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It Takes Two: An Explanation for the Democratic Peace

Author

Listed:
  • Gilat Levy

    (London School of Economics and Tel Aviv University)

  • Ronny Razin

    (New York University)

Abstract

This 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.

Suggested Citation

  • 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, March.
  • Handle: RePEc:tpr:jeurec:v:2:y:2004:i:1:p:1-29
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    References listed on IDEAS

    as
    1. Lones Smith & Ennio Stacchetti, 2002. "Aspirational Bargaining," Game Theory and Information 0201003, University Library of Munich, Germany.
    2. repec:hoo:wpaper:e-89-7 is not listed on IDEAS
    3. Farrell, Joseph & Gibbons, Robert, 1989. "Cheap Talk with Two Audiences," American Economic Review, American Economic Association, vol. 79(5), pages 1214-1223, December.
    4. repec:cup:apsrev:v:93:y:1999:i:04:p:791-807_21 is not listed on IDEAS
    5. repec:cup:apsrev:v:88:y:1994:i:03:p:577-592_09 is not listed on IDEAS
    6. Crawford, Vincent P & Sobel, Joel, 1982. "Strategic Information Transmission," Econometrica, Econometric Society, vol. 50(6), pages 1431-1451, November.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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