The Role of Information in Trade Theory
In the conventional theory of international trade it is assumed that, world-wide, technical information available to one producer is freely and completely available to every other actual or potential producer; this is the assumption of open access. Evidently the assumption lies at one extreme of a continuum of possibilities. At the other extreme, world-wide, technical information is available to only one producer in each industry; this is the assumption of closed access.
KeywordsInternational Trade Technical Information Conventional Theory Marginal Revenue Trade Theory
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