Working Papers

Dynamic Pricing of Information: Belief Divergence and Surplus Extraction 

with Chia-Hui Chen and Wing Suen

ISER Discussion Paper No. 1294

first version: October 2025; this version: June 2026


Optimal Feedback Dynamics Against Free-Riding in Collective Experimentation 

with Chia-Hui Chen, Hulya Eraslan and Takuro Yamashita

ISER Discussion Paper No. 1247r

first version: July 2024; this version: September 2025


Published Papers

Signaling Vision: Knowing When to Quit 

with Wing Suen

International Economic Review, vol.67, no.3, pp.997-1013, 2026


Social Learning and Strategic Pricing with Rating Systems 

with Chia-Hui Chen and Kong-Pin Chen

American Economic Journal: Microeconomics, vol.17, no.4, pp.147-180, 2025


Signaling under Double-Crossing Preferences: The Case of Discrete Types

with Chia-Hui Chen and Wing Suen

Journal of Mathematical Economics, vol.114, Article 103046, 2024


Pecuniary Emulation and Invidious Distinction: Signaling under Behavioral Diversity

with Wing Suen

Games and Economic Behavior, vol.147, pp.449-459, 2024


Should Product-Specific Advertisement be Regulated in Pharmaceutical Markets? 

with Tsuyoshi Takahara 

Journal of Public Economic Theory, vol.26, no.2, e12697, 2024


Pioneer, Early Follower or Late Entrant: Entry Dynamics with Learning and Market Competition

with Chia-Hui Chen and Arijit Mukherjee

European Economic Review, vol.152, Article 104360, 2023 


Signaling under Double-Crossing Preferences

with Chia-Hui Chen and Wing Suen

Econometrica, vol.90, no.3, pp.1225-1260, 2022


Reputation Concerns in Risky Experimentation

with Chia-Hui Chen and Wing Suen

Journal of the European Economic Association, vol.19, no.4, pp.1981-2021, 2021


A War of Attrition with Experimenting Players

with Chia-Hui Chen

Journal of Industrial Economics, vol.69, no.2, pp.239-269, 2021


Cheap Talk When the Receiver Has Uncertain Information Sources 

with Takashi Shimizu

Economic Theory, vol.68, no.2, pp.303-334, 2019


Hierarchical Experimentation

with Chia-Hui Chen

Journal of Economic Theory, vol.177, pp.365-404, 2018


Dynamic Performance Evaluation with Deadlines: The Role of Commitment

with Chia-Hui Chen

Journal of Industrial Economics, vol.66, no.2, pp.377-422, 2018


Cheap Talk with an Informed Receiver

with Takashi Shimizu

Economic Theory Bulletin, vol.4, no.1, pp.61-72, 2016


Careerist Experts and Political Incorrectness

with Chia-Hui Chen

Journal of Economic Behavior and Organization, vol.120, pp.1-18, 2015


Hierarchies versus Committees: Communication and Information Acquisition in Organizations

Japanese Economic Review, vol.66, no.1, pp.62-88, 2015


On Persistent Demand Shortages: A Behavioral Approach

with Yoshiyasu Ono

Japanese Economic Review, vol.65, no.1, pp.42-69, 2014


Dynamically Sabotage-Proof Tournaments

Journal of Labor Economics, vol.30, no.3, pp.627-655, 2012


Contracting with Self-Esteem Concerns 

Journal of Economic Behavior and Organization, vol.81, no.2, pp.329-340, 2012


Market Competition, R&D and Firm Profits in Asymmetric Oligopoly

with Toshihiro Matsumura and Noriaki Matsushima 

Journal of Industrial Economics, vol.59, no.3, pp.484-505, 2011


Should Civil Servants be Restricted in Wage Bargaining? A Mixed-Duopoly Approach

with Noriaki Matsushima

Journal of Public Economics, vol.93, no.3-4, pp.634-646, 2009


Incentives in Academics: Collaboration under Weak Complementarities

Labour Economics, vol.16, no.2, pp.215-223, 2009


Misperception-Driven Chaos: Theory and Policy Implications 

with Masanori Yokoo

Journal of Economic Dynamics and Control, vol.32, no.6, pp.1732-1753, 2008


Gender Specialization of Skill Acquisition

with Hiromi Nosaka 

B.E. Journal of Economic Analysis and Policy, vol.7, no.1 (Advances), Article 61, 2007


Optimal Promotion Policies with the Looking-Glass Effect

Journal of Labor Economics, vol.24, no.4, pp. 857-877, 2006


Seniority Bias in a Tournament

Review of Economic Design, vol.10, no.2, pp. 143-164, 2006


Team Incentives under Relative Performance Evaluation

Journal of Economics and Management Strategy, vol.15, no.1, pp.187-206, 2006


FDI May Help Rival Firms

with Noriaki Matsushima 

Economics Bulletin, vol.6, no.22, pp.1-8, 2005


Lifetime Employment as a Coordination Failure

Japan and the World Economy, vol.17, no.2, pp.209-222, 2005


Signaling and Strategically Delayed Promotion

Labour Economics, vol.11, no.6, pp.687-700, 2004


Education as Advertisement

Economics Bulletin, vol.10, no.8, pp.1-8, 2004


A Noncooperative Analysis of a Circular City Model

with Noriaki Matsushima

Regional Science and Urban Economics, vol.34, no.5, pp.575-589, 2004


Threshold Nonlinearities and Asymmetric Endogenous Business Cycles

with Masanori Yokoo

Journal of Economic Behavior and Organization, vol.54, no.2, pp.175-189, 2004


The Role of Intrahousehold Bargaining in Gender Discrimination

Rationality and Society, vol.15, no.3, pp.361-380, 2003


The Role of Social Norms in a Model of Marriage and Divorce

Journal of Economic Behavior and Organization, vol.51, no.1, pp.131-142, 2003