The Myth of Fair Prices: A Graphical Analysis
The issues of fair trade and in particular fair price policies, have been neglected in most international trade courses. The authors show how the latter can be explained to undergraduate students applying the simple graphical methods normally used in general equilibrium trade theory. They show that fair pricing strategies can be looked upon as a suboptimal device for redistributing the gains from trade as compared with a transfer of funds.
Volume (Year): 34 (2003)
Issue (Month): 3 (January)
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