Psychology and opposition to free trade
AbstractThis paper reviews psychological reasons why the enthusiasm of the general public for free international trade might be less than that of the economist. Six specific reasons are advanced: (1) lay views of utility emphasize employment over consumption; (2) status quo bias results from loss aversion; (3) people think altruistically but parochially; (4) people often consider fairness in bargaining situations; (5) people may hold inappropriate fixed pie beliefs; and (6) people may misunderstand Ricardo s principle of comparative advantage. The reasons vary in their apparent rationality and appear to operate in concert rather than independently.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal World Trade Review.
Volume (Year): 6 (2007)
Issue (Month): 01 (March)
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