Choice functions and weak Nash axioms

The Nash axiom is a basic property of consistency in choice. This paper proposes weaker versions of the axiom and examines their logical implications. In particular, we demonstrate that weak Nash axioms are useful to understand the relationship between the Nash axiom and the path independence axiom. We provide an application of weak Nash axioms to the no-envy approach. We present a possibility result and an impossibility result.     

MEGAⅡ在日本的编译工作

本文简要概述了MEGA项目由创建之初的《马克思恩格斯全集》历史考证版MEGAⅠ发展到如今的《马克思恩格斯全集》历史考证版MEGAⅡ的历史进程,以及日本作为国际分工的一部分所从事的MEGAⅡ的编译工作。日本对马克思和恩格斯著作集的研究始于19世纪,至20世纪90年代初承担了一部分MEGAⅡ的编辑工作,由于文化和语言上的不便,编译工作异常艰辛困难。本文作者以他的个人经验,详细介绍了日本MEGAⅡ编译工作的筹备及其实际进程。     

THE EFFICIENCY OF THE STATE‐OWNED FIRM AND SOCIAL WELFARE: A NOTE

We consider a mixed market where a state‐owned firm competes with private firms. If the number of firms is exogenous, then a deterioration of the efficiency of the state‐owned firm might improve social welfare. This situation occurs when the state‐owned firm is inefficient and private firms are efficient. However, if the number of firms is endogenous, then a deterioration of the efficiency of the state‐owned firm must reduce social welfare.     

A quantile-based test of protection for sale model

This paper proposes a new test of the Protection for Sale (PFS) model by Grossman and Helpman (1994). Unlike existing methods in the literature, our approach does not require any data on political organization. We use quantile and IV quantile regressions in our tests, using the data from Gawande and Bandyopadhyay (2000). Surprisingly, the results do not provide any evidence favoring the PFS model. We also explain why previous work may have found support for it.     

Emission Taxes and Optimal Refunding Schemes with Endogenous Market Structure

The purpose of this paper is to investigate optimal schemes for refunding the emission tax in a free-entry market where the production process generates emissions. We consider the regulation by a three-part tax policy: the government sets an emission tax, a refunding scheme, and an entry-license tax. In contrast to the case of the two-part tax-refund policy under no entry, we show that even if it is impossible to obtain subsidies from outside, the first-best outcome is always attained. Further, the government’s budget constraint is binding under the optimal schemes. Our result implies that the tax-refund system works effectively in a market with endogenous entry.     

A practitioner’s guide to Bayesian estimation of discrete choice dynamic programming models

This paper provides a step-by-step guide to estimating infinite horizon discrete choice dynamic programming (DDP) models using a new Bayesian estimation algorithm (Imai et al., Econometrica 77:1865?C1899, 2009a) (IJC). In the conventional nested fixed point algorithm, most of the information obtained in the past iterations remains unused in the current iteration. In contrast, the IJC algorithm extensively uses the computational results obtained from the past iterations to help solve the DDP model at the current iterated parameter values. Consequently, it has the potential to significantly alleviate the computational burden of estimating DDP models. To illustrate this new estimation method, we use a simple dynamic store choice model where stores offer ??frequent-buyer?? type rewards programs. Our Monte Carlo results demonstrate that the IJC method is able to recover the true parameter values of this model quite precisely. We also show that the IJC method could reduce the estimation time significantly when estimating DDP models with unobserved heterogeneity, especially when the discount factor is close to 1.     

The Hypothesis–Testing Ordering System: A New Competitive Weapon of Japanese Convenience Stores in a New Digital Era

This study focuses on the store–ordering system practiced by Japanese convenience stores. The article examines (1) the conceptual categorization of such ordering systems, (2) the history of the system development at three major convenience stores, and (3) the characteristics of 7–Eleven's development that led the way toward an innovative ordering system.     

Strategic crackdown on organized crime by local governments

Economics of Governance - This study examines strategic crackdown policies on organized crime between states or nations. In particular, we consider how organized crimes in different regions can...