Managed Trade with Imperfect Information
25 Pages Posted: 1 Mar 2010
Abstract
This article illustrates the importance of imperfect information in self-enforcing trade agreements. It shows that expected welfare is higher with current period uncertainty, and a high level of uncertainty may even undermine the need for a safeguard clause. These results were derived by extending the seminal paper by Bagwell and Staiger (The American Economic Review 80 (1990), 779–95) to account for current period uncertainty.
Suggested Citation: Suggested Citation
Hochman, Gal and Segev, Ella, Managed Trade with Imperfect Information. International Economic Review, Vol. 51, Issue 1, pp. 187-211, February 2010, Available at SSRN: https://ssrn.com/abstract=1560176 or http://dx.doi.org/10.1111/j.1468-2354.2009.00576.x
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