ISS: Research Staff: MATSUMURA, Toshihiro

Institute of Social Science The University of Tokyo

the University of Tokyo

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Research Staff

MATSUMURA, Toshihiro

Division Department of Comparative Contemporary Economics 　
Research Fields Industrial Organization, Public Economics, Energy and Environmemtal Economics, Regional Science
E-mail

matsumuriss.u-tokyo.ac.jp
Homepage

http://web.iss.u-tokyo.ac.jp/~matsumur/

Teaching and Research Appointments

April 2008 − Professor, Institute of Social Science, The University of Tokyo
April 1999 − March 2008 Associate Professor, Institute of Social Science, The University of Tokyo
April 1996 − March 1999 Associate Professor, Department of Social Engineering, Tokyo Institute of Technology
April 1994 − March 1996 Research Associate, Institute of Social and Economic Research, Osaka University

Topics of Research

1Mixed Oligopoly and Privatization of Public Enterprises

2Relative Performance and Market Structure

3Corporate Social Responsibility and Market Performance

4Antitrust and Economic Regulations

5Environment and Industrial Organization

6Economic Analysis of Japanese Energy Markets

Selected Publications

  • Green transformation in oligopoly markets under common ownership, Energy Economics vol. 126, 106892 October 2023 (co-authored with Kosuke Hirose).
  • Common ownership in a delivered pricing duopoly,Journal of Economics vol. 139(3), 191-208, August 2023 (co-authored with Nuowen Bai).
  • Competition mode and common ownership in a mixed oligopoly, Manchester School, vol. 91(4), 306-319, July 2023 (co-authored with Lili Xu and Yidan Zhang)
  • “Common ownership and environmental corporate social responsibility”, Energy Economics, vol. 114, 106269, October 2022 (co-authored with Kosuke Hirose)
  • “Welfare-reducing price competition under relative performance delegation with convex costs”, Economic Modelling, vol. 112, 105871, July 2022 (co-authored with Lili Xu)
  • “Market Competition and Strategic Choices of Electric Power Sources under Fluctuating Demand”, Resource and Energy Economics, vol. 68, 101280, May 2022 (co-authored with Hiroaki Ino and Norimichi Matsueda)
  • “Procurement of Advanced Inputs and Welfare-Reducing Vertical Integration”, Journal of Economics, vol. 135(1), 255–283, April 2022 (co-authored with Chul-Hi Park and Sang-Ho Lee)
  • “Free Entry under an Output-Cap Constraint.” Economics Letters，vol.210，110192，January 2022．(Hiroaki Ino and Toshihiro Matsumura)
  • “Profit-enhancing entries in mixed oligopolies.” Southern Economic Journal，vol. 88(1)，pp. 33-55，July 2021．(Junichi Haraguchi and Toshihiro Matsumura)
  • “The relationship between privatization and corporate taxation policies.” Journal of Economics，vol. 133(1)，pp. 85-101，June 2021．(Yi Liu, Toshihiro Matsumura, and Chenhang Zeng)
  • “Optimality of Emission Pricing Policies Based on Emission Intensity Targets under Imperfect Competition.” Energy Economics，vol.98，105238，June 2021．(Hiroaki Ino and Toshihiro Matsumura)
  • “Promoting Green or Restricting Gray? An Analysis of Green Portfolio Standards.” Economics Letters, vol. 198, 109650, January 2021. (Hiroaki Ino and Toshihiro Matsumura)
  • “Free Entry under Common Ownership.” Economics Letters, vol. 195, 109489, October 2020. (Susumu Sato and Toshihiro Matsumura)
  • “Endogenous Public and Private Leadership with Diverging Social and Private Marginal Costs.” Manchester School, vol. 88(5), pp. 699-730, September 2020. (Junichi Haraguchi and Toshihiro Matsumura)
  • “Noncooperative and Cooperative Environmental Corporate Social Responsibility.” Journal of Institutional and Theoretical Economics, vol 176(3), pp. 549-571, September 2020. (Kosuke Hirose Sang-Ho Lee, and Toshihiro Matsumura)
  • “Implicit Protectionism via State Enterprises and Technology Transfer from Foreign Enterprises.” Review of International Economics, vol. 28(3), pp. 723-743, August 2020. (Junichi Haraguchi and Toshihiro Matsumura)
  • “Asymmetry Among Private Firms and Optimal Privatization Policy.” Bulletin of Economic Research, vol.72(3), pp. 213-224, July 2020. (Junichi Haraguchi and Toshihiro Matsumura)
  • “Lack of Commitment to Future Privatization Policies May Lead to Worst Welfare Outcome.” Economic Modelling, vol.88, pp. 181-187, June 2020. (Junichi Haraguchi and Toshihiro Matsumura)
  • “A Comparison between Emission Intensity and Emission Cap Regulations.” Energy Policy, vol 137, 111115, February 2020.（Kosuke Hirose, Toshihiro Matsumura）
  • “A Negative Effect of Cost-Reducing Public Investment: The Role of Firms'Entry.”Economic Record, vol. 95(308), 2019, pp. 81-89.(Toshihiro Matsumura and Atsushi Yamagishi)
  • “Comparing Welfare and Profit in Quantity and Price Competition within Stackelberg Mixed Duopolies.”Journal of Economics, vol.126(1), 2019, pp.75-93.(Kosuke Hirose and Toshihiro Matsumura)
  • “Dynamic Privatization Policy.” Manchester School, vol. 87(1), 2019, pp. 37-59. (Susumu Sato and Toshihiro Matsumura)
  • “Optimal Privatization Policy in Mixed Stackelberg Duopolies.”Arthaniti: Journal of Economic Theory and Practice, vol.17(1), 2018, pp.1-14.(Ming Hsin Lin and Toshihiro Matsumura)(corresponding author)
  • “Government-Leading Welfare-Improving Collusion.”International Review of Economics and Finance, vol. 56, 2018, pp. 363-370.(Junichi Haraguchi and Toshihiro Matsumura)
  • “Competitive Pressure from Neighboring Markets and Optimal Privatization Policy.”Japan and The World Economy, vol.46, 2018, pp.1-8.(Junichi Haraguchi, Toshihiro Matsumura, and Shohei Yoshida)
  • “Optimal Privatization and Uniform Subsidy Policies: A Note.”Journal of Public Economic Theory, vol. 20(3), 2018, pp.416-423.(Ming Hsin Lin and Toshihiro Matsumura)
  • “Eco-Technology Licensing by a Foreign Innovator and Privatization Policy in a Polluting Mixed Duopoly.”Asia-Pacific Journal of Accounting and Economics, vol. 25(3-4), 2018, pp.433-448.(Seung-Leul Kim, Sang-Ho Lee, and Toshihiro Matsumura)
  • “An Analysis of Entry-then-Privatization Model: Welfare and Policy Implications” Journal of Economics, vol.123(1), January 2018, pp. 71–88. (Sang-Ho Lee, Toshihiro Matsumura, and Susumu Sato)
  • “Inefficient but Robust Public Leadership” Journal of Industry, Competition and Trade, vol. 17(4), December 2017, pp. 387–398. (Toshihiro Matsumura and Akira Ogawa)
  • “Endogenous Timing in Mixed Duopolies With Externality” Australian Economic Papers, vol. 56(4), December 2017, pp. 304–327. (Toshihiro Matsumura and Akira Ogawa)
  • “Lobbying for Regulation Reform by Industry Leaders” Journal of Regulatory Economics, vol. 52(1), August 2017, pp. 63–76. (Toshihiro Matsumura and Atsushi Yamagishi)
  • “Ex-Ante versus Ex-Post Privatization Policies with Foreign Penetration in Free-Entry Mixed Markets” International Review of Economics & Finance, vol.50, July 2017, pp. 1-7. (Lili Xu, Sang-Ho Lee, and Toshihiro Matsumura)
  • “Privatization Neutrality Theorem in Free Entry Markets” B.E. Journal of Theoretical Economics, vol.17(2), June 2017. (Toshihiro Matsumura and Yasunori Okumura)
  • “Long-Run Welfare Effect of Energy Conservation Regulation” Economics Letters, vol. 154, May 2017, pp. 64-68. (Toshihiro Matsumura and Atsushi Yamagishi)
  • “Environmental corporate social responsibility : A note on the ​first-mover advantage under price competition” (co-authored with Kosuke Hirose and Sang-ho Lee) Economics Bulletin,vol.37(1), pp. 214-221, 2017.
  • “Corporate social responsibility and endogenous competition structure” (co-authored with Akira Ogawa) Economics Bulletin,vol.36(4), pp. 2117-2127, 2016.
  • “Payoff interdependence and the multi-store paradox” (co-authored with Kosuke Hirose) Asia-Pacific Journal of Accounting & Economics,vol. 23(3), pp. 256-267, 2016.
  • “Cournot-Bertrand Comparison in a Mixed Oligopoly” (co-authored with Junichi Haraguchi) Journal of Economics, 117(2), pp 117-136, 2016.
  • “Welfare-Improving Effect of a Small Number of Followers in a Stackelberg Model” (co-authored with Hiroaki Ino) B.E. Journal of Theoretical Economics, 16(1), pp. 243-265, 2016.
  • “Mixed Duopoly, Location Choice, and Shadow Cost of Public Funds” (co-authored with Yoshihiro Tomaru) Southern Economic Journal,82(2), pp. 416-429, 2015.
  • “Should Firms Employ Personalized Pricing?” (co-authored with Noriaki Matsushima) Journal of Economics and Management Strategy, 24(4). pp. 887-903, 2015.
  • “Competition and Privatization Policies Revisited: The Payoff Interdependence Approach” (co-authored with Makoto Okamura) Journal of Economics, 116(2), pp. 137-150, 2015.
  • “Optimal Privatization and Trade Policies with Endogenous Market Structure” (co-authored with Susumu Cato) Economic Record, 91(294), pp. 309-323, 2015.
  • “Endogenous Flexibility in Flexible Manufacturing System” (co-authored with Daisuke Shimizi) Bulletin of Economic Research, vol. 67(1), pp. 1-13, 2015.
  • “Price versus Quantity in a Mixed Duopoly with Foreign Penetration” (co-authored with Junich Haraguchi) Research in Economics, 68(4), pp. 338-353, 2014.
  • “Corporate Social Responsibility or Payoff Asymmetry?:A Study of Endogenous Timing Game” (co-authored with Akira Ogawa) Southern Economic Journal, 81(2), pp.457-473, 2014.
  • “Comparison between Specific Taxation and Volume Quotas in a Free Entry Cournot Oligopoly” (co-authored with Yasunori Okumura) Journal of Economics, 113(2), pp.125-132, 2014.
  • “Mixed Duopoly, Product Differentiation, and Competition” (co-authored with Minoru Kitahara) Manchester School, 81(5): pp.730-744, 2013.
  • “Long-Run Effects of Tax Policies in a Mixed Market” (co-authored with Susumu Cato) FinanzArchiv/Public Finance Analysis, 69: pp.215-240, 2013.
  • “Mixed Duopoly, Privatization, and Subsidization with Excess Burden of Taxation” (co-authored with Yoshihiro Tomaru) Canadian Journal of Economics, 46(2): pp.526-554, 2013.
  • “Advertising Competition in a Mixed Oligopoly” (co-authored with Takeaki Sunada) Economics Letters, 119(2): pp.183-185, 2013.
  • “Merger and Entry-License Tax” (co-authored with Susumu Cato) Economics Letters, 119(1): pp.11-13, 2013.
  • “Privatization Neutrality Theorem Revisited.” (co-authored with Yasunori Okumura), Economics Letters, 118(2): pp.324-326, 2013.
  • “Competitiveness and R&D Competition Revisited.” (co-authored with Susumu Cato and Noriaki Matsushima), Economic Modelling, 31(1): pp.541-547, 2013.
  • “Competitiveness and Stability of Collusive Behavior.” (co-authored with Noriaki Matsushima), Bulletin of Economic Research, 64(s1): pp.s22-s31, 2012.
  • “Market Structure and Privatization Policy under International Competition.” (co-authored with Yoshihiro Tomaru), Japanese Economic Review, 63(2): pp.244-258, 2012.
  • “Locating Outside a Linear City Can Benefit Consumers.” (co-authored with Noriaki Matsushima), Journal of Regional Science, 52(3): pp.420-432, 2012.
  • “Presence of Foreign Investors in Privatized Firms and Privatization Policy.” (co-authored with Ming Hsin Lin), Journal of Economics, 107(1): pp.71-80, 2012.
  • “Long-Run Effects of Foreign Penetration on Privatization Policies.” (co-authored with Susumu Cato), Journal of Institutional and Theoretical Economics, 168(3): pp.444-454, 2012.
  • “How Many Firms Should Be Leaders? Beneficial Concentration Revisited.” (co-authored with Hiroaki Ino), International Economic Review, 53(4): pp.1323-1340, 2012.
  • “Airport Privatization and International Competition.” (co-authored with Noriaki Matsushima), Japanese Economic Review, 63(4): pp.431-450, 2012.
  • “Price versus Quantity in a Mixed Duopoly.” (co-authored with Akira Ogawa), Economics Letters, 116(2): pp.174-177, 2012.
  • “Welfare Properties of Strategic R&D Investments in Hotelling Models.” (co-authored with Noriaki Matsushima), Economics Letters, 115(3): pp.465-468, 2012.
  • “Welfare Consequences of an Asymmetric Regulation in Mixed Bertrand Duopoly.”, Economics Letters, 115(1): pp.94-96, 2012.
  • “Spatial Cournot Competition and Transportation Costs in a Circular City.” (co-authored with Noriaki Matsushima), Annals of Regional Science, 48(1): pp.33-44, 2012.
  • “Price Leadership in a Homogeneous Product Market” (co-authored work with Daisuke Hirata), Journal of Economics, 104(3): pp.199-217, 2011.
  • “Market Competition, R&D and Firm Profits in Asymmetric Oligopoly” (co-authored with Junichiro Ishida and Noriaki Matsushima), Journal of Industrial Economics, 59(3): pp.484-505, 2011.
  • “Spatial Cournot Equilibria in a Quasi-Linear City” (co-authored with Takeshi Ebina and Daisuke Shimizu), Papers in Regional Science, 90(3): pp.613-628, 2011.
  • “Collusion, Agglomeration, and Heterogeneity of Firms” (co-authored with Noriaki Matsushima), Games and Economic Behavior, 72(1): pp.306-313, 2011.
  • “Randomized Strategy Equilibrium in the Action Commitment Game with Costs of Leading.”(co-authored with Takeshi Murooka and Akira Ogawa), Operations Research Letters, 39(2): pp.115-117, 2011.
  • “When Small Firms Fight Back against Large Firms in R&D Activities.” (co-authored with Noriaki Matsushima) B.E. Journal of Economic Analysis & Policy, 10(1)(Topics), Article 81, 2010.
  • “Profit-Enhancing Parallel Imports.” (co-authored with Noriaki Matsushima) Open Economic Review, 21(3), pp.433-447, 2010.
  • “What Role Should Public Enterprises Play in Free-Entry Markets?” (co-authored with Hiroaki Ino) Journal of Economics, 101(3): pp.213-230, 2010.
  • “Location Equilibrium with Asymmetric Firms: the Role of Licensing.” (co-authored with Noriaki Matsushima and Giorgos Stamatopoulos) Journal of Economics, 99(3): pp.267-277, 2010.
  • “On the Uniqueness of Bertrand Equilibrium.” (co-authored with Daisuke Hirata) Operations Research Letters, 38(6): pp.533-535, 2010.
  • “On the Robustness of Private Leadership in Mixed Duopoly.” (co-authored work with Akira Ogawa) Australian Economic Papers, 49(2): pp.149-160, 2010.
  • “Privatization Waves.” (co-authored with Daisuke Shimizu) Manchester School, 78(6): pp.609-625, 2010.
  • “Privatization and Entries of Foreign Enterprises in a Differentiated Industry” (co-authored with Noriaki Matsushima and Ikuo Ishibashi), Journal of Economics, 98(3): pp.203-291, 2009.
  • “Mixed Oligopoly and Spatial Agglomeration in Quasi-Linear City” (co-authored with Takeshi Abina and Daisuke Shimizu), Economics Bulletin, 29(4): pp.2722-2729, 2009.
  • “Payoff Dominance and Risk Dominance in the Observable Delay Game: A Note” (co-authored work with Akira Ogawa), Journal of Economics, 97(3): pp.265-272, 2009.
  • “Equilibrium Location and Economic Welfare in Delivered Pricing Oligopoly” (co-authored with Daisuke Shimizu), Economics Bulletin, 29(2): pp.761-769, 2009.
  • “Cost Differentials and Mixed Strategy Equilibria in a Hotelling Model.” (co-authored with Noriaki Matsushima) Annals of Regional Science, 43(1), pp.215-234, 2009.
  • “A Noncooperative Shipping Cournot Duopoly with Linear-Quadratic Transport Costs and Circular Space.” (co-authored with Daisuke Shimizu) Japanese Economic Review, 59(4), pp.498-518, 2008.
  • “Simultaneous Price Changes, Information Acquisition on Common Competitors, and Welfare.” (co-authored with Minoru Kitahara). Australian Economic Papers, 47(4), pp.389-395, 2008.
  • “Congestion-Reducing Investments and Economic Welfare in a Hotelling Model” (co-authored with Noriaki Matsushima), Economics Letters, 96: pp.161-167, 2007.
  • “Cournot and Bertrand in Shipping Models with Circular Markets” (co-authored with Daisuke Shimizu), Papers in Regional Science, 85(4): pp.585-598, 2006.
  • “Tax Effects in a Model of Product Differentiation: A Note” (co-authored with Minoru Kitahara), Journal of Economics, 89(1): pp.75-82, 2006.
  • “Realized Cost Based Subsidies for Strategic R&D Investments with Ex Ante and Ex Post Asymmetries” (co-authored with Minoru Kitahara), Japanese Economic Review, 57(3): pp.438-448, 2006.
  • “A Note on the Excess Entry Theorem in Spatial Markets” (co-authored with Makoto Okamura), International Journal of Industrial Organization, 24(5): pp.1071-1076, 2006.
  • “Mixed Oligopoly, Foreign Firms, and Location Choice” (co-authored with Noriaki Matsushima), Regional Science and Urban Economics, 36: pp.753-772, 2006.
  • “R&D Competition between Public and Private Sectors” (co-authored with Ikuo Ishibashi), European Economic Review, 50: pp.1347-1366, 2006.
  • “Economic Welfare in Delivered Pricing Duopoly: Bertrand and Cournot” (co-authored with Makoto Okamura), Economics Letters, 90: pp. 396-401, 2006.
  • “Spatial Cournot Competition and Economic Welfare: A Note.”(co-authored with Daisuke Shimizu), Regional Science and Urban Economics, 35(6): pp. 658-670, 2005.
  • “Competition-Accelerating Public Investments”, Australian Economic Papers, 44(3): pp. 269-274, 2005.
  • “Partial Agglomeration or Dispersion in Spatial Cournot Competition.” (co-authored with Takao Ohkawa and Daisuke Shimizu), Southern Economic Journal, 72(1): pp. 224-235, 2005.
  • “Cartel Stability in a Delivered Pricing Oligopoly” (co-authored with Noriaki Matsushima), Journal of Economics, 86(3): pp. 259-292, 2005.
  • “Economic Welfare in Delivered Pricing Duopoly: Bertrand and Cournot” (co-authored with Daisuke Shimizu), Economics Letters, 89(1): pp. 112-119, 2005.
  • “Mixed Oligopoly at Free Entry Markets”, (with Osamu Kanda) Journal of Economics (Zeitschrift für Nationalökonomie), 84(1): pp.27-48, 2005.
  • “Endogenous Cost Differentials between Public and Private Enterprises: A Mixed Duopoly Approach”, (with Noriaki Matsushima) Economica, 71(4): pp.671-688, 2004.
  • “Strategic Complementarity in Direct Investments”, Review of Development Economics, 8(4): pp.583-596, 2004.
  • “Consumer-benefiting Exclusive Territories”, Canadian Journal of Economics, 36(4): pp.1007-1025, 2003.
  • “Endogenous Role in Mixed Markets: A Two Production Period Model”, Southern Economic Journal, 70(2): pp.403-413, 2003.
  • “Equilibria for Circular Spatial Cournot Markets” (with Daisuke Shimizu), Economics Bulletin, 18(1): pp.1-9, 2003.
  • “Stackelberg Mixed Duopoly with a Foreign Competitor”, Bulletin of Economic Research, 55(3): pp.275-288, 2003.
  • “Strategic R&D Investments with Uncertainty”, Economics Bulletin, 12(1): pp.1-7, 2003.
  • “Mixed Oligopoly and Spatial Agglomeration”, (co-authored with Noriaki Matsushima) Canadian Journal of Economics vol. 36, 2003, pp.62-87.
  • “Mixed Duopoly with Product Differentiation: Sequential Choice of Location” (with Noriaki Matsushima), Australian Economic Papers, 42: pp.18-34, 2003.
  • “Market Instability in a Stackelberg Duopoly”, Journal of Economics (Zeitschrift für Nationalökonomie), 75: pp.199-210, 2002.
  • “Entry Regulation and Social Welfare with an Integer Problem”, Journal of Economics (Zeitschrift für Nationalökonomie), 71: pp.47-58, 2000.
  • “Cournot Duopoly with Multi-period Competition: Inventory as a Coordination Device”, Australian Economic Papers, 38: pp.189-202, 1999.
  • “Quantity-Setting Oligopoly with Endogenous Sequencing”, International Journal of Industrial Organization, 17: pp.289-296, 1999.
  • “Partial Privatization in Mixed Duopoly”, Journal of Public Economics, 70: pp.473-483, 1998.
  • “A Two-stage Price-setting Duopoly: Bertrand or Stackelberg”, Australian Economic Papers, 37: pp.103-118, 1998.
  • “How Many Firms Become Leaders?”, Australian Economic Papers, 36: pp.1-13, 1997.
  • “A Two-stage Cournot Duopoly with Inventory Costs”, Japanese Economic Review, 48(1): pp.81-89, 1997.
  • “Endogenous Timing in the Switching of Technology with Marshallian Externalities” (with Masako Ueda), Journal of Economics (Zeitschrift für Nationalökonomie), 63: pp.41-56, 1996.
  • “Endogenous Timing in Cournot Duopoly Games”, Proceedings of APORS'94: pp.235-242, 1995.
  • “Endogenous Timing in Multi-stage Duopoly Games”, Japanese Economic Review, 46(3): pp.257-265, 1995.
  • “Revelation of Private Information about Unpaid Notes in the Trade Credit Bill System in Japan” (co-authored with Marc Ryser), Journal of Legal Studies, 24(1): pp.165-187, January 1995.

Educational Activities

Graduate School of Economics,The University of Tokyo Oligopoly Theory
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