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Dynamic tariffs with asymmetric information

In: International Trade Agreements and Political Economy

Author

Listed:
  • Raymond Riezman

    (University of Iowa, Iowa City, IA 52242, USA)

Abstract

Recent developments in dynamic game theory are applied to determine when two countries can sustain freer trade given that they determine trade policies non-cooperatively. Countries know their own level of protection, but not the other country's level of protection. Using import trigger strategies, cooperation (in the form of low tariffs) can be supported, although there are periodic reversionary (high tariff) episodes. However, if terms of trade trigger strategies are used, cooperation does not occur.

Suggested Citation

  • Raymond Riezman, 2013. "Dynamic tariffs with asymmetric information," World Scientific Book Chapters, in: Raymond Riezman (ed.), International Trade Agreements and Political Economy, chapter 6, pages 67-83, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789814390125_0006
    as

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