Uncertainty and the Properties of the Heckscher-Ohlin Model

Raveendra N. Batra
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Raveendra N. Batra: Southern Methodist University

Chapter 4 in The Pure Theory of International Trade Under Uncertainty, 1975, pp 63-85 from Palgrave Macmillan

Abstract: Abstract While establishing the validity of the Heckscher-Ohlin (H.O.) proposition in the presence of risk-averse behaviour by producers, we introduced a number of assumptions in addition to those which are usually maintained for this type of analysis. It is high time that we justify these assumptions, which required α, its probability distribution, and the producers’ attitudes towards risk to be the same in both countries. Our defence, of course, is the fact that without these assumptions the H.O. theorem may not hold in our stochastic model.

Keywords: International Trade; Home Country; Free Trade; Foreign Country; Factor Price (search for similar items in EconPapers)
Date: 1975
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-02208-3_4

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DOI: 10.1007/978-1-349-02208-3_4

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