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Managed Trade With Imperfect Information

Author

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  • Gal Hochman
  • Ella Segev

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. Copyright (2010) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Suggested Citation

  • Gal Hochman & Ella Segev, 2010. "Managed Trade With Imperfect Information," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 51(1), pages 187-211, February.
    • Handle: RePEc:ier:iecrev:v:51:y:2010:i:1:p:187-211
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    Cited by:

    1. Staiger, Robert & Bagwell, Kyle & Bown, Chad, 2015. "Is the WTO Passé?," CEPR Discussion Papers 10672, C.E.P.R. Discussion Papers.
    2. Kyle Bagwell & Chad P. Bown & Robert W. Staiger, 2016. "Is the WTO Passé?," Journal of Economic Literature, American Economic Association, vol. 54(4), pages 1125-1231, December.
    3. Jeanine Miklós-Thal & Catherine Tucker, 2019. "Collusion by Algorithm: Does Better Demand Prediction Facilitate Coordination Between Sellers?," Management Science, INFORMS, vol. 65(4), pages 1552-1561, April.
    4. James C. Hartigan, 2016. "In or Out? Standards, Discretion, Compliance and the WTO," The World Economy, Wiley Blackwell, vol. 39(6), pages 738-754, June.

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