Stark, Oded; Kosiorowski, Grzegorz - In: East Asian Economic Review (EAER) 24 (2020) 3, pp. 207-235
Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a trembling trade as a situation in which gains from trade are less than losses in...