A country's stance on international trade is an important component of its economic welfare. Yet relatively little theoretical attention has been paid to developing accurate methods to assess trade policies, leaving practitioners and policy makers with ad hoc solutions that lack theoretical...

James Anderson has been a singular force in the research on tariffs versus quotas. In this book he demonstrates that in most reasonable circumstances, quotas are an inferior trade policy relative to import tariffs. He presents substantive new work on tariffs and quotas in imperfect competition...