... generality, the analysis presented here does offer some striking insights into the strategy of employing trade sanctions in IEAs: I find that the credible threat of imposing trade sanctions may ... the payoffs So any IEA with trade sanctions will principally impact on the gains from trade (arising from inter-firm competition) For signatories, the gains from trade increase in k, and so trade ... plug the trade leak They were, in Benedick's words, 'critical, since they constituted the only enforcement mechanism in the protocol.' The trade sanctions in the Montreal Protocol were thus intended...