Vita - Kajii, Atsushi

click here for Kajii's vita (available both in Japanese and English)

List of Papers

Published Papers

Forthcoming Papers

Working Papers pdf files

Institute of Policy and Planning Sciences Discussion Paper series pdf files

Unpublished version : You can find the version of papers which contain results and proofs not included in the published version

Research proposals

Abstracts for some papers

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Published Papers

• " Decentralizability of efficient allocations with heterogeneous forecasts" with Shurojit Chatterji, Journal of Economic Theory vol 207 (January 2023), article number 105592. doi.org/10.1016/j.jet.2022.105592 Working paper version: Working Papers on Central Bank Communication, 031, March 2021. (Older version: Working Papers on Central Bank Communication, 016, February 2020.
• "Efficiency, Quality of Forecasts and Radner Equilibria" with Shurojit Chatterji, Pure and Applied Functional Analysis, (2022) Volume 7, Number 6,pages 2029-2091. a special issue on Mathematical Economics dedicated to Professor Roy Radner. (working paper version: Working Papers on Central Bank Communication, 024, June 2020.
• "Refinements and higher- order beliefs: a unified survey" [with Stephen Morris] The Japanese Economic Review, 71(1), (January 2020) pages 7--34 (DOI: 10.1007/s42973-019-00006-x) open access paper available
• "Notes on "refinements and higher order beliefs" [with Stephen Morris] The Japanese Economic Review, 71(1), (January 2020) pages 35-41 (DOI: 10.1007/s42973-019-00007-w) open access paper available
• "Favorite-Longshot Bias in Parimutuel Betting: an Evolutionary Explanation" with Takahiro Watanabe. Journal of Economic Behavior and Organization 140, August 2017, Pages 56-69. (on line first on 4 May 2017). An earlier version was circulated as KIER working papers #907, December 2014.
• "Approximate Robustness of Equilibrium to Incomplete Information", with Ori Haimanko. International Journal of Game Theory, (November 2016) 45 (4), 839-857 (published online 11 August 2015, DOI 10.1007/s00182-015-0488-4). An earlier version is entitled "On Continuity of Robust Equilibria", KIER working paper #818, May 2012.
• "Constrained Inefficiency and Optimal Taxation with Uninsurable Risks", [with Piero Gottardi and Tomoyuki Nakajima], Journal of Public Economic Theory, (January 2016)18 (1), 1-28.
• "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation" [with Piero Gottardi and Tomoyuki Nakajima], American Economic Review, (Nov 2015) 105(11): 3443-70. DOI: 10.1257/aer.20110576.
• "A Generalized Representation Theorem for Harsanyi's (`Impartial') Observer" [with Simon Grant, Ben Polak and Zvi Safra], Social Choice and Welfare 39, No. 4, (2012) Pages 833-846, DOI 10.1007/s00355-011-0563-0
• "Equally-Distributed Equivalent Utility, Ex Post Egalitarianism and Utilitarianism" [with Simon Grant, Ben Polak and Zvi Safra], Journal of Economic Theory, Volume 147, issue 4 (July, 2012), 1545-1571. DOI: 10.1016/j.jet.2011.04.001 (available on line 2 April 2011)
• "The Myerson value for complete coalition structures" [with H. Kojima and T. Ui], Mathematical Methods of Operations Research vol. 74, 427-443 (November, 2011) DOI: 10.1007/s00186-011-0371-4.
• "Generalized Utilitarianism and Harsanyi's Impartial Observer Theorem" [with Simon Grant, Ben Polak and Zvi Safra], Econometrica, Vol. 78, No. 6 (November, 2010), 1939-1971.
• "Coextrema Additive Operators" with H. Kojima and T. Ui, Chapter 6 in S. K. Neogy, A. K. Das and R. B. Bapat (eds.), "Modeling, Computation and Optimization", Statistical Science and Interdisciplinary Research - Vol. 6, World Scientific, April 2009, 73-95.
• "Sunspot Equilibria in a Production Economy: Do Rational Animal Spirits Cause Overproduction?", The Japanese Economic Review, vol. 60, No. 1, (March 2009), 35-54.
• "Interim Efficient Allocations under Uncertainty" [with Takashi Ui], Journal of Economic Theory 144 no. 1, (January 2009) 337-353. (available on line 1 July 2008) (an earlier version was entitled "Trade with Heterogeneous Multiple Priors" CAEA Working Paper series No.096, Kyoto University, January 2006 ( pdf file )
• "Welfare gains and losses in sunspot equilibria'', Japanese Economic Review vol. 58, No.3., September 2007, 329-344.
• "Local Sunspot Equilibria Reconsidered", Economic Theory 31, no. 3, (2007), 401-425. (published On line July 2006) [with Julio Davila and Piero Gottardi]
• "The epsilon-Gini-contamination multiple priors model admits a linear- mean- standard- deviation utility representation", [with Simon Grant] Economics Letters vol 95, no. 1, (April 2007), 39-47.
• "Cominimum Additive Operators", with Hiroyuki Kojima and Takashi Ui, Journal of Mathematical Economics 43, (February 2007), 218-230.
• "Risk-Free Bond Prices in Incomplete Markets with Recursive Utility Functions and Multiple Beliefs", with Chiaki Hara, International Journal of Economic Theory 2 (June 2006) 135-57.
• "Agreeable Bets with Multiple Priors", Journal of Economic Theory 128 (May 2006), 299-305. [with Takashi Ui]
• "Auctions with Options for Re-auction", the International Journal of Economic Theory 2 (March 2006) 17-39. [with Simon Grant, Flavio Menezes, Matthew Ryan] (An earlier version is available here)
• "Equivalence of the Dempster-Shafer rule and the maximum likelihood rule implies convexity," Economics Bulletin, Vol. 4, No. 10 pages 1-6. (September 2005) [with Takashi Ui]
• "Incomplete Information Games with Multiple Priors", Japanese Economic Review, (Vol. 56, No. 3, September 2005) pages 332-351 [with Takashi Ui]
• "A note on the regularity of competitive equilibria and asset structures," Journal of Mathematical Economics (Volume 39, Issue 7, September 2003) Pages 763-776 [with Piero Gottardi]
• "Corrigendum to gBargaining and Boldness,"h with Albert Burgos and Simon Grant. Games and Economic Behavior 41, (October 2002) 165-168.
• "Bargaining and Boldness," with Albert Burgos and Simon Grant. Games and Economic Behavior 38, (January 2002) 28-51. There is an error . See above.
• "Third down with a yard to go": recursive expected utility and the Dixit-Skeath conundrum," with Simon Grant and Ben Polak, Economics Letters , 73, (December 2001) pp. 275-286.
• "Different Notions of Disappointment Aversion," with Simon Grant and Ben Polak, Economics Letters, 70, (February 2001), 203-208
• "Decomposable Choice under Uncertainty," with Simon Grant and Ben Polak. Journal of Economic Theory, 92, (June 2000), 169-197.
• "Preference for Information and Dynamic Consistency," with Simon Grant and Ben Polak. Theory and Decision. Volume 48, issue 3 (May 2000) pages 263-286. (abstract)
• "Temporal Resolution of Uncertainty and Recursive Non-Expected Utility Models," with Simon Grant and Ben Polak. Econometrica, 68, (March 2000), 425-434. (abstract) . See also a working paper version (pdf file) which contains some extensions and proofs which are not contained in the published version.
• "The Structure of Sunspot Equilibria: the Role of Multiplicity,'' with Piero Gottardi. Review of Economic Studies, 66 (July 1999), 713-732. (abstract)  
• "Intrinsic Preference for information," with Simon Grant and Ben Polak,Journal of Economic Theory, (December 1998), 83, 233-259. (abstract)
• "AUSI Expected Utility; an Anticipated Utility Theory of Relative Disappointment Aversion,'' with Simon Grant. Journal of Economic Behavior and Organization, 37, (November 1998), 277-290. (abstract)
• "Payoff Continuity in Incomplete Information Games,'' with Stephen Morris , Journal of Economic Theory 82, (September 1998), 267-276.@
• "Constrained Suboptimality in Incomplete Markets: A General Approach and Two Applications,'' with Alessandro Citanna and Antonio Villanacci. Economic Theory 11, (May 1998), 495-522.
• "Sunspots and the Sequential Regularity of Competitive Equilibria,'' Journal of Economic Theory 78, (January 1998), 187-194. (abstract)
• "The Robustness of Equilibria to Incomplete Information,'' with Stephen Morris . Econometrica 65C(1997), 1283-1309.(abstract)
• "On the Role of Options in Sunspot Equilibria,'' Econometrica 65, (1997), 977-986. (abstract)
• "Common p-Belief: the General Case,'' with Stephen Morris . Games and Economic Behavior 18, (1997), 73-82.
• "How to Discard Non-Satiation and Free Disposal with Paper Money.'' Journal of Mathematical Economics 25, (1996), 75-84.
• "A Cardinal Characterization of the Rubinstein-Safra-Thomson Axiomatic Bargaining Theory,'' with Simon Grant, Econometrica 63, (1995), 1241-1249.
• "Anonymity and Optimality of Competitive Equilibria When Markets are Incomplete,'' Journal of Economic Theory 64, (1994), 115-129.
• "On Incentive Compatibility and Constrained Optimality of Incomplete Market Equilibria,'' Hitotsubashi Journal of Economics 34, (1993), 123-135.
• "Many Good Risks: An Interpretation of Multivariate Risk and Risk Aversion without the Independence Axiom," with Simon Grant and Ben Polak, Journal of Economic Theory 56, (1992), 338-351.
• "Many Good Choice Axioms: When can Many-Good Lotteries be Treated as Money Lotteries ?,'' with Simon Grant and Ben Polak, Journal of Economic Theory 56, (1992), 313-337.
• "A Generalization of Scarf's Theorem: an alpha -Core Existence Theorem without Transitivity or Completeness,'' Journal of Economic Theory 56, (1992), 194-205.
• "Note on Equilibria Without Ordered Preferences in Topological Vector Spaces,'' Economics Letters 27, (1988), 1-4.
• "A General Equilibrium Model With Fuzzy Preferences,'' Fuzzy Sets and Systems 26, (1988), 131-133.

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Forthcoming papers

UNPUBLISHED WORKING PAPERS

• "Rich by Accident: the Second Welfare Theorem with a Redundant Asset Under Imperfect Foresight" with Shurojit Chatterji, Working Papers on Central Bank Communication, 048, January 2024.
• "On the Welfare Role of Redundant Assets with Heterogeneous Forecasts" with Shurojit Chatterji, Working Papers on Central Bank Communication, 046, March 2023.
• "Notes on 'Refinements and Higher Order Beliefs'" with Stephen Morris, KIER discussion papers No.1007, March 2019
• "Intertemporal efficiency does not imply a common price forecast" with Shurojit Chatterji and Huaxia Zeng, KIER discussion papers No.999, August 2018
• "Intertemporal efficiency does not imply a common price forecast: a leading example" with Shurojit Chatterji and Huaxia Zeng, KIER discussion papers No.992, May 2018
• "Precautionary saving with changing income ambiguity" with Jingyi Xue. KIER discussion papers #940, May 2016.
• "Optimal taxation and constrained inefficiency in an infinite- horizon economy with incomplete markets" KIER working paper #745 December 2010 (earlier version of "Optimal Taxation and Debt with Uninsurable Risks to Human Capital Accumulation" American Economic Review, (Nov 2015)
• "Generalized Utilitarianism and Harsanyi's Impartial Observer Theorem", with S. Grant, B. Polak, and Z. Safra. Cowles Foundation Discussion Paper No. 1578. Available at SSRN
• "Probabilistically Sophisticated Multiple Priors", with Simon Grant. (pdf file)KIER working paper #608 October 2005
• "Dempster-Shafer updating and additivity of the core", with Takashi Ui. In "Kokyuroku" series 1371, RESEARCH INSTITUTE FOR MATHEMATICAL SCIENCES (RIMS), Kyoto University. ( pdf file)
• "On the Range of the Risk-Free Interest Rate in Incomplete Markets" with Chiaki Hara, 2001. Updated November 2003. ( pdf file ); KIER Working Paper 577, Kyoto University November 2003
• "Accidents of Birth, Life Chances, and the Impartial Observer ," with Simon Grant and Ben Polak., ISER Discussion Paper 582 ( pdf file )
• "Intrinsic Preference for information," with Simon Grant and Ben Polak. Australian National University, Department of Economics working paper no. 323. (abstract)
• "Refinements and Higher Order Beliefs: A Unified Survey," with Stephen Morris . mimeo.1997 (abstract) (pdf file) (dvi file) A copy is also available here
• "Rubinstein's Similarity Consistent Preferences: A Complete Characterization,'' RSSS discussion paper, The Australian National University, 1996.(abstract) (pdf file)
• "Bargaining, Boldness and Nash Outcomes,'' with Simon Grant, 1994, The Australian National University.(abstract) (pdf file)
• "Constrained Suboptimality with Many Agents,'' CARESS Working Paper #92-29, 1992, University of Pennsylvania.
• "Large Random Economies,'' CARESS Working Paper series #91-22, 1991, University of Pennsylvania.
• "On The Role of Paper Money in General Equilibrium Models with Incomplete Markets,'' CARESS Working Paper series #91-23, 1991, University of Pennsylvania.
• "Melioration: An Economic Approach,'' with Simon Grant, 1989.

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Institute of Policy and Planning Sciences Discussion Paper series

@

• No. 761 "Weakening the Sure-Thing Principle: Decomposable Choice under Uncertainty," with Simon Grant and Ben Polak. October 1997. (abstract)
• No. 803 "Decomposable Choice under Uncertainty," with Simon Grant and Ben Polak. December 1998. 
• No. 804 "On the Skiadas "Conditional Preference Approach'' to Choice Under Uncertainty," with Simon Grant and Ben Polak. December 1998. 

Unpublished Version

"Temporal Resolution of Uncertainty and Recursive Non-Expected Utility Models," with Simon Grant and Ben Polak. WORKING PAPER VERSION. This version contains a many period version of preference for early resolution model. (pdf file) , (try this if fonts do not appear correctly - pdf file)

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Research Proposals