Multilateral agricultural trade negotiations: A non-cooperative and cooperative game approach
Agricultural trade negotiations are modelled using a non-cooperative and cooperative game theoretic framework. The model distinguishes between the European Union (EU), the United States (US) and a politically passive rest-of-the-world. Particular emphasis is placed on the effect of the exchange rate on the equilibrium outcome of the games. Through the use of intra-country compensation, the analysis shows that the US is able to convince the EU to adopt modest reform. With inter-country compensation the EU chooses a decreased level of protection, but does not choose completely free trade. © Walter de Gruyter, Berlin.
Publication Source (Journal or Book title)
European Review of Agricultural Economics
Kennedy, P., Von Witzke, H., & Roe, T. (1996). Multilateral agricultural trade negotiations: A non-cooperative and cooperative game approach. European Review of Agricultural Economics, 381-399. https://doi.org/10.1093/erae/23.4.381