Wako, Tohru; Ohta, Hiroshi - In: Pacific Economic Review 10 (2005) 4, pp. 539-556
Observations on Japan's industrial distribution system reveal that many producers maintain both keiretsu and non-keiretsu channels. An intriguing question then is: what economic rationale underlies such an ambivalent policy? This motivated us to present a model of an incomplete keiretsu system....