Mental Models and the Cost of Institutions

Juro Teranishi ()
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Juro Teranishi: Hitotsubashi University

Chapter 2 in Culture and Institutions in the Economic Growth of Japan, 2020, pp 45-69 from Springer

Abstract: Abstract Why was culture important in Japan in structuring and ordering markets and shaping socio-economic incentives? A fundamental reason lies in the internalized culture in Japan. Since the belief and value system of the Japanese, at least before the Meiji Restoration, in the deep internalized part of culture was based on concerns about others nearby, with whom individuals interact in this world as well as in the imaginary process of transmigrationTransmigration (rinne), and others nearby differ significantly among individuals, it is costly to arrive at the sharing of mental models. It follows that the comparative advantage in the technology of social building for Japan, where the sharing of mental models is difficult and collective intentionality is low, was not in institution building but rather in cultural development.

Date: 2020
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DOI: 10.1007/978-4-431-55627-5_2

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