A note on 'optimal strategic trade policy under asymmetric information'

• 成果类型: Article
• 署名作者: Okajima, Y
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(02)00074-0
• 发表日期: 2003
• 页码: 243-246
• 关键词: separating equilibrium; uniform policy

摘要

In [Journal of International Economics 36 (1994) 333], Larry Qiu developed a model of an optimal export promotion policy under asymmetric information. In the Bertrand competition, he shows that the expected welfare is larger under the uniform policy than under the separation-inducing policy. Actually, in this note, we show that no such separating equilibrium exists. Although his main conclusion in the Bertrand competition analysis is unaffected, his reasoning in the paper is misleading. (C) 2002 Elsevier B.V. All rights reserved.