The Multinational Firm
构建了一个包含直接投资的简单一般均衡贸易模型，将内部化决策内生化，认为简单合同无法处理复杂安排时需内部化，并分析了不确定性及要素禀赋对直接投资的影响。
Direct investment is incorporated into a simple general equilibrium model of international trade. The analysis focuses on an attempt to endogenize the internalization decision. It is argued that a reasonable approach assumes that arm's length contracts must be "simple" so that "complex" arrangements require internalization. The model relates direct investment to the degree of underlying uncertainty and to fundamental trade determinants, such as relative factor endowments. The behavior of the model contrasts sharply with that of the Markusen-Helpman model, which takes internalization for granted.