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Many developed countries face a growing need for long-term care provision because of population ageing. Japan is one such example, given its population's longevity and low birth rate. In this study, we examine the efficiency of Japan's regional long-term care system in FY2010 by performing a data envelopment analysis, a non-parametric frontier approach, on prefectural data and separating cost e...

We analyze a dynamic market with a seller who can make a one-time investment that affects the returns of tradable assets. The potential buyers of the assets cannot observe the seller's investment prior to the trade or verify it in any way after the trade. The market faces two types of inefficiency: the ex-ante inefficiency, i.e., the seller's moral hazard problem, and the ex-post inefficiency, ...

Social networks on the Internet have seen an enormous growth recently and play a crucial role in different aspects of today’s life. They have facilitated information dissemination in ways that have been beneficial for their users but they are often used strategically in order to spread information that only serves the objectives of particular users. These properties have inspired a revision of ...