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Complementarities and systems: Understanding japanese economic organization

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  • Milgrom, Paul

    (Stanford University)

  • Roberts, John

    (Stanford University)

Abstract

The performance of the Japanese economy in the last forty five years, during which it has gone from post war destitution and near collapse to one of the richest and most productive in the world is unmatched in human history. The purposes of this essay are to interpret both the characteristic features of Japanese economic organization in terms of the concept of complementarity, and some recent developments in Japanese economy, and to speculate on its future.

Suggested Citation

  • Milgrom, Paul & Roberts, John, 1994. "Complementarities and systems: Understanding japanese economic organization," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 9(1), pages 3-42.
  • Handle: RePEc:emx:esteco:v:9:y:1994:i:1:p:3-42
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    File URL: http://estudioseconomicos.colmex.mx/archivo/EstudiosEconomicos1994/3-42.pdf
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    References listed on IDEAS

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    1. Bulow, Jeremy I & Geanakoplos, John D & Klemperer, Paul D, 1985. "Multimarket Oligopoly: Strategic Substitutes and Complements," Journal of Political Economy, University of Chicago Press, vol. 93(3), pages 488-511, June.
    2. Farrell, Joseph & Saloner, Garth, 1986. "Installed Base and Compatibility: Innovation, Product Preannouncements, and Predation," American Economic Review, American Economic Association, vol. 76(5), pages 940-955, December.
    3. Takatoshi Ito, 1991. "The Japanese Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262090295, January.
    4. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    5. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
    6. Milgrom, Paul, 1994. "Comparing Optima: Do Simplifying Assumptions Affect Conclusions?," Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 607-615, June.
    7. Margaret A. Meyer & Dilip Mookherjee, 1987. "Incentives, Compensation, and Social Welfare," Review of Economic Studies, Oxford University Press, vol. 54(2), pages 209-226.
    8. Katz, Michael L & Shapiro, Carl, 1986. "Technology Adoption in the Presence of Network Externalities," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 822-841, August.
    9. Lazear, Edward P, 1979. "Why Is There Mandatory Retirement?," Journal of Political Economy, University of Chicago Press, vol. 87(6), pages 1261-1284, December.
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