@article{dimaioUncertaintyOptimalLevel2012,
  title = {Uncertainty and the Optimal Level of Specialization},
  author = {Di Maio, Michele and Valente, Marco},
  date = {2012-09},
  journaltitle = {Research in Economics},
  volume = {66},
  pages = {213--218},
  issn = {1090-9443},
  doi = {10.1016/j.rie.2012.04.001},
  url = {https://doi.org/10.1016/j.rie.2012.04.001},
  abstract = {Using a two-sector one-factor comparative-advantage-based trade model under uncertainty, we show that (1) to specialize according to comparative advantages may be sub-optimal in a multi-period setting; (2) there are conditions under which, even if agents are risk-neutral, the decentralized solution is inefficient and characterized by overspecialization. ⺠Comparative-advantage-induced full specialization may be sub-optimal in a multi-period setting. ⺠The centralized and the decentralized optimal level of specialization are different in a multi-period setting. ⺠The decentralized optimal level of specialization is inefficient and characterized by overspecialization.},
  keywords = {*imported-from-citeulike-INRMM,~INRMM-MiD:c-10618916,competition,economics,local-over-complication,overspecialization,uncertainty},
  number = {3}
}

{"_id":"DPLjjEQSSth7Zc4ar","bibbaseid":"dimaio-valente-uncertaintyandtheoptimallevelofspecialization","authorIDs":[],"author_short":["Di Maio, M.","Valente, M."],"bibdata":{"bibtype":"article","type":"article","title":"Uncertainty and the Optimal Level of Specialization","author":[{"propositions":[],"lastnames":["Di","Maio"],"firstnames":["Michele"],"suffixes":[]},{"propositions":[],"lastnames":["Valente"],"firstnames":["Marco"],"suffixes":[]}],"date":"2012-09","journaltitle":"Research in Economics","volume":"66","pages":"213–218","issn":"1090-9443","doi":"10.1016/j.rie.2012.04.001","url":"https://doi.org/10.1016/j.rie.2012.04.001","abstract":"Using a two-sector one-factor comparative-advantage-based trade model under uncertainty, we show that (1) to specialize according to comparative advantages may be sub-optimal in a multi-period setting; (2) there are conditions under which, even if agents are risk-neutral, the decentralized solution is inefficient and characterized by overspecialization. ⺠Comparative-advantage-induced full specialization may be sub-optimal in a multi-period setting. ⺠The centralized and the decentralized optimal level of specialization are different in a multi-period setting. ⺠The decentralized optimal level of specialization is inefficient and characterized by overspecialization.","keywords":"*imported-from-citeulike-INRMM,~INRMM-MiD:c-10618916,competition,economics,local-over-complication,overspecialization,uncertainty","number":"3","bibtex":"@article{dimaioUncertaintyOptimalLevel2012,\n title = {Uncertainty and the Optimal Level of Specialization},\n author = {Di Maio, Michele and Valente, Marco},\n date = {2012-09},\n journaltitle = {Research in Economics},\n volume = {66},\n pages = {213--218},\n issn = {1090-9443},\n doi = {10.1016/j.rie.2012.04.001},\n url = {https://doi.org/10.1016/j.rie.2012.04.001},\n abstract = {Using a two-sector one-factor comparative-advantage-based trade model under uncertainty, we show that (1) to specialize according to comparative advantages may be sub-optimal in a multi-period setting; (2) there are conditions under which, even if agents are risk-neutral, the decentralized solution is inefficient and characterized by overspecialization. ⺠Comparative-advantage-induced full specialization may be sub-optimal in a multi-period setting. ⺠The centralized and the decentralized optimal level of specialization are different in a multi-period setting. ⺠The decentralized optimal level of specialization is inefficient and characterized by overspecialization.},\n keywords = {*imported-from-citeulike-INRMM,~INRMM-MiD:c-10618916,competition,economics,local-over-complication,overspecialization,uncertainty},\n number = {3}\n}\n\n","author_short":["Di Maio, M.","Valente, M."],"key":"dimaioUncertaintyOptimalLevel2012","id":"dimaioUncertaintyOptimalLevel2012","bibbaseid":"dimaio-valente-uncertaintyandtheoptimallevelofspecialization","role":"author","urls":{"Paper":"https://doi.org/10.1016/j.rie.2012.04.001"},"keyword":["*imported-from-citeulike-INRMM","~INRMM-MiD:c-10618916","competition","economics","local-over-complication","overspecialization","uncertainty"],"downloads":0},"bibtype":"article","biburl":"https://tmpfiles.org/dl/58794/INRMM.bib","creationDate":"2020-07-02T22:41:05.392Z","downloads":0,"keywords":["*imported-from-citeulike-inrmm","~inrmm-mid:c-10618916","competition","economics","local-over-complication","overspecialization","uncertainty"],"search_terms":["uncertainty","optimal","level","specialization","di maio","valente"],"title":"Uncertainty and the Optimal Level of Specialization","year":null,"dataSources":["DXuKbcZTirdigFKPF"]}