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- W2769058220 abstract "We develop a Ricardian market game to show that in non-Walrasian economies, the Law of Comparative Advantage (LCA) A la Ricardo-Haberler (1817; 1936) can fail. Trade is driven, not by comparative advantages, but by strategic behaviour. This leads to a new and somewhat surprising result: it is shown in a Ricardian economy that at equilibrium, by both exporting and importing goods in which they have a comparative disadvantage, countries can Pareto improve on when they specialise as per the LCA, which in turn Pareto dominates autarky." @default.
- W2769058220 created "2017-12-04" @default.
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- W2769058220 date "2017-11-19" @default.
- W2769058220 modified "2023-09-23" @default.
- W2769058220 title "Strategic Market Games and Ricardo" @default.
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