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Coordination Under Uncertain Conditions: An Analysis of the Fukushima Catastrophe

Author

Listed:
  • Aoki, Masahiko

    (Asian Development Bank Institute)

  • Rothwell, Geoffrey

    (Asian Development Bank Institute)

Abstract

This paper analyzes the impacts of the 11 March 2011 earthquake and tsunami at the Fukushima nuclear power plant in Japan, which were amplified by a failure of coordination across the plant, corporate, industrial, and regulatory levels, resulting in a nuclear catastrophe, comparable in cost to Chernobyl. It derives generic lessons for industrial structure and regulatory frame of the electric power industry by identifying the two shortcomings of a horizontal coordination mechanism: instability under large shock and the lack of “defense in depth.”

Suggested Citation

  • Aoki, Masahiko & Rothwell, Geoffrey, 2011. "Coordination Under Uncertain Conditions: An Analysis of the Fukushima Catastrophe," ADBI Working Papers 316, Asian Development Bank Institute.
    • Handle: RePEc:ris:adbiwp:0316
    as

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    References listed on IDEAS

    as
    1. Aoki, Masahiko, 2010. "Corporations in Evolving Diversity: Cognition, Governance, and Institutions," OUP Catalogue, Oxford University Press, number 9780199218530.
    2. Masahiko Aoki, 2013. "Toward an Economic Model of the Japanese Firm," Chapters, in: Comparative Institutional Analysis, chapter 18, pages 315-341, Edward Elgar Publishing.
    3. Rothwell, Geoffrey, 1996. "Organizational Structure and Expected Output at Nuclear Power Plants," The Review of Economics and Statistics, MIT Press, vol. 78(3), pages 482-488, August.
    4. Masahiko Aoki & Hirokazu Takizuwa, 2013. "Information, Incentives, and Option Value: The Silicon Valley Model," Chapters, in: Comparative Institutional Analysis, chapter 7, pages 72-104, Edward Elgar Publishing.
    5. Masahiko Aoki, 2013. "Horizontal vs. Vertical Information Structure of the Firm," Chapters, in: Comparative Institutional Analysis, chapter 5, pages 57-58, Edward Elgar Publishing.
    6. n/a, 2003. "Book Reviews," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 151-159.
    7. Bushnell, James & Hobbs, Benjamin F. & Wolak, Frank A., 2009. "When It Comes to Demand Response, Is FERC Its Own Worst Enemy?," The Electricity Journal, Elsevier, vol. 22(8), pages 9-18, October.
    8. Ricardo Alonso & Wouter Dessein & Niko Matouschek, 2008. "When Does Coordination Require Centralization?," American Economic Review, American Economic Association, vol. 98(1), pages 145-179, March.
    9. Ricardo Alonso & Wouter Dessein & Niko Matouschek, 2008. "When Does Coordination Require Centralization? Corrigendum," American Economic Review, American Economic Association, vol. 98(3), pages 1195-1196, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    fukushima catastrophe; nuclear power; earthquake and tsunami;
    All these keywords.

    JEL classification:

    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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