Caro-Burnett, Johann; Galiani, Sebastián; Torrens, Gustavo - National Bureau of Economic Research - 2023
: excessive arming and possibly the destruction associated with open conflict. Standard arguments in game theory suggest that more …, shows cycles of peace, arms races, and serious instances of open conflict. Long-lasting disarmed peace is rarely observed …. The paper develops a unified model of conflict that reveals possible theoretical mechanisms to produce such historical …