It Takes Two: An Explanation for the Democratic Peace
AbstractThis paper provides a theoretical explanation for the democratic peace hypothesis (i.e., the observation that democracies rarely fight one another). We show that, when information asymmetries and strategic complements are present in the conflict resolution game, the strategic interaction between two democracies differs from that of any other dyad. In our model, the interaction of two democracies produces the highest probability that a conflict will be peacefully resolved. But, it takes two democracies for peace; a conflict involving only one democracy will not be resolved in a peaceful way more often than a conflict involving two nondemocratic regimes. (JEL: D82, D74) Copyright (c) 2004 by the European Economic Association.
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Bibliographic InfoArticle provided by MIT Press in its journal Journal of the European Economic Association.
Volume (Year): 2 (2004)
Issue (Month): 1 (03)
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Web page: http://www.mitpressjournals.org/jeea
Other versions of this item:
- Levy, Gilat & Razin, Ronny, 2004. "It takes two : an explanation of the democratic peace," Open Access publications from London School of Economics and Political Science http://eprints.lse.ac.uk/, London School of Economics and Political Science.
- Levy, Gilat & Razin, Ronny, 2003. "It Takes Two: An Explanation of the Democratic Peace," CEPR Discussion Papers 3947, C.E.P.R. Discussion Papers.
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
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e-89-7, Hoover Institution, Stanford University.
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- Lones Smith & Ennio Stacchetti, 2002. "Aspirational Bargaining," Game Theory and Information 0201003, EconWPA.
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