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Psychology and opposition to free trade

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  • KEMP, SIMON
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    Abstract

    This 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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    File URL: http://journals.cambridge.org/abstract_S1474745606003089
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    Bibliographic Info

    Article provided by Cambridge University Press in its journal World Trade Review.

    Volume (Year): 6 (2007)
    Issue (Month): 01 (March)
    Pages: 25-44

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    Handle: RePEc:cup:wotrrv:v:6:y:2007:i:01:p:25-44_00

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    Cited by:
    1. Jacob, Robert & Christandl, Fabian & Fetchenhauer, Detlef, 2011. "Economic experts or laypeople? How teachers and journalists judge trade and immigration policies," Journal of Economic Psychology, Elsevier, vol. 32(5), pages 662-671.
    2. Haferkamp, Alexandra & Fetchenhauer, Detlef & Belschak, Frank & Enste, Dominik, 2009. "Efficiency versus fairness: The evaluation of labor market policies by economists and laypeople," Journal of Economic Psychology, Elsevier, vol. 30(4), pages 527-539, August.
    3. Barbara Dluhosch & Daniel Horgos, 2013. "Trading Up the Happiness Ladder," Social Indicators Research, Springer, vol. 113(3), pages 973-990, September.
    4. Dominik H. Enste & Alexandra Haferkamp & Detlef Fetchenhauer, 2009. "Unterschiede im Denken zwischen Ökonomen und Laien - Erklärungsansätze zur Verbesserung der wirtschaftspolitischen Beratung," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 10(1), pages 60-78, 02.
    5. Lotz, Sebastian & Fix, Andrea R., 2013. "Not all financial speculation is treated equally: Laypeople’s moral judgments about speculative short selling," Journal of Economic Psychology, Elsevier, vol. 37(C), pages 34-41.
    6. Godoy, Ricardo & Zeinalova, Elizabeth & Reyes-García, Victoria & Huanca, Tomás & Kosiewicz, Holly & Leonard, William R. & Tanner, Susan, 2010. "Does civilization cause discontentment among indigenous Amazonians? Test of empirical data from the Tsimane' of Bolivia," Journal of Economic Psychology, Elsevier, vol. 31(4), pages 587-598, August.
    7. Simon Kemp, 2008. "Lay attitudes to trade with low-wage countries," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 335-343, April.

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