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Trade Wars, Trade Negotiations and Applied Game Theory

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  • Harrison, Glenn W
  • Rutstrom, E E

Abstract

The authors propose a methodological extension of quantitative "cost of protection" analyses to consider elementary game-theoretic aspects of the policy process. They illustrate these ideas by evaluating size propositions: nations can "win" trade wars; multilateral negotiations that "merely preserve the status quo" have some value; the terms of the U.S.-Canada free trade agreement can be strategically rationalized; threat points matter in trade negotiations; the negotiating practice of comparing the "value" of one country's concessions with another can dramatically influence bargaining outcomes; and that the substance of multilateral negotiations can be achieved by bilateral negotiations between the bigger countries. Copyright 1991 by Royal Economic Society.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 101 (1991)
Issue (Month): 406 (May)
Pages: 420-35

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Handle: RePEc:ecj:econjl:v:101:y:1991:i:406:p:420-35

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Cited by:
  1. Runge, C. Ford, 1992. "Environmental Effects Of Trade In The Agricultural Sector: A Case Study," Working Papers 14449, University of Minnesota, Center for International Food and Agricultural Policy.
  2. de Melo, Jaime & Tarr, David, 1995. "VERs Under Imperfect Competition and Foreign Direct Investment: A Case Study of the US-Japan Auto VER," CEPR Discussion Papers 1173, C.E.P.R. Discussion Papers.
  3. Furusawa, Taiji & Wen, Quan, 2002. "Disagreement points in trade negotiations," Journal of International Economics, Elsevier, vol. 57(1), pages 133-150, June.
  4. Vanzetti, David, 1996. "The next round: Game theory and public choice perspectives," Food Policy, Elsevier, vol. 21(4-5), pages 461-477.
  5. Harrison, Glenn W. & Martínez-Correa, Jimmy & Swarthout, J. Todd, 2013. "Inducing risk neutral preferences with binary lotteries: A reconsideration," Journal of Economic Behavior & Organization, Elsevier, vol. 94(C), pages 145-159.
  6. Makki, Shiva S. & Tweeten, Luther, 1994. "Agricultural trade negotiations as a strategic game," Agricultural Economics: The Journal of the International Association of Agricultural Economists, International Association of Agricultural Economists, vol. 10(1), January.
  7. Rutstrom, E. Elisabet & Redmond, Willie J., 1997. "A quantification of lobbying benefits with an application to the common agricultural policy," Journal of Policy Modeling, Elsevier, vol. 19(6), pages 635-659, December.
  8. Halkos, George, 1994. "A game-theoretic approach to pollution control problems," MPRA Paper 33259, University Library of Munich, Germany.

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