Skip to content

Toward a Comparative Institutional Analysis

Best in textbook rentals since 2012!

ISBN-10: 0262011875

ISBN-13: 9780262011877

Edition: 2001

Authors: Masahiko Aoki, Avner Greif, Paul Milgrom

List price: $75.00
Blue ribbon 30 day, 100% satisfaction guarantee!
what's this?
Rush Rewards U
Members Receive:
Carrot Coin icon
XP icon
You have reached 400 XP and carrot coins. That is the daily max!

Description:

Markets 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. In 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…    
Customers also bought

Book details

List price: $75.00
Copyright year: 2001
Publisher: MIT Press
Publication date: 11/9/2001
Binding: Hardcover
Pages: 560
Size: 7.31" wide x 9.31" long x 1.12" tall
Weight: 2.134
Language: English

Masahiko Aoki is Henri H. and Tomoye Takahashi Professor of Japanese Studies in the Department of Economics at Stanford University.

Acknowledgments
What Are Institutions? How Should We Approach Them?
Three Views of Institutions in a Game-Theoretic Perspective
Aspects of Institutions: Shared Beliefs, Summary Representations of Equilibrium, and Endogenous Rules of the Game
Organization of the Book
Customary Property Rights and Community Norms
Customary Property Rights as a Self-organizing System
Community Norms as a Self-enforcing Solution to the Commons Problem
History versus Ecology as a Determinant of a Norm: The Case of Yi Korea
The Private-Ordered Governance of Trade, Contracts, and Markets
Traders' Norms
Cultural Beliefs and Self-enforcing Employment Contracts
Private Third-Party Governance: The Law Merchant
Moral Codes
Overall Market Governance Arrangements
Money as an Evolutive Convention
Organizational Architecture and Governance
Organizational Building Blocks: Hierarchical Decomposition, Information Assimilation, and Encapsulation
Types of Organizational Architecture
Governance of Organizational Architecture: A Preliminary Discussion
The Co-evolution of Organizational Conventions and Human Asset Types
Types of Mental Programs: Individuated versus Context-Oriented Human Assets
The Evolutionary Dynamics of Organizational Conventions
The Interactions of Organizational Fields and Gains from Diversity
The Relevance and Limits of the Evolutionary Game Model
States as Stable Equilibria in the Polity Domain
Three Prototypes of the State
Various Forms of the Democratic and Collusive States
A Game-Theoretic Concept of Institutions
Exogenous Rules of the Game and Endogenous Action-Choice Rules
The Institution as a Summary Representation of an Equilibrium Path
Feedback Loops of Institutionalization
The Synchronic Structure of Institutional Linkage
Social Embeddedness
Linked Games and Institutional Linkages
Institutional Complementarity
Subjective Game Models and the Mechanism of Institutional Change
Why Are Overall Institutional Arrangements Enduring?
Subjective Game Models and General Cognitive Equilibrium
The Mechanism of Institutional Change: The Cognitive Aspect
Diachronic Linkages of Institutions
Overlapping Social Embeddedness
The Reconfiguration of Bundling
Diachronic Institutional Complementarity
Comparative Corporate Governance
Governance of the Functional Hierarchy
Codetermination in the Participatory Hierarchy
Relational-Contingent Governance of the Horizontal Hierarchy
Types of Relational Financing and the Value of Tacit Knowledge
A Generic Definition of Relational Financing and Its Knowledge-Based Taxonomy
The Institutional Viability of Relational Financing
Institutional Complementarities, Co-emergence, and Crisis: The Case of the Japanese Main Bank System
The Main Bank Institution as a System of Shared Beliefs
Institutional Emergence: Unintended Fits
Endogenous Inertia, Misfits with Changing Environments, and a Crisis of Shared Beliefs
Institutional Innovation of the Silicon Valley Model in the Product System Development
Information-Systemic Architecture of the Silicon Valley Model
The VC Governance of Innovation by Tournament
Norms and Values in the Silicon Valley Model
The Stylized Factual Background for Modeling
Epilogue: Why Does Institutional Diversity Continue to Evolve?
Some Stylized Models of Overall Institutional Arrangements
Self-organizing Diversity in the Global Institutional Arrangement
Notes
References
Index