The authors gratefully acknowledge the helpful comments of Ngo Van Long and Henry Y. Wan, Jr.
The Gain from International Trade in Pool Goods and Private Goods
Article first published online: 13 JAN 2014
© 2014 John Wiley & Sons Ltd
Review of International Economics
Volume 22, Issue 1, pages 167–169, February 2014
How to Cite
Fishburn, G. and Kemp, M. C. (2014), The Gain from International Trade in Pool Goods and Private Goods. Review of International Economics, 22: 167–169. doi: 10.1111/roie.12103
- Issue published online: 13 JAN 2014
- Article first published online: 13 JAN 2014
It is well known that perfectly competitive free trade is potentially beneficial for all countries if all goods are both rivalrous and excludable in consumption (“private goods”) and recently (2011) the proposition has been modified to accommodate non-rivalrous and non-excludable goods (“public goods”), as well as non-rivalrous and excludable goods (“club goods”). In the present paper the proposition is modified again, to accommodate rivalrous and non-excludable goods (“pool goods”). The primary focus is on ocean fisheries, access to which is shared (not necessarily equally) by all countries. However the central proposition to be established is valid for all international pool goods.