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It takes two : an explanation of the democratic peace

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  • Levy, Gilat
  • Razin, Ronny

Abstract

In 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 increases the probability of a peaceful resolution compared to a conflict between two non-democratic regimes.

Suggested Citation

  • Levy, Gilat & Razin, Ronny, 2004. "It takes two : an explanation of the democratic peace," LSE Research Online Documents on Economics 539, London School of Economics and Political Science, LSE Library.
  • Handle: RePEc:ehl:lserod:539
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    File URL: http://eprints.lse.ac.uk/539/
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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.
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    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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