[1] Hokkaido Univ, Grad Sch Econ & Business, Sapporo, Hokkaido, Japan
[2] Doshisha Univ, Business Sch, Kyoto, Japan
[3] Columbia Univ, Dept Econ, New York, NY USA
[4] Columbia Business Sch, New York, NY USA
[5] Waseda Univ, Fac Educ & Integrated Arts & Sci, Tokyo, Japan
[6] Waseda Univ, Fac Polit Sci & Econ, Tokyo, Japan