The Torrens–Ricardo Principle of Comparative Advantage: an Extension*

B-Tier
Journal: Review of International Economics
Year: 2006
Volume: 14
Issue: 3
Pages: 466-477

Authors (2)

Murray C. Kemp Masayuki Okawa (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The Torrens–Ricardo Principle of Comparative Advantage rests on the special assumptions that, both in autarky and under free trade, all countries can produce all commodities and that, in autarkic equilibrium, each country consumes all producible commodities, at least incipiently. We reformulate the Principle to accommodate alternative assumptions. In our reformulation the emphasis is on marginal rates of substitution, not on the traditional marginal rates of transformation in production. It is shown in effect that, in existing formulations, the supply side is assigned a role that it can rarely sustain.

Technical Details

RePEc Handle
repec:bla:reviec:v:14:y:2006:i:3:p:466-477
Journal Field
International
Author Count
2
Added to Database
2026-01-25