WIAS Seminar Series
“Interdisciplinary Empirical Research on Economy, Technology, and Society under Planetary Constraints” WIAS RIEEM Seminar (6/10)
Abstract
①“Empirical Analyses of Firms’ Strategic Decisions: Durability and Electricity Markets”
Takeshi FUKASAWA (Assistant Professor, WIAS, Waseda University)
Abstract:
Firms’ strategies, such as pricing and product introduction decisions, affect both economic activity and the environment. In this sense, a deeper understanding of firms’ strategic behavior is essential for designing effective environmental policies. This presentation introduces two empirical studies on durability and electricity markets, building on and extending empirical methods developed in the Industrial Organization literature in economics.
The first study investigates firms’ incentives to sell high-durability products and the associated welfare implications. While higher durability may reduce future replacement demand and firms’ profits, it has recently attracted increasing attention from the perspective of the circular economy. The study develops a dynamic structural model of forward-looking firms and consumers to provide an empirical framework for analyzing durability choices and their welfare implications, using the light bulb market as an empirical application.
The second study examines the strategic behavior of power generating firms in wholesale electricity markets, particularly in relation to fuel prices and market power. The study develops a novel identification and estimation method for thermal power plants’ marginal costs and markups without imposing assumptions on firms’ exercise of market power. The empirical analysis finds evidence of non-negligible markups and incomplete, firm-specific pass-through of LNG fuel prices into marginal costs. The firm-specific nature of fuel price pass-through suggests incomplete arbitrage in fuel transactions, and the study further discusses its potential causes and consequences, including inefficient operation of thermal generation units.
② “TBA”
Dr. Milan Scasny (Charles University, Prague)
Program
Moderator
Yasushi Kondo (Professor, Waseda University)
① “Empirical Analyses of Firms’ Strategic Decisions: Durability and Electricity Markets”
Takeshi FUKASAWA (Waseda University WIAS, Assistant Professor)
② “TBA”
Dr. Milan Scasny (Charles University, Prague)
Speakers
Takeshi FUKASAWA (Assistant Professor, WIAS, Waseda University)
Takeshi Fukasawa is an Assistant Professor at the Waseda Institute for Advanced Study (WIAS), Waseda University. He earned his Bachelor of Science in 2019 and a Ph.D. in Economics in 2024, both from the University of Tokyo. His research focuses on industrial organization and related fields, with particular interests in durability, energy efficiency, and dynamic demand. He also studies computationally efficient numerical methods for solving models and estimating parameters.
Dr. Milan Scasny (Charles University, Prague)
Senior Research Fellow & Head of Environmental Economics & Sociology Group, Charles University Environment Center / Lecturer, Charles University, Institute of Economic Studies at Faculty of Social Sciences / Researcher, University of Warsaw, Faculty of Economic Sciences, Warsaw, Poland
Date & Time
June 10, 2026 (Wed.) 17:00 – 19:00
Venue
Room 210, 2nd Floor, Building 3, Waseda Campus, Waseda University
Prospected Audience
Students, Graduate students, Faculty members, Research members, General participants
Language
English
Organizer
Waseda Institute for Advanced Studies (WIAS)
Co-Organizer
Research Institute for Environmental Economics and Management
WINPEC (Waseda Institute of Political Economy) Economics of CCS
Registration
Pre-registration is required：Please register via the link below.
