When a racing driver steers a car around a sharp bend, there is a trade-off between speed and accuracy, in that high speed can lead to a skid whereas a low speed increases lap time, both of which can adversely affect the driver's payoff function. While speed-accuracy trade-offs have been studied extensively, their susceptibility to risk sensitivity is much less understood, since most theories o...

INTRODUCTION World trade in agricultural commodities continues to grow. As agricultural trade expands, it increases the risk of introducing exotic insects into new areas where they may become plant pests. The establishment of new pests can be costly due to increased crop damage, control programs, and quarantine restrictions on trade. Quarantine or phytosanitary treatments such as cold, fumigati...

Trade-offs occur frequently within sociotechnical systems and allow the system to maintain its output in the face of the variable performance of its constituent components. Trade-offs also occur between systems that must interact with each other. Some of these intersystemic tradeoffs may threaten the integrity of one or both systems particularly if the allowable magnitude of the trade-off is no...

Existing studies of the trade-conflict relationship focus primarily on dyadic trade and its implications for the opportunity cost of conflict. Most states maintain economic relations with numerous partners, yet few studies have examined the effects of extradyadic trade on dyadic conflict. In an influential discussion of economic interdependence, Albert Hirschman ([1945] 1980) draws attention to...

In previous research, aggregation of returns has been found as a way to counteract the risk averse behavior that is the result of investors’ myopia. This paper expands the study of aggregation by analyzing its effect on forward looking probabilities. Namely, through the disaggregation of future information, subjects become myopic and trade with varying risk preferences. In an experimental marke...

Already, the formation of the WTO did not halt the proliferation of new RTAs. There has been an enormous increase in Preferential Trade Agreements (PTAs) in the last twenty years. In fact, RTAs legitimacy is well recognised under GATT/WTO. By their very nature, such arrangements favour imports from members of the grouping and discriminate against imports from other countries. This departure fro...

Preferential trade agreements (PTAs) on services have proliferated since 2000. This working paper briefly presents the expansion of the dataset initially developed in Marchetti and Roy (2008). The data permits to assess the extent to which market access commitments undertaken by WTO Members in PTAs go beyond GATS commitments and offers made in the context of the Doha Development Agenda. The dat...

This study is an empirical attempt to find out whether under sanctions Iran’s trade direction has shifted away from Europe (trade policy of de-Europeanization) towards Asia (trade policy of Asianization). The analysis is conducted using a panel-gravity trade model to analyze bilateral trade pattern between Iran and 50 countries from the EU and Asia during the period 2006–2013. To this end, the ...

the world health organization’s (who’s) world health report 2010, “health systems financing, the path to universal coverage,” promoted universal health coverage (uhc) as an aspirational objective for country health systems. yet, in addition to the dimensions of services and coverage, distribution of coverage in the population, and financial risk protection highlighted by the report, the conside...

The theory of trade-off between starvation and predation risks predicts a decrease in body mass in order to improve flight performance when facing high predation risk. To date, this trade-off has mainly been validated in passerines, birds that store limited body reserves for short-term use. In the largest avian species in which the trade-off has been investigated (the mallard, Anas platyrhyncho...