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An Adverse Social Welfare Effect of a Doubly Gainful Trade

Oded StarkEwa ZawojskaWilhelm KohlerKrzysztof Szczygielski

出版	SSRN, 2018
URL	http://books.google.com.hk/books?id=3M8RvwEACAAJ&hl=&source=gbs_api

註釋

Acknowledging individuals' distaste for low relative income renders trade less appealing when trade is viewed as a technology that integrates economies by merging separate social spheres into one. We define a “trembling trade” as a situation in which gains from trade are overtaken by losses of relative income, with the result that global social welfare is reduced. A constructive example reveals that a “trembling trade” can arise even when trade is doubly gainful in that it increases the income of every individual and narrows the income gap between the trading populations.