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Strategies and public propositions in games of institutional change: Comparative historical cases

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  • Aoki, Masahiko

Abstract

This paper argues that the game-theoretic approach is incomplete for institutional studies, because comparative institutions as well as institutional changes involve the possibility of multiple equilibria. In order to solve the common knowledge problem, this paper proposes to unify game theoretic thought with an analysis of public representations/propositions to summarize salient features of the recursive/emergent states of play. From this perspective the paper tries to reconcile differences in three accounts of institutions: endogenous outcome, exogenous rules and constitutive rules accounts. Then, the unified approach is applied to comparative and historical cases of Tokugawa Japan and Qing China. Specifically it sheds new light into the coalitional nature of the Tokugawa Baku-Han regime nesting the fundamental Samurai-village pact as well as the tendency toward decentralization of political violence and fiscal competence to the provincial level toward the end of Qing China. From these new historical interpretations, endogenous strategic forces and associated public propositions leading to institutional changes through the Meiji Restoration and the Xinhai Revolution are identified and compared.

Suggested Citation

  • Aoki, Masahiko, 2017. "Strategies and public propositions in games of institutional change: Comparative historical cases," Journal of Comparative Economics, Elsevier, vol. 45(1), pages 171-187.
    • Handle: RePEc:eee:jcecon:v:45:y:2017:i:1:p:171-187
    DOI: 10.1016/j.jce.2016.04.002
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    References listed on IDEAS

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    1. Carsten Herrmann-Pillath, 2009. "Social capital, Chinese style: individualism, relational collectivism and the cultural embeddedness of the institutions–performance link," China Economic Journal, Taylor & Francis Journals, vol. 2(3), pages 325-350.
    2. Binmore, Ken, 2005. "Natural Justice," OUP Catalogue, Oxford University Press, number 9780195178111.
    3. Aoki, Masahiko, 2014. "Economic and Political Transitions from Premodern to Modern States in the Meiji Restoration and Xinhai Revolution: A Strategic Approach," ADBI Working Papers 486, Asian Development Bank Institute.
    4. Wolfgang Keller & Ben Li & Carol H. Shiue, 2012. "The Evolution of Domestic Trade Flows When Foreign Trade Is Liberalized: Evidence from the Chinese Maritime Customs Service," International Economic Association Series, in: Masahiko Aoki & Timur Kuran & Gérard Roland (ed.), Institutions and Comparative Economic Development, chapter 8, pages 152-172, Palgrave Macmillan.
    5. Masahiko Aoki, 2001. "Toward a Comparative Institutional Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011875, December.
    6. Rosenthal, Jean-Laurent & Wong, R. Bin, 2011. "Before and Beyond Divergence: The Politics of Economic Change in China and Europe," Economics Books, Harvard University Press, number 9780674057913, Spring.
    7. Searle, John R., 2005. "What is an institution?," Journal of Institutional Economics, Cambridge University Press, vol. 1(1), pages 1-22, June.
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    Cited by:

    1. Jiwei Qian & Tuan‐Hwee Sng, 2021. "The state in Chinese economic history," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 61(3), pages 359-395, November.

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    More about this item

    Keywords

    Comparative institutions; Institutional change; Unified approach to institutions; History of Chinese and Japanese political economies;
    All these keywords.

    JEL classification:

    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • N00 - Economic History - - General - - - General
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P50 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - General

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