The Journal of Business, Vol. 75, No. 1 (January 2002), pp. 33-66 (34 pages) Before establishing the next proposition I state the following lemma, which was established by Sobel (1984). It shows that ...

For investors who saw agreements to lower these barriers as a way to end the trade war, this week’s deal with Britain isn’t encouraging. On Thursday, Washington said “the U.K. will reduce or ...