Abstract
In the context of an international duopoly with product differetiation and conjectural variations, this paper examines the equivalence of several policies that are designed so as to restrict domestic imports to a certain exogenous level and ranks them from the point of view of consumer prices, profits, and economic welfare. The particular value of conjectural variations and the slope of reaction curves are crucial for the ranking. The ranking on the basis of domestic welfare and world welfare is directly opposite to the ranking on the basis of foreign welfare. Tariffs and quotas are never equivalent in our model.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
