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Design and Implementation of Piecewise-Linear Contracts

Research Project

Project/Area Number 15K03363
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Research Field Economic theory
Research InstitutionRissho University (2016-2018)
Meisei University (2015)

Principal Investigator

WATABE Masahiro  立正大学, 経済学部, 准教授 (00327694)

Co-Investigator(Kenkyū-buntansha) 花薗 誠  名古屋大学, 経済学研究科, 教授 (60362406)
Project Period (FY) 2015-04-01 – 2019-03-31
Project Status Completed (Fiscal Year 2018)
Budget Amount *help
¥3,900,000 (Direct Cost: ¥3,000,000、Indirect Cost: ¥900,000)
Fiscal Year 2017: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2016: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2015: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Keywordsブロック料金制 / 契約の複雑性 / 情報の非対称性 / 契約理論 / 消費者心理 / 情報の曖昧さ / 区分的線形契約
Outline of Final Research Achievements

In practice, many contracts are piecewise-linear. An important aspect of this research is the complexity of contracts. The objectives of this study are to (1) examine whether simple piecewise-linear contracts perform well relative to fine-tuned optimal contracts in principal-agent settings, and (2) investigate the effects of non-uniform heterogeneity across agents and/or psychological aspects of decision making such as counterfactual thinking and epsilon-contamination.
Regarding the validity of simple contracts, for example, it turns out that a properly designed simple quota-based piecewise-linear contract performs well on the entire region of the relevant parameter values in a principal-agent problem under moral hazard and adverse selection.

Academic Significance and Societal Importance of the Research Achievements

本研究では、公共料金や携帯電話料金に用いられているような区分的線形契約 (ブロック料金制) や労働者に対するインセンティブ契約に関する経済学的根拠を模索した。企業が直面している消費者や労働者の属性の分布の不均一性や、反実仮想 (counterfactual thinking) や曖昧な情報 (epsilon-contamination) といった経済主体の心理的側面を考慮する状況において、理論上の非線形的な最適契約とは形状が異なるが、最適契約を十分に代替するような簡素な区分的線形契約の可能性について考察した。

Report

(5 results)
  • 2018 Annual Research Report   Final Research Report ( PDF )
  • 2017 Research-status Report
  • 2016 Research-status Report
  • 2015 Research-status Report
  • Research Products

    (19 results)

All 2019 2018 2017 2016 2015

All Journal Article (9 results) (of which Open Access: 3 results,  Acknowledgement Compliant: 2 results,  Peer Reviewed: 2 results) Presentation (9 results) (of which Int'l Joint Research: 3 results,  Invited: 4 results) Book (1 results)

  • [Journal Article] Two-Block Tariffs for Heterogeneous Consumers with Counterfactual Thinking2019

    • Author(s)
      Masahiro Watabe
    • Journal Title

      經濟學季報

      Volume: 69

    • Related Report
      2018 Annual Research Report
    • Open Access
  • [Journal Article] On the Performance of Quota-based Compensation Scheme for Heterogeneous Salesforces2018

    • Author(s)
      Masahiro Watabe
    • Journal Title

      立正大学経済学会ディスカッション・ペーパー・シリーズ

      Volume: 4

    • NAID

      120006549940

    • Related Report
      2017 Research-status Report
    • Open Access
  • [Journal Article] Uniform Two-Part Tariff Pricing for Heterogeneous Consumers2018

    • Author(s)
      Masahiro Watabe
    • Journal Title

      經濟學季報

      Volume: 68

    • NAID

      120006579671

    • Related Report
      2017 Research-status Report
    • Open Access
  • [Journal Article] Cost-based procurement contracts with ambiguity2017

    • Author(s)
      Masahiro Watabe
    • Journal Title

      經濟學季報

      Volume: 66

    • NAID

      120006465593

    • Related Report
      2016 Research-status Report
    • Acknowledgement Compliant
  • [Journal Article] A characterization of implementability of decision rules via a menu of three-part tariffs2016

    • Author(s)
      Masahiro Watabe
    • Journal Title

      Eurasian Economic Review

      Volume: 印刷中 Issue: 3 Pages: 459-479

    • DOI

      10.1007/s40822-016-0050-0

    • Related Report
      2015 Research-status Report
    • Peer Reviewed / Acknowledgement Compliant
  • [Journal Article] Endogenous Product Boundary2015

    • Author(s)
      Takanori Adachi, Takeshi Ebina, Makoto Hanazono
    • Journal Title

      Manchester School

      Volume: 印刷中 Issue: 1 Pages: 13-40

    • DOI

      10.1111/manc.12134

    • Related Report
      2015 Research-status Report
    • Peer Reviewed
  • [Journal Article] Nonuniform Prices with Income Effects2015

    • Author(s)
      Masahiro Watabe
    • Journal Title

      Meisei University Discussion Paper Series

      Volume: 33

    • Related Report
      2015 Research-status Report
  • [Journal Article] Duality in Nonlinear Pricing with Applications to Block Tariffs2015

    • Author(s)
      Masahiro Watabe
    • Journal Title

      Meisei University Discussion Paper Series

      Volume: 32

    • Related Report
      2015 Research-status Report
  • [Journal Article] 価格決定・資源配分機構としてのオークションの理論2015

    • Author(s)
      花園誠
    • Journal Title

      数理経済学の源流と展開(第7章)

      Volume: - Pages: 143-170

    • Related Report
      2015 Research-status Report
  • [Presentation] On the Performance of Quota-based Compensation Scheme for Heterogeneous Salesforces2018

    • Author(s)
      Masahiro Watabe
    • Organizer
      the 45th Annual Conference of the European Association for Research in Industrial Economics (EARIE 2018)
    • Related Report
      2018 Annual Research Report
    • Int'l Joint Research
  • [Presentation] On the Performance of Piece-rate Incentive Schemes: Some Explicit Solutions Beyond the Uniform Distribution2017

    • Author(s)
      Masahiro Watabe
    • Organizer
      The Society for Institutional & Organizational Economics (SIOE) 2017
    • Related Report
      2017 Research-status Report
    • Int'l Joint Research
  • [Presentation] On the Performance of Piece-rate Incentive Schemes: Some Explicit Solutions Beyond the Uniform Distribution2017

    • Author(s)
      Masahiro Watabe
    • Organizer
      日本経済学会2017年度秋季大会
    • Related Report
      2017 Research-status Report
  • [Presentation] On the Performance of Piece-rate Incentive Schemes: Some Explicit Solutions Beyond the Uniform Distribution2017

    • Author(s)
      Masahiro Watabe
    • Organizer
      一橋大学 Economic Theory Workshop
    • Related Report
      2017 Research-status Report
  • [Presentation] On Constructing Nonlinear Pricing Schemes2016

    • Author(s)
      Masahiro Watabe
    • Organizer
      the XXXI Jornadas de Economia Industrial 2016
    • Place of Presentation
      the University of the Balearic Islands, Spain
    • Year and Date
      2016-09-01
    • Related Report
      2016 Research-status Report
    • Int'l Joint Research
  • [Presentation] Is a Big Entrant a threat to Incumbents? The Role of Demand Substitutability in Competition among the Big and the Small2016

    • Author(s)
      Makoto Hanazono, Lijun Pan
    • Organizer
      Microeconomics Workshop
    • Place of Presentation
      慶應義塾大学
    • Year and Date
      2016-04-25
    • Related Report
      2015 Research-status Report
    • Invited
  • [Presentation] Competition among the Big and the Small with Different Product Substitution2016

    • Author(s)
      花園誠、Lijun Pan
    • Organizer
      契約理論研究会
    • Place of Presentation
      関西学院大学梅田エクステンション
    • Year and Date
      2016-03-19
    • Related Report
      2015 Research-status Report
    • Invited
  • [Presentation] Procurement Auctions with General Price-Quality Evaluation2015

    • Author(s)
      Makoto Hanazono
    • Organizer
      Microeconomics Workshop
    • Place of Presentation
      東京大学
    • Year and Date
      2015-04-21
    • Related Report
      2015 Research-status Report
    • Invited
  • [Presentation] Managerial Incentives Revisited2015

    • Author(s)
      渡部真弘
    • Organizer
      契約理論研究会
    • Place of Presentation
      名古屋大学
    • Year and Date
      2015-04-18
    • Related Report
      2015 Research-status Report
    • Invited
  • [Book] 数理経済学の源流と展開2015

    • Author(s)
      武藤功・花園誠(編者)
    • Total Pages
      325
    • Publisher
      慶應義塾大学出版会
    • Related Report
      2015 Research-status Report

URL: 

Published: 2015-04-16   Modified: 2020-03-30  

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