Appropriate assessment of the social value of market access is at the core of a broad range of inquiries in trade research. We propose a new approach based on a trade benefit function to obtain the shadow value of net imports. Our approach is in keeping with well-established trade welfare...

In many markets in developing countries, especially in remote areas, middlemen are thought to earn excessive profits. Non-profits come in to counter what is seen as middlemen's market power, and rich country consumers pay a "fair-trade" premium for products marketed by such non-profits. This...

In this paper, the theory of behavior under income uncertainty with many commodities is extended to allow for nonlinear budget constraints, where random variations in income induce simultaneous randomness in shadow prices. It is shown that (1) any change in the marginal (indirect) utility of...