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When can we do better than autarky?

Tian, Guoqiang and Zhang, Yuzhe (2013): When can we do better than autarky? Published in: Economics Letters

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Abstract

This paper provides a necessary and sufficient condition for the existence of nonautarkic contract in a risk sharing model with two-sided lack of commitment. Verifying the condition takes just one Guassian elimination of a matrix.

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