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In recent decades, the world has faced an increasing number of natural and man-made disasters. Such disasters include tsunamis, earthquakes, the current ongoing financial crisis, terrorism, riots, and wars. These disasters generate tremendous social and economic costs, especially for the poor in...
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disregarded in conflict theory. In this dynamic model of decision making we focus on the time dimension of an escalating conflict …. In order to cover the effects of high uncertainties we extend methods in real option theory by introducing a … conflicts ; uncertain investment in conflict ; theory of conflict ; decision to attack …
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This paper theoretically assesses the role that uncertainty plays in the intensity of conflicts. The standard two-player rent-seeking contest model (Tullock, 1980) is extended to allow for privately known subjective values of the prize. The conflict is modeled as a Bayesian game on which each...
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Most of the conflict theory papers have used a one-shot game set-up. This does not correspond to reality and is …
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