KOVENOCK, DAN; THURSBY, MARIE - In: Economics and Politics 4 (1992) 2, pp. 151-170
This paper analyzes GATT and its dispute settlement procedure (DSP) in the context of a supergame model of international trade featuring both explicit and implicit agreements. An explicit agreement, such as GATT, may be violated at some positive cost in addition to retaliatory actions that might...
