.We characterize the efficient sequential equilibria. We show that war is necessary to sustain peace and that temporary wars can emerge …

We study the possibility of peace when two countries fight a war over the ownership of a resource. War is always the …-established distribution of the resource among countries. When there is such a distribution of the resource, under complete information peace … equilibria: Peaceful Equilibria, in which peace has a positive probability, and Aggressive Equilibria, which assign probability …

This paper develops a dynamic theory of war and peace. In our framework, an aggressive country can forcibly extract … concessions on its own. Both countries suffer from limited commitment, and under peace, the non-aggressive country may receive a … aggressive country forgives the non-aggressive country by re-engaging in peace because of the coarseness of public information …