
The welfare effects of international trade with optimistic and pessimistic managers
Blanchard, Michel; Peltrault, Frédéric (2004), The welfare effects of international trade with optimistic and pessimistic managers, Economics Bulletin, 6, 15, p. 1-10
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Type
Article accepté pour publication ou publiéDate
2004Journal name
Economics BulletinVolume
6Number
15Publisher
Vanderbilt University
Pages
1-10
Metadata
Show full item recordAbstract (EN)
This paper investigates the welfare effects of international trade when technological idiosyncratic risk is distorted by optimistic and pessimistic managers. We show that free trade always improves the ex-ante welfare but sometimes lowers the ex-post welfare. Free trade commitment can be regretted ex-post.Subjects / Keywords
Optimism; Free trade commitment; Trade losses; Idiosyncratic riskRelated items
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Blanchard, Michel; Peltrault, Frédéric (2005) Article accepté pour publication ou publié