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We examine alternating‐move policy games where the government and the private sector alternate their moves. In contrast with the standard policy game, the set of equilibrium payoffs of the present model is bounded away from the payoff under the one‐shot Nash equilibrium, called the Kydland–Prescott outcome, and the upper bound is close to the payoff under the optimal policy (called the Ramsey policy) if the government is sufficiently patient. In other words, the Kydland–Prescott outcome is not time consistent, while the Ramsey outcome could be approximated by a time‐consistent policy of the same game. 相似文献
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AKIHIKO MATSUI 《The Japanese Economic Review》2008,59(1):19-32
The present paper proposes a theory of man, wherein man constructs models of the world based on past experiences in social situations. The present theory considers experiences, or chunks of impressions, as primitives instead of an objective game, which is assumed to be given in the standard game theory. Agents construct models of the world based on direct and indirect experiences. Each model comprises a structural part and a factual part. The structural part is represented as a game, while the factual part is represented as a strategy profile of this game. In constructing a model, an agent might use certain axioms—for example coherence, according to which the model should be able to explain his or her own experiences; conformity to a solution concept; and minimality with respect to some simplicity measure. A few applications are presented to demonstrate how this theory works. 相似文献
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AKIHIKO YANASE 《Journal of Public Economic Theory》2006,8(1):171-179
This paper examines a differential game model of voluntary provision of a public good in which private agents' contributions accumulate over time and derives subsidy rules that achieve the socially efficient steady state. It is shown that the optimal subsidy rule is a simple one when agents use the open‐loop strategy, while under Markovian strategies it intricately depends on the parameters of the economy. 相似文献
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KOICHI FUTAGAMI AKIHIKO KANEKO YOSHIYASU ONO AKIHISA SHIBATA 《Journal of Public Economic Theory》2008,10(5):743-763
This paper constructs a small economy version of dynamic Heckscher‐Ohlin models with overlapping generations and analyzes effects of capital income taxation on the specialization pattern of the country. It is shown that once international asset trade is allowed, in the presence of international technological asymmetries, a small country eventually leads to perfect specialization in our overlapping generations model. It is also shown that the residence‐based tax has no effect on the specialization pattern while the source‐based tax has a negative effect on capital accumulation and thereby it can affect the specialization pattern of the small country. 相似文献
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We conducted a laboratory experiment on a dictator game with the option for a “voice” by a third party and compared it with the dictator game with a “voice” by the recipient. Our findings are as follows. The dictators' offers in response to an aggressive voice of the recipients are significantly lower than the dictators' offers in response to the corresponding voice of the third party. The dictators' responses to an aggressive voice differentiate the effects of the recipient's voice from those of the third party's. 相似文献
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AKIHIKO KAWAURA 《Contemporary economic policy》2011,29(3):407-415
This article investigates if legislators in a fragile democracy share the same local benefit seeking incentives that are observed among politicians in mature democracies. Fledgling democracies are characterized by uncertainty over the survival of democratic institutions, which may discourage elected officials' reelection effort in favor of more direct measures to gain personal payoffs. Analyses of the relationship between legislative representation and the allocation of the budget among Thailand's 76 provinces indicate that Thai legislators are directing government expenditure to their home provinces. This result suggests that politicians' self‐serving motives play an important allocation role even in a young, fragile democracy.(JEL D72, H59) 相似文献
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