要旨：This paper provides a detailed empirical investigation of the distribution of travel times on an urban road for valuation of travel time variability. Our investigation is premised on the use of a theoretical model with a number of desirable properties. The definition of the value of travel time variability depends on certain properties of the distribution of random travel times that require empirical verification. Applying a range of nonparametric statistical techniques to data giving minute-by-minute travel times for a congested urban road over a period of five months, we show that the standardized travel time is roughly independent of the time of day as required by the theory. Except for the extreme right tail, a stable distribution seems to fit the data well. The travel time distributions on consecutive links seem to share a common stability parameter such that the travel time distribution for a sequence of links is also a stable distribution. The parameters of the travel time distribution for a sequence of links can then be derived analytically from the link level distributions.

要旨：This paper empirically examines whether the geographical proximity of transaction partners improves the firms' profits by using the actual microdata on inter-firm transactions. I model the formation of transaction partners between newly entering firms and existing firms as a two-sided many-to-many matching game with transferable utility and estimate the structural parameters of the model. In the results, I find that the average distance to the transaction partners negatively affects the firms' structural revenues. This strongly suggests that the existence of agglomeration economies results from the inter-firm transactions that occur between geographically close firms. Furthermore, this effect is larger for entrant firms than existing firms.

要旨：When price distortions exist, the cost-benefit analysis must include changes in the deadweight loss in addition to the direct benefits and costs to transport users and non-users. Recent advances in the new economic geography (NEG) have highlighted the importance of price distortions due to imperfect competition. This article reviews recent contributions on the cost-benefit analysis in NEG models, and explores which elements of the models have contributed to different results that have been obtained.

要旨：本研究では、平成の大合併の事例をもとに合併という提携形成を分析した。市町村合併による人口増加は財政サービスに規模の経済をもたらし、収支を改善する。ただし、自分よりも格段に財政力の弱い市町村と合併した場合には、逆に収支が合併前よりも悪化することも考えられる。そこで、３つの市町村が合併するようなプランで、財政データから合併前後での財政改善への貢献度を算出し、それを利得とした提携形成ゲームを構築した。そして、理論で想定される提携の形成を実験により検証した。標準的な協力ゲームの理論では全提携を前提としているが、本研究では部分提携の可能性を考慮するために Hart & Kurz (1983) による提携形成モデルを用いた。このモデルでは各プレイヤーは希望する提携案を同時に提示し、意見の一致した場合には提携が形成され、各提携内では一定のルールで利得が配分される。「仲間はずれ」が発生するかどうかは均衡 (Hart & Kurz (1983)では均衡概念として強ナッシュ均衡 (strong Nash equilibrium) が用いられる) で形成される各提携と実験結果を比較すれば確かめることができる。実験の結果、理論が予想する部分提携よりも全員提携が多く選ばれるという結果を得た。つまり、「仲間はずれ」はあまり起こらず、自分に不利であっても全員を提携に入れることを選ぶ傾向にある。実験結果を統計的に分析すると、多くの場合には各プレイヤーはゲームに習熟するにつれて全員提携を形成しようとするが、優加法性が満たされずかつ他プレイヤーの過去の行動が観察できる場合には理論的予測に近づく傾向が見られる。さらに、優加法性が満たされる場合にはこれらの行動は不平等回避的な選好によって説明可能である。

【応用ミクロ経済学ワークショップ、国際経済学セミナーと共催】

要旨：The purpose of this research is to examine the effect of slot trading on route competition at the UK’s Gatwick and Heathrow airports. In 2008, the EC clarified the acceptance of slot trading in the EU. Free slot trading is expected to improve competitive rivalry between carriers and bring benefits to consumers. At the same time, as competition authorities have been concerned about, slot trading may lead to increased market concentration and power, which in turn could adversely affect competition between carriers. Nevertheless, only a limited number of papers have examined the effect of slot trading on competition. Thus, the present research examines what effects slot trading have had on route-level competition at the UK’s Gatwick and Heathrow airports by using the OAG flight data from intra-EU airports and the slot trading data in the UK from 2008 to 2009. The regression analyses yielded the following results: (1) Rival carriers have been discriminated against in slot trade in terms of the predicted probability of trading; (2) However, in spite of its apparent discriminatory nature, the slot trades among alliance carriers have contributed to slightly increased competition measured in terms of the number of effective competitors per route. In contrast, the slot trades between rival carriers had a significant negative effect on the number of effective competitors at the route level. Instead, trades between rivals seem to have contributed to the expansion of route network of carriers that acquired slots from their rival carriers. (These results seem to have some similarity with the mutual forbearance hypothesis of multimarket competition theory.) In sum, the results of the regression analyses suggest that on the one hand, slot trades among alliance members led to the increased route-level competition, and on the other hand, slot trades between rivals resulted in the creation of expanded route networks.

要旨：A regional development policy in Japan has focused on equalizing interregional difference. For achieving a policy target, Japanese government has executed attracting policy industries to the region. The net movement of population is sometimes used as one of the outcome because labor force moves to an area being able to earn higher income. A wage level associates with productivity. Nowadays, the net interregional migration is decreasing in Japan. I confirm whether the gap of interregional productivity exists or not. It is important topics for regional economist and urban planner whether it is adjusted with the gap of productivity through the movement of production factor or not. If the gap of interregional productivity does not exist, then the net movement of population decreases means the result to be adjusted with the movement of production factor (convergence). If the gap of interregional productivity exists, then the net movement of production factor decreases means to cause other factor. In this paper, I estimate regional production function and confirm whether the gap exists by comparing numerical value with real value. As a result of analysis, I have cleared that the gap of interregional productivity exists. It is mean that the net movement of population decrease in Japan does not cause to converge. As a result of empirical analysis that investigated the cause, it was clarified that it gives a big effect of interregional distribution. This is one of the big political topics in Japan's post WW2 regime.

【応用ミクロ経済学ワークショップ、国際経済学セミナーと共催】

要旨：This paper examines empirically whether collective action problems in condominiums decrease property values. Because of property co-ownership, there are problems associated with the decision-making process between the owners of units in condominiums. Further, condominium law in Japan requires a relatively high degree of unanimity in decision-making about maintenance and reconstruction, and failure to achieve unanimity potentially lowers property values. By comparing the property values of units in condominiums with rental apartments, we find that significant collective action costs exist in condominiums. In general, an increase in the number of unit owners makes it more difficult to resolve any conflicts of interest.

要旨：This study investigates coordination of binary choices on given specific social networks with incomplete information on random individual preference. Despite players' deterministic payoff is only influenced by local interaction with their neighborhoods, their strategies are affected both by direct and indirect interaction via diffusion of probabilistic belief on network. We proved that an equilibrium is robust one in which players' choices are biased to the advantageous alternative because of network externalities. Also, when uniformly distributed random preference is supposed, this model represents an unique equilibrium described by a Bonacich's centrality measure in which each player's choice is more agglomerated to the advantageous alternative if he is more central player in the network.