| Project/Area Number |
20J13138
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| Research Category |
Grant-in-Aid for JSPS Fellows
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| Allocation Type | Single-year Grants |
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| Section | 国内 |
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| Review Section |
Basic Section 07010:Economic theory-related
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| Research Institution | Kyoto University |
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Principal Investigator |
HerreraVelasquez Jose de Jesus 京都大学, 大学院経済学研究科, 特別研究員(DC2)
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| Project Period (FY) |
2020-04-24 – 2022-03-31
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| Project Status |
Completed (Fiscal Year 2021)
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| Budget Amount *help |
¥1,100,000 (Direct Cost: ¥1,100,000)
Fiscal Year 2021: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 2020: ¥600,000 (Direct Cost: ¥600,000)
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| Keywords | Adverse Selection / Contract Mechanism / Multimarket Competition / Stackelberg Oligopoly / Production Constraint / Conglomerate Mergers / Antitrust / Diversification / Game Theory / Resources |
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| Outline of Research at the Start |
To comprehensively study the economic reasoning behind the conglomerate mergers in a competitive structure from the perspective of the field of industrial organization based on game theory. First, we analyze the conglomerate mergers in the context of agency problems. Second, we study the merger and divesting decisions of the firms.
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| Outline of Annual Research Achievements |
The paper "Agency problems in a competitive conglomerate with production constraints" was completed. The study develops an adverse selection model of a competing conglomerate with production constraints. It fully characterize the first and the second-best contracts. When the production constraints make the first best outcome unattainable, the second-best contract is either separating or pooling.
The paper "Conglomerate merger and divestment dynamics" was completed. It employs a discrete-time, infinite horizon theoretical model to analyze the diversifying and divesting behavior of a monopolist. The conglomerate acquires a firm and stays merged in periods where the value of the demand of the new market remains high. Otherwise, the conglomerate will merge and divest intermittently.
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| Research Progress Status |
令和3年度が最終年度であるため、記入しない。
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| Strategy for Future Research Activity |
令和3年度が最終年度であるため、記入しない。
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