Japanese Stock Market

In this paper, we analyzed the results of our survey on Japanese stock investor’s asset risk management and empirically examined the effect of their investment literacy on their decision-making biases. This paper revealed that the higher the investors’ investment literacy, the lower their overconfidence bias. This suggests that high investment literacy can prevent investors from being influenced by an overconfidence bias and consequently making biased decisions in investment. Therefore, efforts to improve investors’ investment literacy by enhancing social systems such as investment education could be beneficial in guiding investors to make unbiased investment decisions.     

科技园区开出“生态”之花——访北京经开投资开发股份有限公司总裁周世义

"北京经开历来倡导自然、和谐的产业生态。这种产业生态的形成不是人为干预的结果,而是企业根据自身发展需要自然聚集的结果。"     

The Effect of Changes in Nuptiality Behavior after the 1980s on the Poverty Rate for the Elderly in Japan -Analysis Using a Dynamic Microsimulation Model-

The social security system in Japan was developed under the premise that postwar families represented the most common type of family. A “postwar famil” refers to a family in which: (1) men and women are married; (2) husbands work as regular employees and wives are dependent homemakers; and (3) husbands and wives seldom get divorced. Therefore, the social security system is particularly generous towards dependent wives and widows. However, these premises are no longer valid because Japanese nuptiality behavior has completely changed since the 1980s. Marriage rates have decreased and divorce rates have significantly increased. Nevertheless, society still suffers from a wage inequality between men and women. As a result, the number of never-married or divorced elderly women will increase, and these women might face a serious poverty risk in the future. In this study, the author makes simulations of the living arrangements and poverty rates for the elderly in Japan and evaluates the effect of changes in nuptiality behavior on these poverty rates using a dynamic microsimulation model. The simulation results indicate that changes in nuptiality behavior will affect the poverty rate for elderly women, but not for elderly men.     

霍夫曼：硅谷趋势的早期预警系统

如果创业者希望就新技术进行头脑风暴,或者咨询如何创建企业,甚至是如何筹集上亿美元资金,那么雷德·霍夫曼（Reid Hoffman）是必须要见的人。即使他不能提供帮助,他也知道其他能提供帮助的人。霍夫曼的人脉非常广泛。     

A Statistical Analysis Between Consumer Behavior and a Social Network Service: A Case Study of Used-Car Demand Following the Great East Japan Earthquake and Tsunami of 2011

When a large-scale disaster hits a community, especially a water-related disaster, there is a scarcity of automobiles and a sudden increase in the demand for used cars in the damaged areas. This paper conducts a case study of a recent massive natural disaster, the Great East Japan Earthquake and Tsunami of 2011 to understand those car scarcities and demand in the aftermath of the catastrophe. We analyze the reasons for the increase in demand for used cars and how social media can predict people’s demand for used automobiles. In other words, this paper explores whether social media data can be used as a sensor of socio-economic recovery status in damaged areas during large-scale water-related disaster-recovery phases. For this purpose, we use social media communication as a proxy for estimating indicators of people’s activities in the real world. This study conducts both qualitative analysis and quantitative analysis. For the qualitative research, we carry out semi-structured interviews with used-car dealers in the tsunami-stricken area and unveil why people in the area demanded used cars. For the quantitative analysis, we collected Facebook page communication data and used-car market data before and after the Great East Japan Earthquake and Tsunami of 2011. By combining and analyzing these two types of data, we find that social media communication correlates with people’s activities in the real world. Furthermore, this study suggests that different types of communication on social media have different types of correlations with people’s activities. More precisely, we find that social media communication related to people’s activities for rebuilding and for emotional support is positively correlated with the demand for used cars after the Great East Japan Earthquake and Tsunami. On the other hand, communication about anxiety and information seeking correlates negatively with the demand for used cars.     

海淀北部：正在全力建设生态科技新区

2009年3月,国务院批复建设中关村国家自主创新示范区。2010年10月,北京市政府批复的《海淀北部地区控制性详细规划（街区层面）》提出,将海淀北部地区建设成为“具有全球影响力的科技创新基地,城乡统筹发展的典范地区和生态环境一流的城市发展新区”。简而言之,海淀北部地区未来将打造成为具有全球影响力的生态科技新区。     

为海淀第三次文代会礼赞

北风呼啸 吹不息胸中腾腾的烈焰 寒流滚滚 冻不僵心中陡起的狂澜