We analyze the impact of market structure on the trade performance of South Korea, Taiwan and Japan. Korea has many large, vertically-integrated business groups known as chaebol, whereas business groups in Taiwan are smaller and more specialized in the production of intermediate inputs. We test...

The interaction bietween knowledge and belief in a temporal context is analyzed. An axiomatic formulation and semantic characterization of the principle of belief persistency implied by the standard conditionalization rule are provided. This principle says that an individual does not change her...

We develop a procedure to rank-order countries and commodities using dis-aggregated American imports data. We find strong evidence that both countries and commodities can be ranked, consistent with the ""produce cycle"" hypothesis. Countries habitually begin to export goods to the United States...

We provide a self-contained, selective overview of the literature on the role of knowledge and beliefs in game theory. We focus on recent results on the epistemic foundations of solution concepts, including correlated equilibrium, rationalizability in dynamic games, forward and backward induction.