{"title":"Masahiko Aoki","description":null,"products":[{"product_id":"toward-a-comparative-institutional-analysis-book-masahiko-aoki-9780262011877","title":"Toward a Comparative Institutional Analysis","description":"\u003cb\u003eA conceptual and analytical framework for understanding economic institutions and institutional change.\u003c\/b\u003e\u003cp\u003eMarkets are one of the most salient institutions produced by humans, and economists have traditionally analyzed the workings of the market mechanism. Recently, however, economists and others have begun to appreciate the many institution-related events and phenomena that have a significant impact on economic performance. Examples include the demise of the communist states, the emergence of Silicon Valley and e-commerce, the European currency unification, and the East Asian financial crises.\u003c\/p\u003e\u003cp\u003eIn this book Masahiko Aoki uses modern game theory to develop a conceptual and analytical framework for understanding issues related to economic institutions. The wide-ranging discussion considers how institutions evolve, why their overall arrangements are robust and diverse across economies, and why they do or do not change in response to environmental factors such as technological progress, global market integration, and demographic change.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49948748087569,"sku":"GOR009737016","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":52629428240657,"sku":"CIN0262011875VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":52693579464977,"sku":"CIN0262011875G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0262011875.jpg?v=1751388983"},{"product_id":"co-operative-game-theory-of-the-firm-book-masahiko-aoki-9780198284857","title":"The Co-operative Game Theory of the Firm","description":"Neoclassical economic theory treats the firm as a black box whose internal design need not be known. The author proposes a new model which treats employees as an integral part of the firm.","brand":"WoB","offers":[{"title":"US \/ GOOD \/ SBYB","offer_id":50345574105361,"sku":"CIN0198284853G","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198284853.jpg?v=1751226498"},{"product_id":"japanese-firm-book-masahiko-aoki-9780198292159","title":"The Japanese Firm","description":"Masahiko Aoki and Ronald Dore have edited an authoritative account of the Japanese firm and the sources of its success, including contributions from some of the best, and best known, scholars in the field.  The book represents an attempt to explain and understand aspects of the firm in the Japanese economic system, and to explain the corporate success of Japan. It is interdisciplinary in approach, containing both theoretical and empirical work, and has contributions from the fields of labour economics, comparative institutional analysis, information economics, finance, organizational theory, economic history, political science, and sociology.  Chapters range from contemporary descriptions--of training (in overseas subsidiaries as well as Japan), of R\u0026amp;D structures, of product development practices, of finance and corporate governance, of trading relations, especially between small and large firms--to an historical overview of the evolution of Japanese management in the wartime planned economy. The book also situates Japan in the literature of economic analysis and in the on-going debate about trade-offs between equality and efficiency.  The contemporary media would have us believe that the Japanese system of management--characterized by lifetime employment, emphasis on long-term, slow consensual decision-making, heavy investments in training, R\u0026amp;D, and quality, close inter-enterprise ties, and short rations for shareholders--is in crisis and about to change fundamentally. This book will enable the reader to decide just how solid the foundations of the Japanese enterprise system are, and to identify the rationale that lies behind it.","brand":"WoB","offers":[{"title":"US \/ GOOD \/ SBYB","offer_id":50466814886161,"sku":"CIN0198292155G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ NEW \/ INGRAM","offer_id":50999949918481,"sku":"NIN9780198292159","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52350467571985,"sku":"NLS9780198292159","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/B008T6TRJM.jpg?v=1751258386"},{"product_id":"communities-and-markets-in-economic-development-book-masahiko-aoki-9780199241019","title":"Communities and Markets in Economic Development","description":"This book explores the role of community in facilitating the transition to market relationships in economic development, and in controlling and sustaining local public goods such as irrigation, forests, grazing land, and fishing grounds. Previously it was customary to classify economic systems in terms of varying combinations of state and market control of resource allocation. In contrast, this book recognizes community as the third major element of economic systems. This new approach also departs from the conventional view that markets and community norms should be treated as mutually exclusive means of organizing economic activity, instead clarifying the situations in which they may become complementary. Further discussion focuses on the conditions under which management of local commons can, and should, be delegated to local communities rather than subjected to the control of central government.   These and other issues are investigated by twenty-one leading scholars from economic history, development economics, agricultural economics, and institutional economics. The resulting volume is the latest in a set of four books about East Asian developmental experiences, co-sponsored by the Economic Institute of the World Bank and the Stanford Institute of Economic Policy Research. It will appeal to economists and other social scientists with an interest in economic development, history, comparative systems, and institutional economics.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51089277321489,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51089280827665,"sku":"NIN9780199241019","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52480564330769,"sku":"NLS9780199241019","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0199241015.jpg?v=1772275655"},{"product_id":"role-of-government-in-east-asian-economic-development-book-masahiko-aoki-9780198292135","title":"The Role of Government in East Asian Economic Development","description":"The role of government in East Asian economic development has been a continuous issue. Two competing views have shaped enquiries into the source of the rapid growth high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention.   This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. The book starts from the premise that private sector institutions have important comparative advantages over government, in particular in their ability to process information available on site. At the same time, it recognizes that the capabilities of the private sector are more limited in developing economies. The market-enhancing view thus stresses the mechanisms whereby government policy is directed at improving the ability of the private sector to solve co-ordination problems and overcome other market imperfections.  In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economies-including Japan, Korea, Hong Kong, Malaysia, and China-and its path-dependant and developmental stage nature.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51146968334609,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51146971513105,"sku":"NIN9780198292135","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52407202414865,"sku":"NLS9780198292135","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198292139.jpg?v=1751164703"},{"product_id":"japanese-main-bank-system-book-masahiko-aoki-9780198288992","title":"The Japanese Main Bank System","description":"BL Gives a definitive description and analysis of the main bank system BL Strong contributors BL Understudied subject BL Incorporates results of a major World Bank research programme BL Balances institutional description with financial theory and empirical analysis This volume looks at systems of corporate finance, concentrating on the Japanese main bank system. The remaining chapters describe different systems, assessing to what extent the Japanese system can serve as a model for developing market economies and transforming socialist economies.  The basic characteristics of the main bank system are examined here, its roots, development, and its role in the heyday of its rapid growth. The volume looks at how the system has performed and at its strengths and weaknesses. It goes on to look at how the system has changed and what its approprate role is as deregulation, liberalization, and internationalization of Japan's financial markets have proceeded over the past two decades and a new issue securities market has emerged.  A basic conclusion of the book is that banking-based systems are in most cases the most appropriate for industrial financing until a rather late stage of a country's economic and financial development. It aims to identify the conditions under which banks are better able that securites market institutions to evaluate the credit worthiness of borrowers and the viability of new projects, to monitor the ongoing performance of firms, and to rescue or liquidate firms in distress.   Contributors: Masahiko Aoki, Theodor Baums, V.V.Bhatt, John Campbell, Yasushi Hamao, Toshihiro Horiuchi, Takeo Hoshi, Anil Kashyap, Dong-Wong Kim, Gary Loveman, Sang-Woo Nam, Frank Packer, Hugh Patrick, Yingyi Qian, Mark Ramseyer, Clark Reynolds, Satoshi Sunamura, Paul Sheard, Juro Teranishi, Kazuo Ueda,","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51181024739601,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51181027819793,"sku":"NIN9780198288992","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52401294180625,"sku":"NLS9780198288992","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198288999.jpg?v=1751258385"},{"product_id":"information-incentives-and-bargaining-in-the-japanese-economy-book-masahiko-aoki-9780521386814","title":"Information, Incentives and Bargaining in the Japanese Economy","description":"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.","brand":"WoB","offers":[{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":51323217969425,"sku":"CIN0521386810VG","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":51415496884497,"sku":"CIN0133716910G","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52124742320401,"sku":"NLS9780521386814","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0313306184.jpg?v=1750783016"},{"product_id":"co-operative-game-theory-of-the-firm-book-masahiko-aoki-9780198772682","title":"The Co-operative Game Theory of the Firm","description":"This highly original book challenges the orthodox economic theory of the firm as a mysterious \"black box\" whose internal design is unknown and irrelevant and which operates solely to maximize shareholder profit. Instead, the author proposes a new \"cooperative game theory,\" in which the firm is a coalition of shareholders and employees, with its market behavior and internal distribution the result of a cooperative game (bargaining). Aoki tests his model against existing industrial structures, including the Anglo-American unionized firm, the German\/Swedish co-determination firm, and the American non-union or Japanese firm.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":52101392597265,"sku":"GOR005782424","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780198772682.jpg?v=1757093069"},{"product_id":"information-corporate-governance-and-institutional-diversity-book-masahiko-aoki-9780198297031","title":"Information, Corporate Governance, and Institutional Diversity","description":"This book uses comparative institutional analysis to explain differences in national economic performance. Countries have their own rules for corporate governance and they have different market arrangements; and these differences in rules and organization affect the way firms behave. Countries also tend to develop conventions of organizational architecture of firms - whether their hierarchies are functional, horizontal, or decentralized. This affects the way in which they process information, and information management is increasingly seen as being of crucial importance to a firm's performance. Aoki accords more importance to these factors than to the factors conventionally used in applying a neoclassical model of economic efficiency. He applies game theory, contract theory, and information theory. By describing the rules and norms in Japan, the USA, and the transitional economies, Aoki shows how firms can achieve competitive advantage in international markets if these conventions and rules are well suited to the industrial sector in which the firms operate. He is particularly concerned with how Japan, with its main bank and lifelong employment systems, as well as information-sharing firm organizational structure, might reform its institutions to maintain competitive advantage in the world economy.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52124515402001,"sku":"NLS9780198297031","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780198297031.jpg?v=1757456927"},{"product_id":"role-of-government-in-east-asian-economic-development-book-masahiko-aoki-9780198294917","title":"The Role of Government in East Asian Economic Development","description":"The role of government in East Asian economic development has been a contentious issue. Two competing views have shaped enquiries into the source of the rapid growth of the high-performing Asian economies and attempts to derive a general lesson for other developing economies: the market-friendly view, according to which government intervenes little in the market, and the developmental state view, in which it governs the market. What these views share in common is a conception of market and government as alternative mechanisms for resource allocation. They are distinct only in their judgement of the extent to which market failures have been, and ought to be, remedied by direct government intervention.    This collection of essays suggests a breakthrough, third view: the market-enhancing view. Instead of viewing government and the market as mutually exclusive substitutes, it examines the capacity of government policy to facilitate or complement private sector co-ordination. 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In presenting the market-enhancing view, the book recognizes the wide diversity of the roles of government across various East Asian economiesincluding Japan, Korea, Hong Kong, Malaysia, and China and its path-dependent and developmental stage nature.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52125534617873,"sku":"NLS9780198294917","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":52734508925201,"sku":"NIN9780198294917","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780198294917.jpg?v=1757466266"},{"product_id":"corporations-in-evolving-diversity-book-masahiko-aoki-9780198835295","title":"Corporations in Evolving Diversity","description":"In this classic text, Masahiko Aoki explores how the 2008-9 financial crisis demanded a re-examination of the role of corporations and the working of financial markets around the world, providing a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.  In recent decades the firm has predominantly been seen as an organization run and governed in the interests of shareholders, where management act as the agent of shareholders, and the workers simply as instruments for share-value maximization. This book reverses this viewpoint. It sees corporations as associational cognitive systems where 'cognitive actions' are distributed amongst managers and workers, with shareholders supplying 'cognitive tools' and monitoring their use in the systems. Aoki analyses the different relationships that can exist between shareholders, managers, and workers from this perspective, and identifies a range of different models of organizational architecture and associated governance structures. He also discusses ways in which corporations act as players in social, political, and organizational games, as well as global economic games; how these inter-related social dynamics may change particular distinctive national structures into the diversity incorporated in the global corporate landscape; and how they now call for new roles for financial markets.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ GARDNERS","offer_id":52323514974481,"sku":"NGR9780198835295","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780198835295.jpg?v=1757977309"},{"product_id":"chinese-economy-book-masahiko-aoki-9781137034281","title":"The Chinese Economy","description":"China has enjoyed a higher growth rate for a longer period than any other nation to date. This volume brings together leading economists to analyse this unprecedented economic boom, and discuss prospects for the future. Chapters address a wide range of issues, covering not only financial systems, but also the social and cultural impact of growth.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52401633132817,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52401633919249,"sku":"NLS9781137034281","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9781137034281.jpg?v=1758755324"},{"product_id":"toward-a-comparative-institutional-analysis-book-masahiko-aoki-9780262550833","title":"Toward a Comparative Institutional Analysis","description":null,"brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52407377789201,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52407378673937,"sku":"NLS9780262550833","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780262550833.jpg?v=1770112818"},{"product_id":"corporations-in-evolving-diversity-book-masahiko-aoki-9780199218530","title":"Corporations in Evolving Diversity","description":"The 2008-9 financial crisis demands we look anew at the role of corporations, and the working of financial markets around the world. In this challenging and insightful book, one of our most eminent economists provides a compelling new analysis of the corporate firm; the role of shareholders, managers and workers; and institutional governance structures.  In recent decades the firm has predominantly been seen as an organization run and governed in the interests of shareholders, where management act as the agent of shareholders, and the workers simply as instruments for share-value maximization. This book reverses this viewpoint. It sees corporations as associational cognitive systems where 'cognitive actions' are distributed amongst managers and workers, with shareholders supplying 'cognitive tools' and monitoring their use in the systems. Aoki analyses the different relationships that can exist between shareholders, managers, and workers from this perspective, and identifies a range of different models of organizational architecture and associated governance structures. He also discusses ways in which corporations act as players in social, political, and organizational games, as well as global economic games; how these inter-related social dynamics may change particular, distinctive national structures into the diversity incorporated in the global corporate landscape; and how they now call for new roles for financial markets.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52516160307473,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52516163059985,"sku":"NLS9780199218530","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780199218530.jpg?v=1760501110"},{"product_id":"chinese-economy-book-masahiko-aoki-9781137034274","title":"The Chinese Economy","description":"China has enjoyed a higher growth rate for a longer period than any other nation to date. 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In this memoir, Aoki goes over his life as a young boy immediately after World War II, as an activist who opposed the rearmament of Japan under the US-Japan Security Alliance, as a student of Marxist economics first and then modern mathematical economics, as a graduate student at Minnesota, as a young economist at Stanford, Harvard, and then Kyoto, as a central faculty member to develop comparative institutional analysis at Stanford, and as an institutional builder who established the Stanford Kyoto Center, the Research Institute of Economy, Trade, and Industry, the Virtual Center for Advanced Studies Institution in Tokyo, and the Center for Industrial Development and Environmental Governance in Beijing. Until now the memoir has been available only in Japanese and in Chinese. The English edition will allow more young social scientists to touch the life and the work of Masahiko Aoki and be inspired to make their own versions of the “transboundary game of life.”","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52650775773457,"sku":"NLS9789811327568","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9789811327568.jpg?v=1762128805"},{"product_id":"corporate-governance-in-japan-book-masahiko-aoki-9780199284511","title":"Corporate Governance in Japan","description":"Debates regarding corporate governance have become increasingly important in Japan as the post-war model of bank-based, stakeholder-oriented corporate governance faces the new pressures associated with globalization and growing investor demands for shareholder value. Bringing together a group of leading scholars from economics, law, sociology and management studies, this book looks at how the Japanese approach to corporate governance and the firm have changed in the post-bubble era. The contributions offer a unique empirical exploration of why and how Japanese firms are reshaping their corporate governance arrangements, leading to greater diversity among firms and new 'hybrid' forms of corporate governance. The book concludes by looking at what effect these incremental but transformative changes may have on Japan's distinctive variety of capitalism.","brand":"WoB","offers":[{"title":"- \/ - \/ INTERNAL","offer_id":52660399866129,"sku":null,"price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52660400587025,"sku":"NLS9780199284511","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780199284511.jpg?v=1762265166"}],"url":"https:\/\/www.worldofbooks.com\/collections\/author-books-by-masahiko-aoki.oembed","provider":"World of Books ","version":"1.0","type":"link"}