Theory of International Trade: A Dual, General Equilibrium Approach (Cambridge Economic Handbooks)

by Avinash Dixit, Victor Norman

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This book expounds trade theory emphasizing that a trading equilibrium is general rather than partial, and is often best modelled using dual or envelope functions. This yields a compact treatment of standard theory, clarifies some errors and confusions, and produces some new departures. In particular, the book (i) gives unified treatments of comparative statics and welfare, (ii) sheds new light on the factor-price equalization issue, (iii) treats the modern specific-factor model in parallel with the usual Heckscher-Ohlin one, (iv) analyses the balance of payments in general equilibrium with flexible and fixed prices, (v) studies imperfect competition and intra-industry trade.

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Average Customer Review: 4 out of 5 stars

3 of 3 people found the following review helpful:

4 out of 5 stars

A good book for international trade, but not perfect, 2004-02-02
The book gets into rather good discusion of basic models, equilibrium and more advanced topics. The math level of the book is at a graduate level and many of the results are done with enough details, discussion and algebra. However, the book suffers from lack of algebra and enough reasoning in the first chapters where it is describing basic models. The notation of the book is sometimes confusing too (I think this problem exists in all of the books about international trade). Besides, the book is rather old and may be missing some topics. A complementarity text for this book is recommended.

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