|February 17, 2012
Refreshment room, The 8th floor, Main bldg of Econ.
Geum Soo Kim
"The Evolution of Citizen Participation and Regulatory Success"
(with Akao, K.)
In an evolutionary game framework it is shown that a full compliance
with an environmental regulation can be evolved as an asymptotically
stable state, but this critically depends on the size of a defector's
additional payoff at no private monitoring to a cooperator's payoff,
relative to his expected fine from an enforcer's monitoring. When the
regulatory agency introduces the report-reward system to pay report
prizes to citizens and reduce its monitoring activity level
simultaneously, citizens' participation is important. We have shown
that with some parameter values an initial state can be led into
perfect compliance, or otherwise it should have led into perfect
Keywords: Regulation, Monitoring, Citizen Participation, Social
Capital, Evolutionary Game
"On the critical capital stock in a continuous time aggregate
growth model with a nonconcave production function"
(with Kamihigashi, T. and Nishimura, K.)
An intrinsic feature of a nonconcave optimal growth model is the
critical capital stock such that any optimal capital path from an
initial stock below this critical stock converges to zero, and any
optimal capital path from an initial capital stock above this critical
stock converges to a nonzero steady state. Generically, the critical
capital stock is not an optimal steady state and the existence depends
on the value of the discount rate. For a continuous time aggregate
growth model, we show that: (a) the critical capital stock is a
continuous function of the discount rate, (b) it strictly increases
from zero as the discount rate increases from the level of the
marginal productivity at the zero stock level, (c) the upper limit of
the critical capital stock lies between the stock level at which the
marginal productivity is maximized and the stock level at which the
average productivity is maximized, and (d) at the upper limit, the
critical capital stock merges with an interior optimal steady state,
and with greater discount rates, the steady state is not optimal or
does not exist.
Keywords: Aggregate growth model, convex--concave production function,
critical capital stock
|This seminar is designed to facilitate the exchange of ideas among environmental and resource economists about the recent development in this exciting field.
Experts from a wide variety of topics are invited to speak.
Anyone interested is welcome to attend.
We are always looking for future speakers!
Please email us if you are interested in sharing your knowledge with us.
Coordinator: Hiroaki Sakamoto
Supervisor: Prof. Kazuhiro Ueta (Graduate School of Economics)