In this paper we model the pattern of international trade, and technological innovation and imitation between industrialized and developing regions, when preferences are nonhomothetic. By and large, models of the dynamics of North-South trade impose the assumption of unit income elasticity for all consumption goods. We relax this assumption and incorporate the insight from Engel’s Law: The budg...

This paper describes the results of using a new computable general equilibrium model for the European Union that incorporates local and transboundary externalities to evaluate the effects of trade policy reform. In contrast to all past theoretical and empirical research, this model includes the morbidity effects of three criteria air pollutants as nonseparable arguments of household preferences...

I decision making under risk involves two dimensions: time preferences and risk preferences. This paper focuses on the impact of time on risk preferences, independent of the intertemporal trade-off of outcomes, i.e., time preferences. It reports the results of an experimental study that examines how delayed resolution and payment of risky options influence individual choice. We used a simple ex...

Abstract When do people care about relative gains in trade? Much of the international relations scholarship—and much political rhetoric on trade—would lead us to expect support for a trade policy that benefits ourselves more than it others. Yet, large interdisciplinary literature also points prevalence and importance other-regarding preferences, rendering conventional wisdom contestable. We inv...

1846 Countries in Sub-Saharan Africa won fewer concessions on their exports in the Uruguay Round than did other developing countries, but they still emerged facing fewer or lower restrictions than others. They should be more active in the next Round, focusing negotiations not on trade preferences but on bound most-favored-nation tariff reductions. Summary findings Openness and liberal trade pol...

Prior laboratory experiments have studied general equilibrium economies constructed from “induced preferences” for artificial goods. We introduce new methods that allow us to study economies constructed instead from subjects’ actual, “homegrown” preferences. Our subjects reveal their preferences by choosing portfolios of Arrow securities from budget lines through fixed endowments for a series o...

Recent formulations of sexual selection theory emphasize how mate choice can be affected by environmental factors, such as predation risk and resource quality. Women vary greatly in the extent to which they prefer male masculinity and this variation is hypothesized to reflect differences in how women resolve the trade-off between the costs (e.g. low investment) and benefits (e.g. healthy offspr...

Background Respiratory Syncytial Virus (RSV) infects 70% of infants under one year, and is a leading cause of infant bronchiolitis-related hospitalizations [1,2]. RSV is a relatively benign, temporary condition, and therefore likely to have limited impact on quality adjusted life years, however, it has potential for long-term consequences such as asthma and wheeze [3,4]. Preferences related to ...