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
3 - Contracting for Quality in Fish
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
Regional brewers determined to create premium terroir sake faced an extraordinarily complex contracting problem. They needed to convince farmers to grow unusual varieties of delicate and temperamental sake-optimized rice. They needed to convince the farmers to lavish on the rice with high levels of care. Yet they did not address the complex contracting problem with complex agreements. Instead, they negotiated extraordinarily simple contracts: terminable at the end of the year, paying extremely high prices, and embedded – once again – within a dense network of deliberately created social capital.
- 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. 63 - 90Publisher: Cambridge University PressPrint publication year: 2023