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Why Do Nations Behave Strategically? : A Game Theoretic Analysis of GATT Article 23

Author

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  • Gi-Hong Kim

    (Korea Institute for Industrial Economics and Trade)

Abstract

The purpose of this paper is to explain why nations behave strategically in the multilateral stage of GATT dispute settlement procedures. We provide two game models: One is a complete information model and the other, an incomplete information model. We show the following points: First, national size is important in explaining the nation's ex -post behaviors in the multilateral stage. Second, reputation loss is also important. Third, industry characteristics are not important. Some empirical evidence including the regression analysis is provided. As a conclusion, it is shown that the most important factor is the reputation loss accompanying unauthorized retaliation.

Suggested Citation

  • Gi-Hong Kim, 2002. "Why Do Nations Behave Strategically? : A Game Theoretic Analysis of GATT Article 23," Korean Economic Review, Korean Economic Association, vol. 18, pages 129-157.
    • Handle: RePEc:kea:keappr:ker-200206-18-1-07
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    More about this item

    Keywords

    GATT; dispute settlement procedures; reputation loss;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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