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Why Countries Trade: The Theory of Comparative Advantage
Debaere, PeterTechnical Note DARDEN-G-0594-EThe theory of comparative advantage is a surprisingly common-sense idea, but it is often misunderstood. In this technical note, the basic theory of comparative advantage is presented with an example that drives home its logic when there are technological differences between countries. In addition, we look at some extensions that specify other sources of comparative advantage, as well as some related theories.Starting at €8.20