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Information, Incentives and Bargaining in the Japanese Economy

A Microtheory of the Japanese Economy

Information, Incentives and Bargaining in the Japanese Economy by Masahiko Aoki
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This book is not another parable of Japan's economic success; it provides rich and systematic descriptions of Japanese microeconomic institutions and interprets their work in terms familiar to Western economists. A systematic, in-depth analysis of Japanese institutions of this kind has never been available before. In making his comparative analysis of the Japanese system, Professor Aoki critically examines conventional notions about the microstructure of the market economy that have strongly shaped and influenced economists' approach to industrial organization (e.g., hierarchy as the alternative to the market, the firm as a propery of the stockholders, and market-oriented incentive contracts). While these notions may constitute an appropriate foundation for the analysis of the highly market-oriented Western economies, the author has found that a more complete understanding of the Japanese economy requires us to broaden such 'specific' notions. At one level, therefore, this book may be regarded as a provocative exercise in comparative industrial organization and the theory of the firm. To the extent that this approach is convincing, the book suggests a reordering of focus and emphasis in these studies.
Cambridge University Press; January 1990
334 pages; ISBN 9780511874383
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Title: Information, Incentives and Bargaining in the Japanese Economy
Author: Masahiko Aoki
 
ISBNs
0511874383
9780511874383
9780521386814