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排序方式: 共有81条查询结果,搜索用时 15 毫秒
1.
Yasuhiro Sakai 《Journal of Economic Theory》1974,8(3):292-304
The main result of this paper is that, provided the range of the demand function is convex and the whole budget is spent, the strong axiom of revealed preference holds if and only if the weak axiom of revealed preference and a certain “regularity” condition both hold. The regularity condition is a relationship between two definitions of expenditure compensation function that must hold if the strong axiom holds. The paper distinguishes itself from previous work in that no continuity assumptions are made on the demand function. It also discusses the relationship of the regularity condition used in this paper to the one used by Uzawa and van Moeseke. 相似文献
2.
Yasuhiro Sakai 《Journal of Economic Theory》1977,14(1):113-129
This paper studies the axiomatic foundations of the indirect utility function, based upon a revealed preference approach. A chain of comparisons of budgets is regarded as giving a relation on the price-income space (a revealed favorability relation) rather than a relation on the commodity space (a revealed preference relation). The weak and strong axioms of revealed favorability are introduced by analogy with the weak and strong axioms of revealed preference, and the relationship between the former two axioms is investigated. The indirect and direct utility functions are then derived on the basis of the strong axiom of revealed favorability. Neither the continuity property of the demand function nor the convex property of its range is required for the approach taken in the paper. 相似文献
3.
Seung-Hyun Lee Yasuhiro Yamakawa Mike W. Peng Jay B. Barney 《Journal of Business Venturing》2011,26(5):505-520
How do bankruptcy laws as formal institutions affect entrepreneurship development around the world? Do entrepreneur-friendly bankruptcy laws encourage more entrepreneurship development at a societal level? We posit that if bankrupt entrepreneurs are excessively punished for failure, they may give up potentially high-return but inherently high-risk opportunities to start new businesses. Amassing a cross-country database from 29 countries spanning 19 years (1990-2008), we find that lenient, entrepreneur-friendly bankruptcy laws are significantly correlated with the level of entrepreneurship development as measured by the rate of new firm entry. 相似文献
4.
5.
Takero Doi 《Empirical Economics》1999,24(4):667-691
This paper empirically analyses for the first time the median voter hypothesis in Japan as a means of investigating whether
or not Japanese prefectural finance reflects the preference of the median voter. The hypothesis is tested by estimating the
demand functions of local public goods in each prefecture. As official data on the income of the median voter is unavailable
in Japan, respective prefectural data is constructed using official data on income distribution and taxation. Reasonable intuitive
interpretation of results indicates that the median voter hypothesis is supported in prefectural finances, and that voter
preference affects the outcome of gubernatorial elections, i.e., a governor's reelection probability, by estimating a probit
model. When considering the centralized prefectural government system in Japan, these results indicate that central government
management of prefectural expenditures via inter-regional grants ultimately reflects jurisdictional median voter preference.
First version received: December 1997/Final version received: February 1999 相似文献
6.
The present study analyses investments within the Malaysian electronics industry in 1991 to assess the effectiveness of development policy in light of strong agglomeration effects in the electronics industry. We find that agglomeration and the use of industrial estates as development policy have had positive effects on firms' location choice. However, agglomeration has a much larger effect than industrial estates. In addition, we find that the marginal effect of industrial estates is positively correlated with the degree of agglomeration. This suggests that improvement of problems of regional inequality by industry estates would be very difficult in reality. 相似文献
7.
An attempt has been made to examine some aspects of transaction structure of the small business sector in Japanese manufacturing. It has been found that there are some interesting findings in the industrial organization of the sector (1) In the transactions of intermediate goods with manufacturing, small businesses have more frequent transactions with other small businesses than with large firms. On the other hand, large firms have more transactions with each other than with small businesses; (2) The transactions between SMEs and large firms, and between SMEs themselves vary from industry to industry, depending on production/demand structure of an industry and product structure of its SMEs sector; (3) In engineering, such as electrical machinery and transport equipment, the intra-industry transactions from small businesses to large firms are great, suggesting a larger extent of subcontracting relationships. Also, textiles, clothing, and printing and publishing also have higher subcontracting transactions.The relationships are different between the two groups. 相似文献
8.
This study decomposes the momentum factor (MOM) in the commodity futures market. A high-to-price (HTP) factor generates a higher Sharpe ratio than a price-to-high (PTH) factor. We uncover that the profitability mechanisms across three momentum factors are different. The positive returns on MOM and PTH are associated with overconfidence and strong self-attribution. In contrast, HTP is linked to investors' underreaction and the information diffusion process. Moreover, we find that positive demand shocks raise the return on HTP. 相似文献
9.
This paper investigates the empirical evidence of the pricing of macroeconomic factors in the Japanese stock market during the bubble period using Arbitrage Pricing Theory (APT) model. We also examine pre- and post-bubble periods in order to compare the robustness of priced factors over the bubble period. We find that the empirical content of the APT, namely the implied across-equation pricing restrictions, is not rejected in any of the sample period. 相似文献
10.
Yasuhiro Sakai 《Managerial and Decision Economics》1993,14(5):419-432
This paper analyzes the welfare implications of acquiring information for profit-maximizing and labor-managed duopolies. We invent a unified method of exploring the role of information in a two-person game under uncertainty on the basis of comparative static analysis, and then apply the method to both the PMF and the LMF. It is shown that whereas the LMF's behavior is analogous to that of the PMF twin in some circumstances, the former may be entirely different from the latter in others. Because a special status is accorded to labor as a variable factor of production, the informational analysis of the LM economy requires special care for both computations and interpretations. 相似文献