Managing (Un)Certainties

―Economic Sociology Perspectives on the Japanese Antique Art Trade―

April 17, 2014 6:30 PM (finished)


Harald Conrad

(Sasakawa Lecturer in Japan's Economy and Management, University of Sheffield)

Date/Time April 17, 2014 6:30 PM
Location Room 549 5th floor, Akamon Sogo Kenkyuto Institute of Social Science, University of Tokyo　 [map]
Abstract Market actors are commonly faced with solving three distinct coordination problems as sources of uncertainty. How should they value the objects of their trade, how can they shield themselves from the competition, and with whom and how do they cooperate? This paper investigates how Japanese antique art dealers confront these issues. While offering a rich description and analysis of a rather secretive Japanese market, the paper advances also our theoretical understanding of market behaviour in general. First, contrary to neoclassical economic theory and approaches in cultural economics, where the idea of value has largely been abandoned, the findings highlight the importance of distinguishing between notions of value and price in understanding markets. Second, while prior research in economic sociology highlights mechanisms such as product differentiation, first-mover advantages, reciprocal agreements, corruption, cartels, or monopolies to alleviate uncertainties created by competition, this paper shows how complex price making mechanisms in dealers' auctions can have a similar function.
Bio Harald CONRAD is Sasakawa Lecturer in Japan's Economy and Management at the University of Sheffield's School of East Asian Studies. Prior to his appointment at Sheffield in 2008, he was Associate Professor at Ritsumeikan Asia Pacific University from 2007 to 2008 and Deputy Director of the German Institute for Japanese Studies in Tokyo from 2005 to 2007. His research interests are in Japanese social policy, human resource management practices, the structure of markets and cross-cultural negotiations. His latest book publications are The Demographic Challenge - a Handbook about Japan, Brill 2008 (co-editor and author) and Human Resource Management in Ageing Societies, Palgrave 2008 (co-editor and author). His latest journal articles have appeared in the International Journal of Human Resource Management, Social Science Japan Journal, The Japanese Economy and Journal of Social Policy. A forthcoming book chapter on changes in Japanese, Korean and Taiwanese employment systems is in the Oxford Handbook of Employment Relations: Comparative Employment Systems. Since April 2011, Harald has been co-editor of Japan Forum.