Research Fellow, CESifo Institute
Senior Researcher, The Canon Institute for Global Studies
Counselor, Kyoto Prefecture
About my research
My primary research filed is Intermediation Theory. It focuses attention on the behavior of economic agents who intermediate between buyers and sellers in markets for financial assets, goods, and labor service. I also work on dynamic pricing and money and credit.
Selected publications
Strategic limitation of market accessibility: search platform design and welfare (with Chris Teh and Chengsi Wang), , Journal of Economic Theory, 216 (2024), 105798
Endogenous cycles in collateralized credit (with Vyacheslav Arbuzov, Yu Awaya and Hiroyuki Fukai), Journal of Money, Credit and Banking, 56–2–3 (2024), 627-646
- Marketmaking middlemen (with Pieter Gautier and Bo Hu), RAND Journal of Economics, 54-1 (2023), 83-103
Rational bubbles and middlemen (with Yu Awaya and Kohei Iwasaki), Theoretical Economics, 17-4 (2022), 1559-1587
A model of collateral: endogenizing the borrowing constraint (with Yu Awaya and Hiroyuki Fukai), International Economic Review, 62-32 (2021) 1131-1151
Multiproduct intermediaries (with Andrew Rhodes and Jidong Zhou), Journal of Political Economy, 129-2 (2021) 421-464
Competition in the presence of individual demand uncertainty (with Marc Möller), RAND Journal of Economics, 47 (2016) 273-292
Liquidity constraints in a monetary economy (with Leo Ferraris), International Economic Review, 53 (2012) 255-277
Collateral fluctuations in a monetary economy (with Leo Ferraris), Journal of Economic Theory, 146 (2011) 1915-1940
A model of merchants, Journal of Economic Theory 145 (2010) 1865–1889
Advance purchase discounts versus clearance sales (with Marc Möller), Economic Journal 547 (2010) 1125-1148
Collateral secured loans in a monetary economy (with Leo Ferraris), Journal of Economic Theory 143 (2008) 405-424