Coordination Under Uncertain Conditions: An Analysis of the Fukushima Catastrophe

17 Pages Posted: 28 Oct 2011

Date Written: October 28, 2011

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.”

Keywords: Fukushima catastrophe, nuclear power, earthquake and tsunami

JEL Classification: L22, L43, L94

Suggested Citation

Aoki, Masahiko and Rothwell, Geoffrey, Coordination Under Uncertain Conditions: An Analysis of the Fukushima Catastrophe (October 28, 2011). ADBI Working Paper 316. Available at SSRN: https://ssrn.com/abstract=1950572 or http://dx.doi.org/10.2139/ssrn.1950572

Masahiko Aoki (Contact Author)

Stanford University ( email )

E314 Encina Hall
Stanford, CA 94305-6015
United States
415-723-3975 (Phone)
415-725-5702 (Fax)

HOME PAGE: http://www.stanford.edu/~aoki

Geoffrey Rothwell

OECD ( email )

Nuclear Energy Agency
Antibes, Alps-Maritimes 06600
France
33-(0)6-81211816 (Phone)

HOME PAGE: http://www-econ.stanford.edu/faculty/Rothwell_CV.pdf

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