Coordination Under Uncertain Conditions: An Analysis of the Fukushima Catastrophe
AbstractThis paper analyzes the impacts of the 11 March 2011 earthquake and tsunami at the Fukushima nuclear power plant in Japan, which were amplified by a failure of coordination across the plant, corporate, industrial, and regulatory levels, resulting in a nuclear catastrophe, comparable in cost to Chernobyl. It derives generic lessons for industrial structure and regulatory frame of the electric power industry by identifying the two shortcomings of a horizontal coordination mechanism: instability under large shock and the lack of “defense in depth.”
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Bibliographic InfoPaper provided by Asian Development Bank Institute in its series ADBI Working Papers with number 316.
Length: 17 pages
Date of creation: 28 Oct 2011
Date of revision:
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fukushima catastrophe; nuclear power; earthquake and tsunami;
Other versions of this item:
- Masahiko Aoki & Geoffrey Rothwell, 2011. "Coordination Under Uncertain Conditions : An Analysis of the Fukushima Catastrophe," Governance Working Papers 23220, East Asian Bureau of Economic Research.
- L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
- L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
- L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
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- Ricardo Alonso & Wouter Dessein & Niko Matouschek, 2008. "When Does Coordination Require Centralization? Corrigendum," American Economic Review, American Economic Association, vol. 98(3), pages 1195-96, June.
- Aoki, Masahiko, 1990. "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature, American Economic Association, vol. 28(1), pages 1-27, March.
- Bushnell, James & Hobbs, Benjamin F. & Wolak, Frank A., 2009.
"When It Comes to Demand Response, Is FERC Its Own Worst Enemy?,"
The Electricity Journal,
Elsevier, vol. 22(8), pages 9-18, October.
- Bushnell, James & Hobbs, Benjamin & Wolak, Frank, 2009. "When It Comes to Demand Response, is FERC Its Own Worst Enemy?," Staff General Research Papers 13141, Iowa State University, Department of Economics.
- Aoki, Masahiko, 1986. "Horizontal vs. Vertical Information Structure of the Firm," American Economic Review, American Economic Association, vol. 76(5), pages 971-83, December.
- Rothwell, Geoffrey, 1996. "Organizational Structure and Expected Output at Nuclear Power Plants," The Review of Economics and Statistics, MIT Press, vol. 78(3), pages 482-88, August.
- Alonso, Ricardo & Dessein, Wouter & Matouschek, Niko, 2006.
"When Does Coordination Require Centralization?,"
CEPR Discussion Papers
5802, C.E.P.R. Discussion Papers.
- Aoki, Masahiko, 2010. "Corporations in Evolving Diversity: Cognition, Governance, and Institutions," OUP Catalogue, Oxford University Press, number 9780199218530.
- n/a, 2003. "Book Reviews," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 151-159.
- Aoki, Masahiko & Takizawa, Hirokazu, 2002. "Information, Incentives, and Option Value: The Silicon Valley Model," Journal of Comparative Economics, Elsevier, vol. 30(4), pages 759-786, December.
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