Some Welfare Implications of 'Who Goes First?' in WTO Negotiations

Basudeb Guha-Khasnobis

No DP2003-63, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We envisage a logical framework to explain why some trade negotiations are delayed because parties differ on who should 'go first'. In our model, there are substantive welfare implications depending on which party sets tariff rates (or subsidies) first in a strategic optimization exercise. When knowledge about cost levels are incomplete or missing, and hence must be guessed with a probability, the chances of conflict regarding who goes first are extremely high in the situation modeled in this paper.

Keywords: International trade; Negotiation; Public welfare; Subsidies (search for similar items in EconPapers)
Date: 2003
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