International Robust Disagreement
研究了一个两国两商品经济中的均衡,其中代理人对一种消费品有相反的偏好偏向且担心模型误设,发现关于禀赋增长前景的分歧是这类经济体的持久内生结果。
We characterize the equilibrium of a two-country, two-good economy in which agents have opposite preference bias toward one of the two consumption goods and fear model misspecification. We document that disagreement about endowments' growth prospects is a persistent endogenous outcome of this class of economies.