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Uncertainty and the Properties of the Heckscher-Ohlin Model

In: The Pure Theory of International Trade Under Uncertainty

Author

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  • Raveendra N. Batra

    (Southern Methodist University)

Abstract

While establishing the validity of the Heckscher-Ohlin (H.O.) proposition in the presence of risk-averse behaviour by producers, we introduced a number of assumptions in addition to those which are usually maintained for this type of analysis. It is high time that we justify these assumptions, which required α, its probability distribution, and the producers’ attitudes towards risk to be the same in both countries. Our defence, of course, is the fact that without these assumptions the H.O. theorem may not hold in our stochastic model.

Suggested Citation

  • Raveendra N. Batra, 1975. "Uncertainty and the Properties of the Heckscher-Ohlin Model," Palgrave Macmillan Books, in: The Pure Theory of International Trade Under Uncertainty, chapter 4, pages 63-85, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02208-3_4
    DOI: 10.1007/978-1-349-02208-3_4
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