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Trade Gains in Chaotic Equilibria
Author(s) -
Kemp Murray C.,
Shimomura Koji
Publication year - 1999
Publication title -
review of international economics
Language(s) - Uncategorized
Resource type - Journals
SCImago Journal Rank - 0.513
H-Index - 58
eISSN - 1467-9396
pISSN - 0965-7576
DOI - 10.1111/1467-9396.00172
Subject(s) - economics , overlapping generations model , chaotic , pareto principle , pareto optimal , mathematical economics , microeconomics , mathematics , multi objective optimization , mathematical optimization , operations management , management
It is shown by means of an overlapping‐generations (OLG) example that free international trade may be both deterministically chaotic and gainful in the sense of Pareto to a participating country.
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