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- MATSUMURA, Toshihiro
Research Staff
MATSUMURA, Toshihiro
Division | Department of Comparative Contemporary Economics |
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Research Fields | Industrial Organization, Public Economics, Energy and Environmemtal Economics, Regional Science |
matsumuriss.u-tokyo.ac.jp |
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Teaching and Research Appointments
April 1994 − March 1996 | Research Associate, Institute of Social and Economic Research, Osaka University |
April 1996 − March 1999 | Associate Professor, Department of Social Engineering, Tokyo Institute of Technology |
April 1999 − March 2008 | Associate Professor, Institute of Social Science, The University of Tokyo |
April 2008 − | Professor, Institute of Social Science, The University of Tokyo |
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
- “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.
- “Endogenous Timing in Multi-stage Duopoly Games”, Japanese Economic Review, 46(3): pp.257-265, 1995.
- “Endogenous Timing in Cournot Duopoly Games”, Proceedings of APORS'94: pp.235-242, 1995.
- “Endogenous Timing in the Switching of Technology with Marshallian Externalities” (with Masako Ueda), Journal of Economics (Zeitschrift für Nationalökonomie), 63: pp.41-56, 1996.
- “A Two-stage Cournot Duopoly with Inventory Costs”, Japanese Economic Review, 48(1): pp.81-89, 1997.
- “How Many Firms Become Leaders?”, Australian Economic Papers, 36: pp.1-13, 1997.
- “A Two-stage Price-setting Duopoly: Bertrand or Stackelberg”, Australian Economic Papers, 37: pp.103-118, 1998.
- “Partial Privatization in Mixed Duopoly”, Journal of Public Economics, 70: pp.473-483, 1998.
- “Quantity-Setting Oligopoly with Endogenous Sequencing”, International Journal of Industrial Organization, 17: pp.289-296, 1999.
- “Cournot Duopoly with Multi-period Competition: Inventory as a Coordination Device”, Australian Economic Papers, 38: pp.189-202, 1999.
- “Entry Regulation and Social Welfare with an Integer Problem”, Journal of Economics (Zeitschrift für Nationalökonomie), 71: pp.47-58, 2000.
- “Market Instability in a Stackelberg Duopoly”, Journal of Economics (Zeitschrift für Nationalökonomie), 75: pp.199-210, 2002.
- “Mixed Duopoly with Product Differentiation: Sequential Choice of Location” (with Noriaki Matsushima), Australian Economic Papers, 42: pp.18-34, 2003.
- “Mixed Oligopoly and Spatial Agglomeration”, (co-authored with Noriaki Matsushima) Canadian Journal of Economics vol. 36, 2003, pp.62-87.
- “Strategic R&D Investments with Uncertainty”, Economics Bulletin, 12(1): pp.1-7, 2003.
- “Stackelberg Mixed Duopoly with a Foreign Competitor”, Bulletin of Economic Research, 55(3): pp.275-288, 2003.
- “Equilibria for Circular Spatial Cournot Markets” (with Daisuke Shimizu), Economics Bulletin, 18(1): pp.1-9, 2003.
- “Endogenous Role in Mixed Markets: A Two Production Period Model”, Southern Economic Journal, 70(2): pp.403-413, 2003.
- “Consumer-benefiting Exclusive Territories”, Canadian Journal of Economics, 36(4): pp.1007-1025, 2003.
- “Strategic Complementarity in Direct Investments”, Review of Development Economics, 8(4): pp.583-596, 2004.
- “Endogenous Cost Differentials between Public and Private Enterprises: A Mixed Duopoly Approach”, (with Noriaki Matsushima) Economica, 71(4): pp.671-688, 2004.
- “Mixed Oligopoly at Free Entry Markets”, (with Osamu Kanda) Journal of Economics (Zeitschrift für Nationalökonomie), 84(1): pp.27-48, 2005.
- “Economic Welfare in Delivered Pricing Duopoly: Bertrand and Cournot” (co-authored with Daisuke Shimizu), Economics Letters, 89(1): pp. 112-119, 2005.
- “Cartel Stability in a Delivered Pricing Oligopoly” (co-authored with Noriaki Matsushima), Journal of Economics, 86(3): pp. 259-292, 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.
- “Competition-Accelerating Public Investments”, Australian Economic Papers, 44(3): pp. 269-274, 2005.
- “Spatial Cournot Competition and Economic Welfare: A Note.”(co-authored with Daisuke Shimizu), Regional Science and Urban Economics, 35(6): pp. 658-670, 2005.
- “Economic Welfare in Delivered Pricing Duopoly: Bertrand and Cournot” (co-authored with Makoto Okamura), Economics Letters, 90: pp. 396-401, 2006.
- “R&D Competition between Public and Private Sectors” (co-authored with Ikuo Ishibashi), European Economic Review, 50: pp.1347-1366, 2006.
- “Mixed Oligopoly, Foreign Firms, and Location Choice” (co-authored with Noriaki Matsushima), Regional Science and Urban Economics, 36: pp.753-772, 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.
- “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.
- “Tax Effects in a Model of Product Differentiation: A Note” (co-authored with Minoru Kitahara), Journal of Economics, 89(1): pp.75-82, 2006.
- “Cournot and Bertrand in Shipping Models with Circular Markets” (co-authored with Daisuke Shimizu), Papers in Regional Science, 85(4): pp.585-598, 2006.
- “Congestion-Reducing Investments and Economic Welfare in a Hotelling Model” (co-authored with Noriaki Matsushima), Economics Letters, 96: pp.161-167, 2007.
- “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.
- “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.
- “Equilibrium Location and Economic Welfare in Delivered Pricing Oligopoly” (co-authored with Daisuke Shimizu), Economics Bulletin, 29(2): pp.761-769, 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.
- “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.
- “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.
- “Privatization Waves.” (co-authored with Daisuke Shimizu) Manchester School, 78(6): pp.609-625, 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.
- “On the Uniqueness of Bertrand Equilibrium.” (co-authored with Daisuke Hirata) Operations Research Letters, 38(6): pp.533-535, 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.
- “What Role Should Public Enterprises Play in Free-Entry Markets?” (co-authored with Hiroaki Ino) Journal of Economics, 101(3): pp.213-230, 2010.
- “Profit-Enhancing Parallel Imports.” (co-authored with Noriaki Matsushima) Open Economic Review, 21(3), pp.433-447, 2010.
- “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.
- “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.
- “Collusion, Agglomeration, and Heterogeneity of Firms” (co-authored with Noriaki Matsushima), Games and Economic Behavior, 72(1): pp.306-313, 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.
- “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.
- “Price Leadership in a Homogeneous Product Market” (co-authored work with Daisuke Hirata), Journal of Economics, 104(3): pp.199-217, 2011.
- “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.
- “Welfare Consequences of an Asymmetric Regulation in Mixed Bertrand Duopoly.”, Economics Letters, 115(1): pp.94-96, 2012.
- “Welfare Properties of Strategic R&D Investments in Hotelling Models.” (co-authored with Noriaki Matsushima), Economics Letters, 115(3): pp.465-468, 2012.
- “Price versus Quantity in a Mixed Duopoly.” (co-authored with Akira Ogawa), Economics Letters, 116(2): pp.174-177, 2012.
- “Airport Privatization and International Competition.” (co-authored with Noriaki Matsushima), Japanese Economic Review, 63(4): pp.431-450, 2012.
- “How Many Firms Should Be Leaders? Beneficial Concentration Revisited.” (co-authored with Hiroaki Ino), International Economic Review, 53(4): pp.1323-1340, 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.
- “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.
- “Locating Outside a Linear City Can Benefit Consumers.” (co-authored with Noriaki Matsushima), Journal of Regional Science, 52(3): pp.420-432, 2012.
- “Market Structure and Privatization Policy under International Competition.” (co-authored with Yoshihiro Tomaru), Japanese Economic Review, 63(2): pp.244-258, 2012.
- “Competitiveness and Stability of Collusive Behavior.” (co-authored with Noriaki Matsushima), Bulletin of Economic Research, 64(s1): pp.s22-s31, 2012.
- “Competitiveness and R&D Competition Revisited.” (co-authored with Susumu Cato and Noriaki Matsushima), Economic Modelling, 31(1): pp.541-547, 2013.
- “Privatization Neutrality Theorem Revisited.” (co-authored with Yasunori Okumura), Economics Letters, 118(2): pp.324-326, 2013.
- “Merger and Entry-License Tax” (co-authored with Susumu Cato) Economics Letters, 119(1): pp.11-13, 2013.
- “Advertising Competition in a Mixed Oligopoly” (co-authored with Takeaki Sunada) Economics Letters, 119(2): pp.183-185, 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.
- “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, Product Differentiation, and Competition” (co-authored with Minoru Kitahara) Manchester School, 81(5): pp.730-744, 2013.
- “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.
- “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.
- “Price versus Quantity in a Mixed Duopoly with Foreign Penetration” (co-authored with Junich Haraguchi) Research in Economics, 68(4), pp. 338-353, 2014.
- “Endogenous Flexibility in Flexible Manufacturing System” (co-authored with Daisuke Shimizi) Bulletin of Economic Research, vol. 67(1), pp. 1-13, 2015.
- “Optimal Privatization and Trade Policies with Endogenous Market Structure” (co-authored with Susumu Cato) Economic Record, 91(294), pp. 309-323, 2015.
- “Competition and Privatization Policies Revisited: The Payoff Interdependence Approach” (co-authored with Makoto Okamura) Journal of Economics, 116(2), pp. 137-150, 2015.
- “Should Firms Employ Personalized Pricing?” (co-authored with Noriaki Matsushima) Journal of Economics and Management Strategy, 24(4). pp. 887-903, 2015.
- “Mixed Duopoly, Location Choice, and Shadow Cost of Public Funds” (co-authored with Yoshihiro Tomaru) Southern Economic Journal,82(2), pp. 416-429, 2015.
- “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.
- “Cournot-Bertrand Comparison in a Mixed Oligopoly” (co-authored with Junichi Haraguchi) Journal of Economics, 117(2), pp 117-136, 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.
- “Corporate social responsibility and endogenous competition structure” (co-authored with Akira Ogawa) Economics Bulletin,vol.36(4), pp. 2117-2127, 2016.
- “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.
- “Long-Run Welfare Effect of Energy Conservation Regulation” Economics Letters, vol. 154, May 2017, pp. 64-68. (Toshihiro Matsumura and Atsushi Yamagishi)
- “Privatization Neutrality Theorem in Free Entry Markets” B.E. Journal of Theoretical Economics, vol.17(2), June 2017. (Toshihiro Matsumura and Yasunori Okumura)
- “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)
- “Lobbying for Regulation Reform by Industry Leaders” Journal of Regulatory Economics, vol. 52(1), August 2017, pp. 63–76. (Toshihiro Matsumura and Atsushi Yamagishi)
- “Endogenous Timing in Mixed Duopolies With Externality” Australian Economic Papers, vol. 56(4), December 2017, pp. 304–327. (Toshihiro Matsumura and Akira Ogawa)
- “Inefficient but Robust Public Leadership” Journal of Industry, Competition and Trade, vol. 17(4), December 2017, pp. 387–398. (Toshihiro Matsumura and Akira Ogawa)
- “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)
- “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)
- “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)
- “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)
- “Government-Leading Welfare-Improving Collusion.”International Review of Economics and Finance, vol. 56, 2018, pp. 363-370.(Junichi Haraguchi 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)
- “Dynamic Privatization Policy.” Manchester School, vol. 87(1), 2019, pp. 37-59. (Susumu Sato and Toshihiro Matsumura)
- “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)
- “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)
- “A Comparison between Emission Intensity and Emission Cap Regulations.” Energy Policy, vol 137, 111115, February 2020.(Kosuke Hirose, 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)
- “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)
- “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)
- “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)
- “Free Entry under Common Ownership.” Economics Letters, vol. 195, 109489, October 2020. (Susumu Sato 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)
- “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)
- “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)
- “Profit-enhancing entries in mixed oligopolies.” Southern Economic Journal,vol. 88(1),pp. 33-55,July 2021.(Junichi Haraguchi and Toshihiro Matsumura)
- “Free Entry under an Output-Cap Constraint.” Economics Letters,vol.210,110192,January 2022.(Hiroaki Ino and Toshihiro Matsumura)
- “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)
- “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)
- “Welfare-reducing price competition under relative performance delegation with convex costs”, Economic Modelling, vol. 112, 105871, July 2022 (co-authored with Lili Xu)
- “Common ownership and environmental corporate social responsibility”, Energy Economics, vol. 114, 106269, October 2022 (co-authored with Kosuke Hirose)
- 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 in a delivered pricing duopoly,Journal of Economics vol. 139(3), 191-208, August 2023 (co-authored with Nuowen Bai).
- Green transformation in oligopoly markets under common ownership, Energy Economics vol. 126, 106892 October 2023 (co-authored with Kosuke Hirose).
Educational Activities
Graduate School of Economics,The University of Tokyo | Oligopoly Theory |