Optimal Tariff: Untold

Business & Finance, Economics, Theory of Economics
Cover of the book Optimal Tariff: Untold by Hak Choi, Hak Choi
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Author: Hak Choi ISBN: 1230002209241
Publisher: Hak Choi Publication: March 12, 2018
Imprint: Language: English
Author: Hak Choi
ISBN: 1230002209241
Publisher: Hak Choi
Publication: March 12, 2018
Imprint:
Language: English

What is optimal? It means something maximum or minimum, but of what? Optimal tariff of course does not mean the maximum of tariff. It means the tariff rate corresponding to the maximum of some objective variable. What is the objective variable? Some use social welfare, some use tariff revenue. This volume considers both, but also rejects both.

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What is optimal? It means something maximum or minimum, but of what? Optimal tariff of course does not mean the maximum of tariff. It means the tariff rate corresponding to the maximum of some objective variable. What is the objective variable? Some use social welfare, some use tariff revenue. This volume considers both, but also rejects both.

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