Mikio Hanaeda

The Price of a Harbour Liability Design when Duty and Shame Share a Lever

A safe harbour caps the blame a monitor bears, and the internal-adjudicator companion (companion working paper, 2026) showed that this cap and a monitor’s cultivated duty are the two ends of a single lever on the blame share that drives strategic inattention. That analysis took t...

The Riskless Corner: Why Prudence Cannot Pay for Vigilance

An auditing programme that models recurring internal-control failures as a no-collusion equilibrium has, until now, priced the monitor’s incentives as if he were risk-neutral — and one of its quietest results depended on it: the precision with which a court adjudicates a failure...

The Cascade of Inattention: Observability and Responsibility in Vertical Hierarchies

A companion working paper—the Equilibrium Without Collusion model (hereafter ewc; SSRN working paper, 2026)—showed that recurring control deficiencies can be an equilibrium without collusion: when a core auditor’s observability of a specialist’s work is low, declining to understa...

One Adjudicator, Many Substrates: A Negligence Microfoundation of the Reach-Contingent Blame Dierential

Across a sequence of models of oversight — a vertical cascade, an observation portfolio, a dynamic rotation process — the blame a monitor bears for a surfaced failure rises with his own observability, a reach-contingent differential that drives strategic inattention, low-observab...

The Erosion of Conscience Institutions as Metastable Equilibria over an Endogenous Type-Mix

A companion paper shows that professional duty dismantles the strategic-inattention trap of an oversight model, taking a monitor’s conscience as given. This paper endogenizes it and asks whether the institution that runs on conscience tends to keep it. It does not. Careers are se...