Masahiko Aoki

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Masahiko Aoki Henri and Tomoye Takahashi Professor of Japanese Studies, Department of Economics; Sr. Fellow, Stanford Institute of Economic Policy Research (SIEPR), Stanford University President and Chief Research Officer (CRO), Research Institute of International Trade and Industry (RIETI), Government of Japan Ph.D. University of Minnesota (1967); A.B. and M.A., University of Tokyo (1962, 1964) Born in 1938 in Japan; Assistant professor (1968-71) and Fulbright Visiting Professor (1979-80) at Harvard University; Associate and Full Professor (1969-77, 1977-92) at Kyoto University. Teaching at Stanford University since 1984. Research Interests Comparative institutional analysis, corporate governance, the theory of the firm, the Japanese economy. Representative Books The Co-operative Game Theory of the Firm, Oxford University Press, 1984. Information, Incentives, and Bargaining in the Japanese Economy, Cambridge University Press, 1988. Translated into French, Spanish, Italian, Chinese, Japanese and Russian. Information, Corporate Governance and Institutional Diversity, Toyo Keizai Shinposya, 1995, and Oxford university Press (2000) Towards a Comparative Institutional Analysis, MIT Press, 2001. Translated into Japanese, Chinese and French Representative Edited Books The Japanese Firm: Its Sources of Competitiveness, (co-authored with Ronald Dore), Oxford University Press, 1994. The Japanese Main Bank System and its Relevancy for Developing and Transforming Economies, (co-edited with Hugh Patrick), Oxford University Press, 1994. Corporate Governance in Transitional Economies: Insider Control and Roles of Banks, World Bank, 1994. The Role of Government in East Asian Economic Development: Comparative Institutional Analysis (co-edited with Hyung-ki Kim and Masahiro Okuno-Fujiwara), Oxford University Press, 1997. Communities and Markets in Economic Development (co-edited with Yujiro Hayami), Oxford University, 2000. International Prizes and Honors 1981 Fellow, Econometric Society 1990 Japan Academy Prize 1990 Hiromi Arisawa Memorial Award for the Best Book on Asia (The Association of American University Presses) 1993 Foreign Member, Swedish Royal Academy of Engineering Sciences (Economics) 1995-96 President, Japanese Economic Association 1996 Honorary Visiting Professor, Peoples University of China 1998 Schumpeter Prize (International Joseph A. Schumpeter Society) 1999 Walras-Pareto Lecture, University of Lausanne .

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JOI Volume 5 Issue 2 Cover and Front Matter
17441374_5-2.qxd 6/25/09 4:00 PM Page 1 Journal of ISSN 1744-1374 Economics Institutional of Journal Institutional Journal of Economics vol 5 • no 2 • AUGUST 2009 Institutional Economics Contents 137 Knowledge and the theory of institutional change vol 5 • no 2 • AUGUST 2009 Thráinn Eggertsson 151 Comparing theories of institutional change Chris Kingston and Gonzalo Caballero 181 Institutions and US regional development: a study of Massachusetts and Virginia Sukkoo Kim 207 Does institutional quality affect capital mobility? Evidence from developing countries Javed Younas 225 Comparative urban institutions and intertemporal externality: a revisit of the 5 • no 2 AUGUSTvol 2009 Coase conjecture Feng Deng Fragment 251 Self-deceit and self-serving bias: Adam Smith on ‘General Rules’ Elias L. Khalil Cambridge Journals Online For further information about this journal please go to the journal website at: journals.cambridge.org/joi Downloaded from https://www.cambridge.org/core. IP address: 170.106.35.76, on 28 Sep 2021 at 20:26:04, subject to the Cambridge Core terms of use, available at https://www.cambridge.org/core/terms. https://doi.org/10.1017/S1744137409001258 17441374_5-2.qxd 6/25/09 4:00 PM Page 2 Journal of Institutional Economics Journal of Institutional Economics editors statement of aims submission of articles subscriptions copying issn Institutions are the stuff of social and institutions and organizations. The Journal of Institutional Economics ( Geoffrey M. Hodgson (Editor-in-Chief) Submission should be made electronically to This journal is registered with the Copyright economic life. The importance of The Journal of Institutional Economics is an 1744-1374) is published three times a year, The Business School the Editor-in-Chief, Geoffrey Hodgson, via Clearance Center, 222 Rosewood Drive, understanding the role of institutions in interdisciplinary journal that will be of interest April, August and December.
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State Failure in Developing Countries and Strategies of Institutional Reform
State Failure in Developing Countries and Strategies of Institutional Reform Mushtaq H. Khan Department of Economics, SOAS, University of London. Abstract: The analysis of state failure and the policy debate have been driven by two very different underlying views of what the state does. The first, which we call the “service- delivery” view says the role of the state is to provide law and order, stable property rights, key public goods and welfarist redistributions. In failing to provide these, state failure contributes to economic under-performance and poverty. State failure of this type is in turn related to an inter-dependent constellation of governance failures including corruption and rent-seeking, distortions in markets and the absence of democracy. All of these need to be addressed to focus the state on its core service-delivery tasks. The second locates the developing country state in the context of “social transformation”: the dramatic transition these countries are going through as traditional production systems collapse and a capitalist economy begins to emerge. Dynamic transformation states have heavily intervened in property rights and devised rent-management systems to accelerate the capitalist transition and the acquisition of new technologies. State failure according to this view has been driven by the lack of institutional capacities in these respects, and more importantly, the incompatibility of institutional capacities with pre-existing distributions of power. An examination of the econometric data and historical evidence raises serious doubts as to whether the governance reforms suggested by the first view can improve growth, while the need for reforms identified by the second view are much better supported.
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Masahiko Aoki
Masahiko Aoki (Henri and Tomoye Takahashi Professor Emeritus of Japanese Studies, Economics Department, and Senior Fellow, Stanford Institute of Economic Policy Research and Freeman Spogli Institute for International Studies, Stanford University, Director of the Virtual Center for Advanced Studies in Institution, Tokyo Foundation). Remarks on “Liberté, Egalité and Fraternité” by Professor Kornai at the conference in honor of Professor Wu Jinglian In honor of the 80 th birthday of Professor Wu, Professor Janos Kornai aptly takes up the fundamental social values of “Liberté, Egalité and Fraternité”, the revolutionary motto of the French revolution, as the theme of his contribution. He examines the achievement of these values in the Eastern European countries after twenty years of the Fall of the Berlin Wall and offers his insight on this as a possible reference frame for China’s reform. I say he does so “aptly”, because Professor Wu, in his paper, China’s Economy: Sixty Years of Progress, authoritatively and insightfully traces the progress with respect to these societal values associated with the complex path of economic development of China, while passionately warning against possible regress that might be brought about by giving-up further reform. Doubtlessly, these two giants from the former planned economies, the West and the East, agree on the importance and relevance of those universal values to economic and societal transformation and development, while they are aware of many obstacles and challenges to realize them in the concrete context of each economy. While Professor Kornai notes remarkable achievements in Eastern European economies as regards Liberté, he points out that there seems to exist no simple political consensus about how to achieve the norm of Egalité and Fraternité.
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Introduction Masahiko Aoki
Introduction Masahiko Aoki This volume is a collection of 22 articles that I have written for professional journals and edited volumes in the past 45 years. Naturally there are variations in theme, focus, approach and style among these writings. The articles are therefore organized into four parts according to basic themes. Part I: Comparative Mechanism Design includes eight chapters dealing with economic and organizational processes as computation/information systems. Four chapters in section A deal with the design of resource allocation processes for non-neoclassical environments (that is, non-convexity, externalities) in the ‘price versus quantity’ framework and four chapters in section B analytically compare properties of vertical, horizontal and modular coordination mechanisms in organizations. Part II: The Diversity of Corporate Governance: A Cooperative Game Approach consists of four chapters that analyze the nature of corporate governance as multiple, equilibrium responses to varied information systems of the corporate firm as discussed in Part I, section B. In this approach, the universal validity of the orthodox shareholders’ sovereignty view of corporate governance is challenged. It does not hold as equilibrium for emergent information systems in which the rights of controlling physical assets needs to be complemented by cognitive assets of employees. Part III: Analysis of the Endogenous Nature of Institutions includes five chapters that provide a conceptual framework for understanding institutions as endogenous outcomes of the societal process in which individual beliefs and strategic actions are mediated by public representations of common knowledge. They provide a game-theoretic foundation for important notions in institutional studies such as institutional complementarities, enforcement, social embeddedness, customs, and path-dependence.
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A Modern Reader in Institutional and Evolutionary Economics : Key Concepts / Edited by Geoffrey M
A Modern Reader in Institutional and Evolutionary Economics EUROPEAN ASSOCIATION FOR EVOLUTIONARY POLITICAL ECONOMY Series Editor: Geoffrey M. Hodgson, University of Hertfordshire Business School, UK Mixed Economies in Europe: An Evolutionary Perspective on their Emergence, Transition and Regulation Edited by Wolfgang Blaas and John Foster The Political Economy of Diversity: Evolutionary Perspectives on Economic Order and Disorder Edited by Robert Delorme and Kurt Dopfer On Economic Institutions: Theory and Applications Edited by John Groenewegen, Christos Pitelis and Sven-Erik Sjöstrand Rethinking Economics: Markets, Technology and Economic Evolution Edited by Geoffrey M. Hodgson and Ernesto Screpanti Environment, Technology and Economic Growth: The Challenge to Sustainable Development Edited by Andrew Tylecote and Jan van der Straaten Institutions and Economic Change: New Perspectives on Markets, Firms and Technology Edited by Klaus Nielsen and Björn Johnson Pluralism in Economics: New Perspectives in History and Methodology Edited by Andrea Salanti and Ernesto Screpanti Beyond Market and Hierarchy: Interactive Governance and Social Complexity Edited by Ash Amin and Jerzy Hausner Employment, Technology and Economic Needs: Theory, Evidence and Public Policy Edited by Jonathan Michie and Angelo Reati Institutions and the Evolution of Capitalism: Implications of Evolutionary Economics Edited by John Groenewegen and Jack Vromen Is Economics an Evolutionary Science? The Legacy of Thorstein Veblen Edited by Francisco Louçã and Mark Perlman Technology and Knowledge: From the Firm to Innovation Systems Edited by Pier Paolo Saviotti and Bart Nooteboom Evolution and Path Dependence in Economic Ideas: Past and Present Edited by Pierre Garrouste and Stavros Ioannides A Modern Reader in Institutional and Evolutionary Economics: Key Concepts Edited by Geoffrey M.
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Where Do Transactions Come From? a Network Design Perspective on the Theory of the Firm
06-051 Where Do Transactions Come From? A Network Design Perspective on the Theory of the Firm Carliss Y. Baldwin* Kim B. Clark† Copyright © 2006 Carliss Y. Baldwin and Kim B. Clark Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Where Do Transactions Come From? A Network Design Perspective on the Theory of the Firm Carliss Y. Baldwin* Kim B. Clark† May 11, 2006 A very early version of this paper was presented at the Saint-Gobain Centre for Economic Research 5th Conference, Paris, FR, November 7-8, 2002. We thank Richard Langlois, Michael Jacobides, Jason Woodard, Masahiko Aoki, Ben Bensaou, Amar Bhide, Robert Boyer, Takahiro Fujimoto, Robert Gibbons, Nobuo Ikeda, Datta Kulkarni, Luigi Marengo, Sharon Novak, Mari Sako, David Scharfstein, David Sharman, Robert Solow, Robin Stevenson, and Daniel Whitney, as well as seminar participants at the MIT Design Structure Matrix Workshop, the NBER Conference on Organizational Economics, the London Business School Modularity Miniconference, Southern Methodist University, Columbia Law School, and the MIT Industrial Performance Center for thoughtful comments on previous drafts. We alone are responsible for errors, oversights and faulty reasoning. *Harvard Business School †Brigham Young University, Idaho WHERE DO TRANSACTIONS COME FROM? MAY 11, 2006 Direct correspondence to: Carliss Y. Baldwin [email protected] Copyright © Carliss Y. Baldwin and Kim B. Clark, 2006 2 WHERE DO TRANSACTIONS COME FROM? MAY 11, 2006 Where Do Transactions Come From? A Network Design Perspective on the Theory of the Firm Carliss Y.
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February 11, 2016 Curriculum Vitae Stephen A. Marglin EDUCATION
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Social Capital and Community Governance Samuel Bowles And
Social Capital and Community Governance∗ Samuel Bowles and Herbert Gintis University of Massachusetts and Santa Fe Institute Amherst, Massachusetts, 01003 November 21, 2001 Abstract Social capital generally refers to trust, concern for ones associates, a will- ingness to live by the norms of one’s community and to punish those who do not. While essential to good governance, these behaviors and disposi- tions appear to conﬂict with the fundamental behavioral assumptions of eco- nomics whose archetypal individual—Homo economicus—is entirely self- regarding. By community governance we mean the structure of small group social interactions—distinct from markets and states—that, along with these more familiar forms of governance, jointly determine economic and social out- comes. We suggest that (i) community governance addresses some common market and state failures but typically relies on insider-outsider distinctions that may be morally repugnant; (ii) the individual motivations supporting com- munity governance are not captured by either the conventional self-interested preferences of Homo economicus or by unconditional altruism towards one’s fellow community members; (iii) well-designed institutions make commu- nities, markets and states complements, not substitutes; (iv) with poorly de- signed institutions, markets and states can crowd out community governance; (v) some distributions of property rights are better than others at fostering community governance and assuring complementarity among communities, states and markets; and (vi) far from representing holdovers from a premod- ern era, the small scale local interactions that characterize communities are likely to increase in importance as the economic problems that community governance handles relatively well become more important. ∗ For a symposium to appear in the Economic Journal, along with companion papers by Steven Durlauf, Ernst Fehr, Edward Glaeser, David Laibson, and Bruce Sacerdote.
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Employee Representation and Corporate Governance: a Missing Link
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Continuing Towards a Comparative Institutional Analysis in Memory Of
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The Case Against Copyright: a Comparative Institutional Analysis of Intellectual Property Regimes
GW Law Faculty Publications & Other Works Faculty Scholarship 2004 The Case Against Copyright: A Comparative Institutional Analysis of Intellectual Property Regimes F. Scott Kieff George Washington University Law School, [email protected] Follow this and additional works at: https://scholarship.law.gwu.edu/faculty_publications Part of the Law Commons Recommended Citation Kieff, F. Scott, "The Case Against Copyright: A Comparative Institutional Analysis of Intellectual Property Regimes" (2004). GW Law Faculty Publications & Other Works. 561. https://scholarship.law.gwu.edu/faculty_publications/561 This Article is brought to you for free and open access by the Faculty Scholarship at Scholarly Commons. It has been accepted for inclusion in GW Law Faculty Publications & Other Works by an authorized administrator of Scholarly Commons. For more information, please contact [email protected]. (Working Draft) THE CASE AGAINST COPYRIGHT: A COMPARATIVE INSTITUTIONAL ANALYSIS OF INTELLECTUAL PROPERTY REGIMES F. SCott KiEff * © 2004. F. Scott Kieff. All Rights Reserved. Abstract Contemporary debates over intellectual property (“IP”) generally evidence positions that appear to line up at opposite ends of the same axis, with one side arguing for more rights for IP owners under each major regime – patent, trademark, and copyright – and the other side arguing for fewer. Approaching from what some may see as a “more” IP view, this paper offers the counterintuitive suggestion to consider abolishing one of these IP regimes – copyright, at least with respect to the entertainment industry, which represents one of that regime’s most commercially significant users. This realization is in fact consistent with the underlying view because the view is not accurately seen as even being directed to the “more” or “less” debate; and instead is focused on means as much as ends.
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