If governments make trade policies based on national economic welfare, is the problem of trade warfare still
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If governments make trade policies based on national economic welfare, is the problem of trade warfare still represented by a Prisoner’s Dilemma game as in Table 10-3? What is the equilibrium solution to the game if governments formulate policy in this way? Would they ever choose the strategy of protectionism? LO.1
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International Trade Theory And Policy
ISBN: 978-1292417233
12th Global Edition
Authors: Paul Krugman ,Maurice Obstfeld ,Marc Melitz
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