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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
1 - Introduction
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
Importantly, parties to transactions sometimes work deliberately to create a world of high social capital around their transaction. They do this because, with high levels of social capital, they can obtain information about their contracting partners from multiple sources. With these webs of networks, they can enforce their agreements without the help of the courts. And with these webs, they can make credible their promises not to defect. They embed a transaction within a world of high levels of social capital, in other words, to mitigate the effect of the other three factors.
- 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. 1 - 24Publisher: Cambridge University PressPrint publication year: 2023