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The Structure and Performance of the World Market in a Cobb-Douglas Example

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Author Info
Ben Zissimos () (Department of Economics, Vanderbilt University)

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Abstract

In an international trading economy where countries set tariffs strategically, modeled using a Cobb-Douglas example, this paper studies the relationship between the structure and the performance of the world market. Using new results from monotone comparative statics in a Shapley-Shubik market game, replication of such an international trading economy is studied. It is shown that, as the economy is replicated, the equilibrium converges monotonically towards the equilibrium of a competitive equilibrium model of international trade. The distributional implications of replication are also evaluated.

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File URL: http://www.vanderbilt.edu/Econ/wparchive/workpaper/vu06-w23.pdf
File Format: application/pdf
File Function: First version, 2006
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Publisher Info
Paper provided by Department of Economics, Vanderbilt University in its series Working Papers with number 0623.

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Date of creation: Nov 2006
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Handle: RePEc:van:wpaper:0623

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Related research
Keywords: Efficiency; market structure; market game; tariff war; welfare;

Find related papers by JEL classification:
F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
F15 - International Economics - - Trade - - - Economic Integration
C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games

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References listed on IDEAS
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  1. Kyle Bagwell & Robert W. Staiger, 2004. "The Economics of the World Trading System," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262524341, January.
  2. Rabah Amir, 2000. "On the Effects of Entry in Cournot Markets," Econometric Society World Congress 2000 Contributed Papers 1475, Econometric Society. [Downloadable!]
    Other versions:
  3. Barbara J. Spencer & James A. Brander, 1982. "Tariff Protection and Imperfect Competition," Working Papers 517, Queen's University, Department of Economics.
  4. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-68, October. [Downloadable!] (restricted)
  5. Rabah Amir, 2000. "Market Structure, Scale Economies and Industry Performance," Discussion Papers 00-08, University of Copenhagen. Department of Economics. [Downloadable!]
    Other versions:
  6. Bloch, Francis & Ghosal, Sayantan, 1997. "Stable Trading Structures in Bilateral Oligopolies," Journal of Economic Theory, Elsevier, vol. 74(2), pages 368-384, June. [Downloadable!] (restricted)
  7. Kyle Bagwell & Petros C. Mavroidis & Robert W. Staiger, 2003. "The Case for Auctioning Countermeasures in the WTO," NBER Working Papers 9920, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  8. Syropoulos, Constantinos, 2002. "Optimum Tariffs and Retaliation Revisited: How Country Size Matters," Review of Economic Studies, Blackwell Publishing, vol. 69(3), pages 707-27, July.
  9. Robert W. Staiger, 1994. "International Rules and Institutions for Trade Policy," NBER Working Papers 4962, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. repec:att:wimass:1920314 is not listed on IDEAS
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