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Lee, Sang-Ho and Matsumura, Toshihiro and Sato, Susumu (2017): An Analysis of Entry-then-Privatization Model: Welfare and Policy Implications.

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Masuda, Taku and Sato, Susumu (2017): Partial Privatization under Multimarket Price Competition.

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Sato, Susumu and Matsumura, Toshihiro (2017): Dynamic privatization policy.

Sato, Susumu and Matsumura, Toshihiro (2017): Shadow Cost of Public Funds and Privatization Policies.

Sato, Susumu and Matsumura, Toshihiro (2018): Flexible Privatization Policy in Free-Entry Markets.

Sato, Susumu and Matsumura, Toshihiro (2019): Free Entry under Common Ownership.