Integrating the Global Preference Survey (GPS) and its data of unique scope on national preference structures in patience, risk attitude and reciprocity into a gravity framework, this paper is the first to explore a potential influence on international trade outcomes of economic and social preferences in a unified setting. Adding to the evidence on preferences’ importance for aggregate outcomes, the authors find marked differences in trade flows and relationships, both on the country-level and between bilateral partners. Their main results suggest that countries differing in their willingness to behave negatively reciprocal tend to trade significantly less amongst each other due to the destabilizing effect of unexpected punishments. On the other hand, countries that are patient or risk-averse tend to shift towards exporting more differentiated goods as opposed to homogeneous goods and vice versa. We propose term and risk transformation considerations as the driving mechanisms for this relationship.

将全球偏好调查（GPS）及其在耐心、风险态度和互惠等方面的国家偏好结构的独特范围数据整合到一个引力框架中，本文首次探讨了经济和社会偏好对国际贸易结果的潜在影响。统一设置。除了偏好对总体结果的重要性的证据之外，作者还发现国家层面和双边合作伙伴之间的贸易流量和关系存在显着差异。他们的主要结果表明，由于意外惩罚的不稳定影响，在消极互惠行为上意愿不同的国家之间的贸易往往显着减少。另一方面，有耐心或规避风险的国家倾向于出口更多差异化的商品，而不是同质商品，反之亦然。我们建议将期限和风险转换考虑因素作为这种关系的驱动机制。