Contracting in Japan: The Bargains People Make When Information is Costly, Commitment is Hard, Friendships...

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J. Mark Ramseyer (Harvard Law School, Massachusetts)

Contracting in Japan

The Bargains People Make When Information is Costly, Commitment is Hard, Friendships are Unstable,...

J. Mark Ramseyer (Harvard Law School, Massachusetts)

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English

Cambridge University Press
27 July 2023

Public finance; Constitutional & administrative law

Series: Cambridge Studies in Economics, Choice, and Society

Economic arrangements, Ramseyer writes, are structured and implemented with the intent and hope that they will be carried out with 'care, intelligence, discretion, and effort.' Yet entrepreneurs work with partial information about the products, and people, they are dealing with. Contracting in Japan illustrates this by examining five sets of negotiations and unusual contractual arrangements among non-specialist businessmen, and women, in Japan. In it, Ramseyer explores how sake brewers were able to obtain and market the necessary, but difficult-to-grow, sake rice that captured the local terroir; how Buddhist temples tried to compensate for rapidly falling donations by negotiating unusual funerary contracts; and how pre-war local elites used leasing instead of loans to fund local agriculture. Ramseyer examines these entrepreneurs, discovering how they structured contracts, made credible commitments, obtained valuable information, and protected themselves from adverse consequences to create, maintain, strengthen, and leverage the social networks in which they operated.

By: J. Mark Ramseyer (Harvard Law School Massachusetts)
Imprint: Cambridge University Press
Country of Publication: United Kingdom
ISBN: 9781009215718
ISBN 10: 100921571X
Series: Cambridge Studies in Economics, Choice, and Society
Pages: 225
Publication Date: 27 July 2023
Audience: General/trade , ELT Advanced
Format: Paperback
Publisher's Status: Active

J. Mark Ramseyer spent most of his childhood in provincial towns and cities in southern Japan, attending Japanese schools for K-6. He returned to the US for college. Before attending law school, he studied Japanese history in graduate school. Ramseyer graduated from HLS in 1982. He clerked for the Hon. Stephen Breyer (then on the First Circuit), worked for two years at Sidley & Austin (in corporate tax), and studied as a Fulbright student at the University of Tokyo. After teaching at UCLA and the University of Chicago, he came to Harvard in 1998. He has also taught or co-taught courses at several Japanese universities (in Japanese). For his contribution to mutual understanding between Japan and the US, Ramseyer was awarded the Order of the Rising Sun, Gold Rays and Neck Ribbon, by the Japanese government in 2018.