2021 Fiscal Year Annual Research Report
| Project/Area Number |
20J13138
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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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| Keywords | Adverse Selection / Contract Mechanism / Multimarket Competition / Stackelberg Oligopoly / Production Constraint |
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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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