The four papers and comments in this volume deal with different aspects of the relationship between state and people in twentieth century Japan. Ben-Ami Shillony's paper is concerned with religious aspects of this relationship, in particular concerning the role of the emperor, while Barbara...

This paper explores the extent to which the presence of ex-ante transaction costs may lead to failures of the Coase Theorem. In particular we identify and investigate the basic 'hold-up problem' which arises whenever the parties to a Coasian negotiation have to pay some ex-ante costs for the...

We propose a theory of supervision with endogenous transaction costs. A principal delegates part of his authority to a supervisor who can acquire soft information about an agent's productivity. If the supervisor were risk-neutral, the principal would simply make the better informed supervisor...