.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 …

interdependence significantly promotes peace. It also suggests that the peace-promotion effect of bilateral trade integration is … bilateral trade but global trade openness also significantly promotes peace. It shows, however, that an increase in global trade … sharing borders. The main finding of the peace-promotion effect of bilateral and global trade integration holds robust when …