It Takes Two: An Explanation of the Democratic Peace
AbstractIn this Paper, we provide an explanation of the democratic peace hypothesis, i.e., the observation that democracies rarely fight one another. We show that in the presence of information asymmetries and strategic complements, the strategic interaction between two democracies differs from any other dyad. In our model, two democracies induce the highest probability of peaceful resolution of conflicts. But it takes two for peace; one democracy involved in a conflict does not necessarily increase the probability of a peaceful resolution compared to a conflict between two non-democratic regimes.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 3947.
Date of creation: Jun 2003
Date of revision:
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Other versions of this item:
- Gilat Levy & Ronny Razin, 2004. "It Takes Two: An Explanation for the Democratic Peace," Journal of the European Economic Association, MIT Press, vol. 2(1), pages 1-29, 03.
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Farrell, J. & Gibbons, R., 1989.
"Cheap Talk With Two Audiences,"
518, Massachusetts Institute of Technology (MIT), Department of Economics.
- V. Crawford & J. Sobel, 2010.
"Strategic Information Transmission,"
Levine's Working Paper Archive
544, David K. Levine.
- repec:fth:stanho:e-89-7 is not listed on IDEAS
- Lones Smith & Ennio Stacchetti, 2002. "Aspirational Bargaining," Game Theory and Information 0201003, EconWPA.
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