We consider an Arrow-Debreu economy in which expected-utility-maximizing agents are sensitive to regret. According to regret theory, the marginal utility of their consumption is increasing in the maximum payoff that they could have obtained if they would have made another choice ex ante. We show that regret biases the optimal portfolio allocation towards assets that perform particularly well in...

This study quantitatively analyzes the general equilibrium effects of declines in world demand for tobacco products. The study finds that tobacco exports and production in the three developing countries, Malawi, Zimbabwe, and Turkey, would be badly hit if world tobacco prices fall due to the decline in tobacco demand. Moreover, for a given decrease in the world tobacco price, the more important...

this paper aims to analyze tariff protection policies in the agricultural sector of developing countries. the agricultural tariff structure in developing countries is characterized by: i) high average tariffs, ii) the existence of tariff escalation, iii) dispersion of nominal tariffs across tariff lines, and iv) a wide gap between average nominal tariffs and import-weighted average tariffs. con...

The cultural and creative industries are another fast-growing new industry after the information technology have become a major driving force in global international trade economic development. In this paper, index of “export complexity” is chosen to measure export complexity products China 42 representative countries selected by UNCTAD’s “Creative Economy” database for measurement comparative ...

in this study, which is in the course of help to the development of the export and the export marketing in the realm of the food industries, ten factors including the firms size, the export experience, the export stimuli, the export problems, the competitive advantages, the export commitment, the adaptation product strategy, the adaptation pricing strategy, direct export channel and overseas ad...

With the increasingly close trade between China and United States, a large number of soybeans grown in States were exported to Chinese market, volume gradually increased. After decades expansion, Sino-US agricultural has entered competitive situation. And frictions two countries have intensified since 2018 when imposed 25 percent tariff on imported from States. Taking export U.S. soybean as res...

The aim of this study is to examine the determinants Egyptian trade in general and rice particular with 11 rice-importing partner countries (Libya, Lebanon, Syria, Saudi Arabia, Sudan, Jordan, Turkey, United Kingdom, Ukraine, Belgium, Romania). To reach main goals study, gravity model was used figure out which factors had most impact on Egypt’s exports imports. Using annual data foreign agricul...

Agricultural production is subject to high risk associated with environmental and agro-ecological conditions. Farmers continuously make decisions to mitigate the various adversities. This study evaluates farm households’ willingness to pay for agricultural risk insurance intervention introduced in Ethiopia in 2009. A bidding game approach is used to elicit willingness-to-pay. We use a unique da...