Toshihiro Matsumura Home Page

Japanese |English

Correspondence address

Institute of Social Science, the University of Tokyo, 7-3-1, Hongo, Bunkyo-ku, Tokyo 113-0033, Japan.

Research fields

Industrial Organization, Public Economics, Law and Economics, Regional Science

Work experience

Professor, Institute of Social Science, the University of Tokyo, April 2008 - Current
Associate Professor, Institute of Social Science, University of Tokyo, October 1998 - March 2008
Associate Professor, Department of Social Engineering, Tokyo Institute of Technology, April 1996 - March 2001
Research Associate, Institute of Social and Economic Research, Osaka University, April 1994 - March 1996

Publications

dissertation

Doctoral dissertation ``Essays in Oligopoly with Endogenous Sequencing.'' (1996, the University of Tokyo)

articles in refereed journals

    Forthcoming Papers

  1. Endogenous Flexibility in Flexible Manifacturing System.
    forthcoming in Bulletin of Economic Research, (co-authored with Daisuke Shimizi).
  2. Competitiveness and Stability of Collusive Behavior.
    forthcoming in Bulletin of Economic Research, (co-authored with Noriaki Matsushima).
  3. Long-Run Effect of Foreign Penetration on the Optimal Degree of Privatization.
    forthcoming in Journal of Institutional and Theoretica Economics, (co-authored with Susumu Cato).
  4. How Many Firms Should Be Leaders? Beneficial Concentration Revisited
    forthcoming in International Economic Review (co-authored with Hiroaki Ino).
  5. Mixed Duopoly, Privatization, and Subsidization with Excess Burden of Taxation.
    forthcoming in Canadian Journal of Economics, (co-authored with Yoshihiro Tomaru).
  6. Presence of Foreign Investors in Privatized Firms and Privatization Policy.
    forthcoming in Journal of Economics, (co-authored with Ming Hsin Lin).
  7. Locating Outside a Linear City Can Benefit Consumers.
    forthcoming in Journal of Regional Science (co-authored with Noriaki Matsushima).
  8. Market Structure and Privatization Policy under International Competition.
    forthcoming in Japanese Economic Review (co-authored with Yoshihiro Tomaru).

    9. Published Papers

    Microeconomics and Game Theory

  9. Price Leadership in a Homogeneous Product Market.
    Journal of Economics, vol. 104(3), pp. 199-217, 2011 (co-authored with Daisuke Hirata).
  10. Collusion, Agglomeration, and Heterogeneity of Firms.
    Games and Economic Behavior, vol. 72(1), 306-313, 2011 (co-authored with Noriaki Matsushima).
  11. On the Uniqueness of Bertrand Equilibrium.
    Operations Research Letters, vol. 38(6), pp. 533-535, 2010 (co-authored with Daisuke Hirata).

    12. Mixed Oligopoly and Privatization of Public Enterprises

  12. Price versus Quantity in a Mixed Duopoly.
    Economics Letters, vol.116(2), pp. 174-177, 2012 (co-authored with Akira Ogawa).
  13. Welfare Consequences of an Asymmetric Regulation in Mixed Bertrand Duopoly.
    Economics Letters, vol 115(1), pp. 94-96, 2012.
  14. Privatization Waves.
    Manchester School, vol. 78(6), pp. 609-625, 2010 (co-authored with Daisuke Shimizu).
  15. What Role Should Public Enterprises Play in Free-Entry Markets?
    Journal of Economics, vol. 101(3), pp. 213--230, 2010 (co-authored with Hiroaki Ino).
  16. On the Robustness of Private Leadership in Mixed Duopoly.
    Australian Economic Papers, vol. 49(2), pp. 149-160, 2010 (co-authored with Akira Ogawa).
  17. Privatization and Entries of Foreign Enterprises in a Differentiated Industry.
    Journal of Economics, vol. 98(3), pp. 203-220, 2009 (co-authored with Noriaki Matsushima and Ikuo Ishibashi).
  18. Mixed Oligopoly and Spatial Agglomeration in Quasi-Linear City.
    Economics Bulletin, vol. 29(4), pp. 2722-2729, 2009 (co-authored with Takeshi Ebina and Daisuke Shimizu).
  19. R&D Competition between Public and Private Sectors.
    European Economic Review, vol.50(6), pp. 1347-1366, 2006 (co-authored with Ikuo Ishibashi).
  20. Mixed Oligopoly, Foreign Firms, and Location Choice.
    Regional Science and Urban Economics, vol. 36(6), pp. 753-772, 2006 (co-authored with Noriaki Matsushima).
  21. Mixed Oligopoly at Free Entry Markets.
    Journal of Economics, vol. 84(1), pp. 27-48, 2005 (co-authored with Osamu Kanda).
  22. Endogenous Cost Differentials between Public and Private Enterprises: A Mixed Duopoly Approach.
    Economica, vol. 71(284), pp. 671-688, 2004 (co-authored with Noriaki Matsushima).
  23. Endogenous Role in Mixed Markets: A Two Production Period Model.
    Southern Economic Journal, vol. 70(2), pp. 403-413, 2003.
  24. Stackelberg Mixed Duopoly with a Foreign Competitor.
    Bulletin of Economic Research, vol. 55(3), pp. 275-287, 2003.
  25. Mixed Oligopoly and Spatial Agglomeration.
    Canadian Journal of Economics, vol. 36(1), pp. 62-87, 2003 (co-authored with Noriaki Matsushima).
  26. Mixed Duopoly with Product Differentiation: Sequential Choice of Location.
    Australian Economic Papers, vol. 42(1), pp. 18-34, 2003 (co-authored with Noriaki Matsushima).
  27. Partial Privatization in Mixed Duopoly.
    Journal of Public Economics, vol. 70(3), pp. 473-483, 1998.

    28. Anti-Trust, Economic Regulation and Public Policy in Oligopoly Markets

  28. Congestion-Reducing Investments and Economic Welfare in a Hotelling Model.
    Economics Letters, vol. 96(2), pp. 161-167, 2007 (co-authored with Noriaki Matsushima).
  29. Tax Effects in a Model of Product Differentiation: A Note.
    Journal of Economics, vol. 89(1), pp.75-82, 2006 (co-authored with Minoru Kitahara).
  30. A Note on the Excess Entry Theorem in Spatial Markets.
    International Journal of Industrial Organization, vol. 24(5), pp. 1071-1076, 2006 (co-authored with Makoto Okamura).
  31. Equilibrium Number of Firms and Economic Welfare in a Spatial Price Discrimination Model.
    Economics Letters, vol. 90(3), pp. 396-401, 2006 (co-authored with Makoto Okamura).
  32. Cartel Stability in a Delivered Pricing Oligopoly.
    Journal of Economics, vol. 86(3), pp. 259-292, 2005 (co-authored with Noriaki Matsushima).
  33. Competition-Accelerating Public Investments.
    Australian Economic Papers, vol. 44(3), pp. 269-274, 2005.
  34. Strategic Complementarity in Direct Investments.
    Review of Development Economics, vol. 8(4), pp. 583-596, 2004.
  35. Consumer-Benefiting Exclusive Territories.
    Canadian Journal of Economics, vol. 36(4), pp. 1007-1025, 2003.
  36. Entry Regulation and Social Welfare with an Integer Problem.
    Journal of Economics (Zeitschrift für Nationalökonomie), vol. 71(1), pp. 47-58, 2000.
  37. Cournot Duopoly with Multi-period Competition: Inventory as a Coordination Device.
    Australian Economic Papers, vol. 38(3), pp. 189-202, 1999.

    38. R&D Competition, Technology Choice, and Network Externality

  38. Welfare Properties of Strategic R&D Investments in Hotelling Models.
    Economics Letters, vol. 115(3), pp. 465-468, 2012 (co-authored with Noriaki Matsushima).
  39. Market Competition, R&D and Firm Profits in Asymmetric Oligopoly.
    Journal of Industrial Economics. vol. 59(3). pp. 484-505, 2011 (co-authored with Junichiro Ishida and Noriaki Matsushima).
  40. When Small Firms Fight back against Large Firms in R&D Activities.
    B.E. Journal of Economic Analysis & Policy, vol.10(1)(Topics), Article 81, 2010 (co-authored with Noriaki Matsushima).
  41. Location Equilibrium with Asymmetric Firms: the Role of Licensing.
    Journal of Economics, vol. 99(3), pp. 267-277, 2010 (co-authored with Noriaki Matsushima and Giorgos Stamatopoulos).
  42. Realized Cost Based Subsidies for Strategic R&D Investments with Ex Ante and Ex Post Asymmetries.
    Japanese Economic Review, vol 57(3), pp. 438-448, 2006 (co-authored with Minoru Kitahara).
  43. Strategic R&D Investments with Uncertainty.
    Economics Bulletin, vol. 12(1), pp. 1-7, 2003.
  44. Endogenous Timing in the Switching of Technology with Marshallian Externalities.
    Journal of Economics (Zeitschrift für Nationalökonomie), vol. 63(1), pp. 41-56, 1996 (co-authored with Masako Ueda).

    45. Spatial Competition and Product Differentiation

  45. Spatial Cournot Competition and Transportation Costs in a Circular City.
    Annals of Regional Science, vol. 48(1), pp. 33-44, 2012 (co-authored with Noriaki Matsushima).
  46. Spatial Cournot Equilibria in a Quasi-Linear City..
    Papers in Regional Science, 90(3), pp. 613-628, 2011 (co-authored with Takeshi Ebina and Daisuke Shimizu).
  47. Equilibrium Location and Economic Welfare in Delivered Pricing Oligopoly.
    Economics Bulletinvol 29(2), pp. 761-769, 2009 (co-authored with Daisuke Shimizu).
  48. Cost Differentials and Mixed Strategy Equilibria in a Hotelling Model.
    Annals of Regional Science vol. 43(1), pp. 215-234, 2009 (co-authored with Noriaki Matsushima).
  49. Noncooperative Shipping Cournot Duopoly with Linear-Quadratic Transport Costs and Circular Space.
    Japanese Economic Review, vol 59(4), pp. 498-518, 2008 (co-authored with Daisuke Shimizu).
  50. Cournot and Bertrand in Shipping Models with Circular Markets.
    Papers in Regional Science, vol. 85(4), pp. 585-598, 2006 (co-authored with Daisuke Shimizu).
  51. Spatial Cournot Competition and Economic Welfare: A Note.
    Regional Science and Urban Economics, vol. 35(6), pp. 658-670, 2005 (co-authored with Daisuke Shimizu).
  52. Partial Agglomeration or Dispersion in Spatial Cournot Competition.
    Southern Economic Journal, vol. 72(1), pp. 224-235, 2005 (co-authored with Takao Ohkawa and Daisuke Shimizu).
  53. Economic Welfare in Delivered Pricing Duopoly: Bertrand and Cournot.
    Economics Letters, vol. 89(1), pp. 112-119, 2005 (co-authored with Daisuke Shimizu).
  54. Equilibria for Circular Spatial Cournot Markets.
    Economics Bulletin, vol. 18(1), pp. 1-9, 2003 (co-authored with Daisuke Shimizu).

    55. Endogenous Timing in Oligopoly

  55. Randomized Strategy Equilibrium in the Action Commitment Game with Costs of Leading.
    Operations Research Letters, vol. 39(2), pp. 115-117, 2011 (co-authored with Takeshi Murooka and Okira Ogawa).
  56. Payoff Dominance and Risk Dominance in the Observable Delay Game: A Note.
    Journal of Economics    , vol. 97(3), pp. 265-272, 2009 (co-authored with Akira Ogawa).
  57. Market Instability in a Stackelberg Duopoly.
    Journal of Economics (Zeitschrift für Nationalökonomie), vol. 75(3), pp. 199-210, 2002.
  58. Quantity-Setting Oligopoly with Endogenous Sequencing.
    International Journal of Industrial Organization, vol. 17(2), pp. 289-296, 1999.
  59. A Two-Stage Price-setting Duopoly: Bertrand or Stackelberg.
    Australian Economic Papers, vol. 37(2), pp. 103-118, 1998.
  60. How Many Firms Become Leaders?
    Australian Economic Papers, vol. 36, pp. 1-13, 1997.
  61. Two-stage Cournot Duopoly with Inventory Costs.
    Japanese Economic Review, vol. 48(1), pp. 81-89, 1997.
  62. Endogenous Timing in Cournot Duopoly Games.
    Proceedings of APORS'94, pp. 235-242, 1995.
  63. Endogenous Timing in Multi-stage Duopoly Games.
    Japanese Economic Review, vol. 46(3), pp. 257-265, 1995.

    64. Business Economics

  64. Profit-Enhancing Parallel Imports.
    Open Economic Review vol. 21(3), 433-447, 2010 (co-authored with Noriaki Matsushima).
  65. Simultaneous Price Changes, Information Acquisition on Common Competitors, and Welfare,
    Australian Economic Papers, vol.47(4), pp. 389-395, 2008 (co-authored with Minoru Kitahara).

    66. Law and Economics

  66. Revelation of Private Information about Unpaid Notes in the Trade Credit Bill System in Japan.
    Journal of Legal Studies, vol. XXIV(1), pp. 165-187, 1995 (co-authored with Marc Ryser).

Unpublished Works

Microeconomics and Game Theory

  • Asymmetric Welfare Implication between a Small Number of Leaders and a Small Number of Followers in Stackelberg Models, co-authored with Hiroaki Ino

    • Mixed Oligopoly and Privatization of Public Enterprises

    1. Anticompetitive Consequence of Nationalization of a Public Enterprise in Mixed Markets
    2. Competition and Privatization Policy: The Relative Performance Approach, co-authored with Makoto Okamura
    3. Endogenous Cost Differentials, Competitiveness in Mixed Markets, and the Privatization of Public Enterprises, co-authored with Noriaki Matsushima
    4. Equilibrium Location with Elastic Demand in Mixed Duopoly, co-authored with Minoru Kitahara
    5. Long-Run Effects of Tax Policies in a Mixed Market, co-authored with Susumu Cato.
    6. Optimal Privatization Policy in Mixed Stackelberg Duopolies, co-authored with Ming Hsin Lin

      7. Antitrust and Regulation

    7. Airport Privatization and International Competition, co-authored with Noriaki Matsushima
    8. Contestable Markets, Cream Skimming, and Multiple Potential Entrants, co-authored with Ikuo Ishibashi
    9. Vertical Separation and Access Charge, co-authored with Noriaki Matsushima
    10. Vertical Separation and Access Charge, co-authored with Noriaki Matsushima

      11. Spatial Competition

    11. Cost Uncertainty and Spatial Agglomeration (contimum choice version), co-authored with Noriaki Matsushima, the first version of the paper is written in 2002.
    12. Evolution of Competitive Equilibrium with Endogenous Product Differentiation, co-authored with Noriaki Matsushima and Tetsuo Yamamori
    13. Multiple Long-Run Equilibria in a Spatial Cournot Model and Welfare Implications, co-authored with Takanori Ago

      14. R&D, Lisencing, and Network Externality

    14. Steady R&D by Industry Leaders and Innovative R&D by Industry Followers, co-authored with Yasuhiro Arai
    15. Relative Performance and R&D Competition, co-authored with Noriaki Matsishima and Susumu Cato
    16. Patent Licensing, Bargaining, and Product Positioning, co-authored with Noriaki Matsushima.

      17. Business Economics

    Teaching

    (April 2012-March 2013)

    Regulation Policy, Case Study A, Case Study B, Case Study C (Graduate Schhol of Public Policy)

    Oligopoly Theory (Graduate School of Economics)

    Economics of Regulation (Department of Economics, Undergraduate)

    Academic Activities

    Member, Science Council of Japan
    Associate Editor, Journal of Economics
    Member, Editorial Board, Papers in Regional Science
    Co-editor, Law and Economics Review
    Vice President for Asia,Intertic

    Experience of Government Committees and Advisory Boards

    METI(Ministry of Economy, Trade and Industry)

    Member, Advisory Council for Regulation of Electric Power Industry.
    Member, Fundamental Energy Policies Committee, Advisory Committee for Natural Resource and Energy.
    Member, Promotion of Infrastracture Construction in Gas Energy Industry Committee, Advisory Committee for Natural Resource and Energy.
    Member, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy.
    Member, Committee to Energy Conservation, Advisory Committee for Natural Resource and Energy
    Member, Committee to Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Committee to Nuclear Power, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Nuclear Power under Liberalization of Electricity Market, Committee to Nuclear Power Committee Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Evaluate System Reform, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Evaluate System Reform, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Rule Formulation for Gas Energy Markets, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Monitoring for Electricity Markets, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Renewable Energy Portfolio Standard, New Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Gas Policy, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Monitoring for Gas Markets, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Rule Formulation for Gas Markets, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, Subcommittee to Competition Policy, Committee of New Gross Policy, Advisory Committee for Industrial Structure
    Member, WG of Energy Market, Subcommittee to Competition Policy, Committee of New Gross Policy, Advisory Committee for Industrial Structure
    Member, WG of Institution and Practice for Gas Markets, Subcommittee to Gas Policy, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, WG of Fair Trade in Electricity Markets, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, WG of Fair Trade in Gas Markets, Subcommittee to Rule Formulation for Gas Markets, Gas Energy Committee, Advisory Committee for Natural Resource and Energy
    Member, WG of Fair Use of Electric System, Subcommittee to Basic Problem in Electric Power Industry, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, WG of Incentives for Investment in Nuclear Power, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, WG of Rule Formulation for Electric Power Markets, Electric Power Industry Committee, Advisory Committee for Natural Resource and Energy
    Member, SG of Smart Mater
    Member, SG of Smart Community
    Member, SG of Measure of Electric Use
    Member, SG of Water Powers in Electric Power Industry
    Member, SG of Ultra Low Carbon Emission Society
    Member, WG of Electric Power Fee in SG of Ultra Low Carbon Emission Society
    Member, SG of Smart Mater of Electric Use
    Member, SG of Study on Crude Oil Price
    Member, WG of Study on Recent Flacutuation of Crude Oil Price in SG of Study on Crude Oil Price

    Cabinet Office, Government of Japan

    WG of Energy Regulation, Comittee of Regulation and Institution Reform, Government Revitalization Unit
    Member, WG of Green Innovation, Comittee of Regulation and Institution Reform, Government Revitalization Unit
    Member, WG of IT, Energy and Transportation, Council for the Promotion of Regulatory Reform

    Cabinet Secretariat

    Member, TEPCO Management and Finance Investigation Committee

    Fair Trade Commission

    Member, SG on Regulation and Antitrust

    Ministry of Internal Affairs and Communications

    Member, SG on Promotion ofIntensive Use and Development in Internet by IPv6.
    Member, WG on the Problems in Access and ISP Business, SG on Promotion ofIntensive Use and Development in Internet by IPv6.
    Member, SG on Price Cap and Regulation in Telecommunication
    Member, SG on Internet Industry
    Member, WG of Transition to IPv6 and Business of ISP, SG on Internet Industry
    Member, SG on Neutrality of Network
    Member, WG of Evaluation for Competition, SG on Neutrality of Network
    Member, SG on Business Model of Network Industry

    National Police Agency

    Member, Committee of Inspection of Procurement
    Member, Committee of Improvement of Administration

    Ministry of Environment

    Member, SG on Promotion of Low Emission Vehicles
    Member, SG on Environmental Tax for Global Warming

    Nuclear Damage Liability Facilitation Fund

    Member, Management Committee

    Electric Power System Council of Japan (ESCJ)

    Member, Fair Use Committee

    Japan Electric Power Exchange (JEPX)

    Member, Special Committee on Promotion of Trading Volume

    Workshops

    ISS Industrial Organization Workshop
    Micro Econmics Wrokshop
    Urban Economics Wrokshop