Bachelor of Arts (Philosophy, Political & Economics) Oxford University, 1968. Master of Arts University Essex, 1970. Master of Arts, Doctor of Philosophy University Rochester, 1972, 1977.
Instructor, Assistant Professor, Rice University, Houston, Texas, 1974-1977, 1977-1979. Visiting Assistant Professor, Assistant Professor, Northwestern University, 1978-1979, 1979-1982. Association Professor of Economics, Purdue University, W. Lafayette, Indiana, United States of America.
My initial research involved modelling international exchange in a technologicallyuncertain environment using the standard Arrow-Pratt portfolio theory. By emphasising trade in assets with random returns, rather than trade in physical goods, this provided an alternative perspective to the earlier literature (which implicitly treated trade in physical goods as central). My 1983 paper contributes to literature integrating the two perspectives.
See also my two survey papers. My current interests include the implications for international trade theory of implicit uncertainty about behaviour of other economic agents (as well as technological uncertainty). Such an issue cannot arise within a narrow definition of perfectly competitive trade. However, the growth (outside the international trade field) of research focussing on contracts, incentives, property rights, repeated games, etc., plus the greater role (within trade theory) of models of imperfect competition and strategically endogenous government intervention, etc., invite a deeper concern over the potential role of, for example, nation-specific social norms in relation to topics such as comparative advantage, trade dependency, and trade-related intervention.