Book contents
- Contracting in Japan
- Cambridge Studies in Economics, Choice, and Society
- Contracting in Japan
- Copyright page
- Dedication
- Contents
- Acknowledgments
- 1 Introduction
- 2 Contracting for Terroir in Sake
- 3 Contracting for Quality in Fish
- 4 Contracting for Geothermal in Hot Springs
- 5 Contracting for Credit in Agriculture
- 6 Contracting for Mercy in Buddhism
- 7 Conclusions
- Bibliography
- Index
7 - Conclusions
Published online by Cambridge University Press: 10 August 2023
- Contracting in Japan
- Cambridge Studies in Economics, Choice, and Society
- Contracting in Japan
- Copyright page
- Dedication
- Contents
- Acknowledgments
- 1 Introduction
- 2 Contracting for Terroir in Sake
- 3 Contracting for Quality in Fish
- 4 Contracting for Geothermal in Hot Springs
- 5 Contracting for Credit in Agriculture
- 6 Contracting for Mercy in Buddhism
- 7 Conclusions
- Bibliography
- Index
Summary
Japanese Buddhist temples had traditionally relied on the high levels of social capital within the local village to enforce the giving they needed to stay solvent. When men and women began to leave the villages for the anomic cities, the temples found themselves without the necessary funds. In response, they turned from what had been an effective village retainer contract to an individual fee-for-service model of finance. Unfortunately for the temples, they market their priceable services (primarily ceremonies connected to deaths) within competitive markets. Unable to sell above marginal cost, they have been unable to cross-subsidize their other – less priceable – services.
- Type
- Chapter
- Information
- Contracting in JapanThe Bargains People Make When Information is Costly, Commitment is Hard, Friendships are Unstable, and Suing is Not Worth It, pp. 187 - 190Publisher: Cambridge University PressPrint publication year: 2023