Dr. Koji Ishibashi
Department of Economics,
Dear Professor Ishibashi,
I am writing this letter to explain my motivation in attending Keio University and study focusing on micro economics . It would be greatly appreciated if you could give this a thought.
Introduction – Japan fortunately still ranks within top 5 countries with biggest economy, thanks to a number of exportable industries and competitive private firms. I was always under the impression nation-owned businesses only exist in communist countries or within public sectors such as postal, medical, educational and governmental services. This seems to be the case for many developed countries since private firms produce cutting-edge better quality products, however, in case there are too few of them, it changes the dynamics. What happens in oligopoly market structure in terms of quality control and welfare?
Argument – Since wartime, Japan became a subject of many economic studies outside, and it was made obvious that we have had zaibatsu system which created monopoly and oligopoly in every sector. How did it change over time and has it shifted to a point consumers are enjoying optimal price and products are beating international competition?
Methodology – Pick a few industries of focus and research whether relevant market structure is driving creativity and offering products at optimal price.
Findings – In tel-communication and electronics industries, there seems be domination among few private firms over the last decades. In this scenario, big corporations are so prominent, it lost its edge and creativity enough to hustle with international competitors, due to the fact they started focusing on welfare just like nation-owned. Although, prices are kept at optimal range thanks to fair amount of domestic competition. On the contrary, in countries with thriving competitors such as China and Korea, with the security businesses are partially nation-owned or strongly backed up, it has been able to focus on manufacturing competitive products to take over international market share.
Summary – Researching a relation between pricing and quality vs market structure is very important in order to provide insights as to what decision makers should keep in mind. I would be delighted to join your seminar and study more in depth. I very much look forward to hearing from you on this matter.
Thank you and Best Regards,
*Labor Efforts, Interpersonal Comparisons of Utility and Optimal Taxation 石橋 孝次, Japanese Economic Review 61 （ 4 ） 488-506 2010年12月 *Partial Privatization in Mixed Duopoly with Price and Quality Competition, 石橋 孝次, Journal of Economics 95 （ 3 ） 213-231 2008年12月