Research Associate

Professor, Faculty of Economics, Keio University

Activities at RIETI


Experimental Economics, Behavioral Economics, Business Economics, Public Economics, Applied Economics


2011 Ph.D. in Economics, Brown University
2007 M.A. in Economics, Brown University
2002 M.E. (Civil Engineering), University of Tokyo
2000 B.E. (Civil Engineering), University of Tokyo


2022 - present Professor, Faculty of Economics, Keio University
2019 - 2021 Director, Experimental Methods in Business Research Centre, Durham University
2017 - 2022 Associate Professor, Department of Economics and Finance, Durham University
2015 - 2016 Assistant Professor, Department of Economics and Finance, Durham University
2012 - 2014 Assistant Professor, Department of Economics, Bowling Green State University
2011 - 2012 Research Scholar, Department of Economics, Brown University
2011 Economist, Deloitte Tax LLP (US National Office)
2002 - 2008 Ministry of Economy, Trade and Industry

Selected Publications and Papers

  • "Free Riding and Workplace Democracy – Heterogeneous Task Preferences and Sorting” (with Thomas Markussen). Management Science (accepted in April 2022).
  • "Transfer Paradox in a General Equilibrium Economy: an Experimental Investigation." Economics Letters Volume 211, Article 110253 (February 2022).
  • "Observability of Partners’ Past Play and Cooperation: Experimental Evidence" (with Hajime Kobayashi and Tsz Kwan Tse). Economics Letters Volume 210, Article 110186 (January 2022).
  • "Incomplete Political Contracts with Secret Ballots: Reciprocity as a Force to Enforce Sustainable Clientelistic Relationships." The Journal of Law, Economics, & Organization Volume 37, pp. 392-439 (July 2021).
  • "Voluntary Disclosure of Information and Cooperation in Simultaneous-Move Economic Interactions." Journal of Economic Behavior & Organization Volume 171, pp. 234-246 (March 2020).
  • "The Democracy Effect: a weights-based identification strategy" (with Pedro Dal Bó and Andrew Foster). NBER Working Paper #25724.
  • "Cooperation and Endogenous Repetition in an Infinitely Repeated Social Dilemma." International Journal of Game Theory Volume 48, pp. 797-834 (September 2019).
  • "Power of Joint Decision-Making in a Finitely-Repeated Dilemma." Oxford Economic Papers Volume 71, pp. 600-622 (July 2019).
  • "The Role of Visibility on Third Party Punishment Actions for the Enforcement of Social Norms." Economics Letters Volume 171, pp. 193-197 (October 2018).
  • "Group Size Effect and Over-Punishment in the Case of Third Party Enforcement of Social Norms." Journal of Economic Behavior & Organization Volume 175, pp. 395-412 (July 2020).
  • "Disapproval Aversion or Inflated Inequity Acceptance? The Impact of Expressing Emotions in Ultimatum Bargaining" (with Josie I Chen). Experimental Economics Volume 21, pp. 836-857 (December 2018).
  • "Reputation Transmission without Benefit to the Reporter: a Behavioral Underpinning of Markets in Experimental Focus" (with Louis Putterman). Economic Inquiry Volume 56, pp. 158-172 (January 2018).
  • "Endogenous Reputation Formation under the Shadow of the Future." Journal of Economic Behavior & Organization Volume 142, pp. 189-204 (October 2017).
  • "Promoting Competition or Helping the Less Endowed? Distributional Preferences and Collective Institutional Choices under Intra-Group Inequality." Journal of Conflict Resolution Volume 62, pp. 626-655 (March 2018).
  • "Democracy and Resilient Pro-Social Behavioral Change: An Experimental Study." Social Choice and Welfare Volume 47, pp. 359–378 (August 2016).
  • "Punishment can Support Cooperation even when Punishable" (with Tinting Fu, Yunan Ji, Louis Putterman). Economics Letters Volume 154, pp. 84-87 (May 2017).
  • "In Broad Daylight: Fuller Information and Higher-order Punishment Opportunities Can Promote Cooperation" (with Louis Putterman). Journal of Economic Behavior & Organization Volume 120, pp. 145-159 (December 2015).
  • "Play it Again: Partner Choice, Reputation Building and Learning from Finitely-Repeated Dilemma Games" (with Louis Putterman). The Economic Journal Volume 127, pp. 1069-1095 (June 2017).
  • "Conditional Punishment." Economics Letters Volume 124, pp. 199-202 (August 2014).
  • "State or Nature? Endogenous Formal vs. Informal Sanctions in the Voluntary Provision of Public Goods" (with Louis Putterman and Jean-Robert Tyran). Experimental Economics Volume 18, pp. 38-65 (March 2015).
  • "From Locality to Continent: A Comment on the Generalization of an Experimental Study." Journal of Socio-Economics Volume 41, pp. 207-210 (April, 2012).
  • "Self-Regulatory Strength and Dynamic Optimal Purchase." Economics Letters Volume 115, pp. 452-454 (June 2012).
  • "Public Goods and Voting on Formal Sanction Schemes" (with Louis Putterman and Jean-Robert Tyran). Journal of Public Economics Volume 95, pp. 1213-1222 (October 2011).