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- W2804989069 abstract "Three core normative propositions of the theory of international trade have been established in the context of finite competitive economies of the Walras−Arrow−Debreu or McKenzie (WADM) type. Whether the propositions survive the recognition that economies might last forever, with overlapping generations (OLGs) of mortal individuals and intergenerational bequests, is still unknown. In the present chapter, it is shown that none of the core propositions survives the recognition of intergenerational bequests. It is also noted that, if a particular tailor-made assumption is introduced, all three propositions survive." @default.
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- W2804989069 date "2018-01-01" @default.
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- W2804989069 title "The Rise and Fall of Normative Trade Theory" @default.
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- W2804989069 doi "https://doi.org/10.1007/978-981-10-8615-1_2" @default.
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