Tarifas e Quotas: Uma Análise com Teoria dos Jogos

André Luís Rossi de Oliveira

Brazilian Review of Econometrics, 1992, vol. 12, issue 2

Abstract: This paper tries to demonstrate that the traditional result of the equivalence of tariffs and quotas, as described in the theory of international trade, is no longer valid when we are in the context of finitely repeated games with average payoffs. In this way, we show that the tariffs game with average payoffs has subgame perfect equilibria on the payoffs possibilities frontier, while the only subgame perfect equilibrium of the quotas game is the repetition of the one shot Nash equilibrium. This leads us to the conclusion that, using whatever available definition, there is no equivalence of tariffs and quotas whem we think about the international trade as a finitelly repeated game with average payoffs. This result already exists in the literature for games with discounted payoffs.

Date: 1992
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