In this paper we examine a model of terrorism which focuses on the tradeoffs facing a terrorist organization that has the ability to utilize either or both suicide and conventional terrorism tactics. The terrorist organization’s objective is to successfully attack at least one target. Success...

In this paper we examine a model of terrorism which focuses on the tradeoffs facing a terrorist organization that has the ability to utilize either or both suicide and conventional terrorism tactics. The terrorist organization's objective is to successfully attack at least one target. Success...

In this paper we examine a model of terrorism which focuses on the tradeoffs facing a terrorist organization that has the ability to utilize either or both suicide and conventional terrorism tactics. The terrorist organization’s objective is to successfully attack at least one target. Success...

Most, if not all, published theoretical models of capital structure decisions assume that all firms follow the same capital structure decision process or strategy. We argue that such an assumption is inconsistent with extant evidence. Instead we argue that there is heterogeneity in the decision...

This paper presents an extension of the two-period Samaritan's Dilemma in order to analyze the potential for foreign aid to promote freedom. An example is the United States' recent opening towards Cuba. It is shown that a donor nation's dual concern for economic reforms and greater freedoms can...

Markets are the basic institutions that lie at the heart of most economic and financial analyses. It is surprising, then, how very little work has been done on the existence of markets themselves. We investigate a model of non-sequential search, where potential buyers and sellers seek each other...

This paper examines the ability of financial markets to resolve the institutional insufficiency that underlies the credibility problem. We derive necessary conditions for policy credibility in a Barro-Gordon (1983) model where 'market-makers' attempt to earn financial profits from speculation...

This paper distinguishes four types of 'Prisoners' Dilemma games - provision, the commons, selfishness, and altruism - based on the public character of benefits and costs. Although each of these four games has the same 2 x 2 ordinal game form, each differs in terms of strategic, dynamic, and...

This paper is the first systematic examination of (counter)terrorism dynamic games with two types of externalities: temporal and spatial. We consider two types of non-cooperative behavior; one in which national authorities are sensitive with respect to the spatial spillovers of counterterror...