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The Co-Operative Game Theory of the Firm Masahiko Aoki

The Co-Operative Game Theory of the Firm

Masahiko Aoki

Published October 16th 1986
ISBN : 9780198772682
Paperback
229 pages
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 About the Book 

This highly original book challenges the orthodox economic theory of the firm as a mysterious black box whose internal design is unknown and irrelevant and which operates solely to maximize shareholder profit. Instead, the author proposes a newMoreThis highly original book challenges the orthodox economic theory of the firm as a mysterious black box whose internal design is unknown and irrelevant and which operates solely to maximize shareholder profit. Instead, the author proposes a new cooperative game theory, in which the firm is a coalition of shareholders and employees, with its market behavior and internal distribution the result of a cooperative game (bargaining). Aoki tests his model against existing industrial structures, including the Anglo-American unionized firm, the German/Swedish co-determination firm, and the American non-union or Japanese firm.