We consider conflicts between an incumbent, e.g. government or dominant firm, and potential challengers, e.g. guerilla movement or entrants. It is not uncommon for challengers to win such conflicts despite their lack of resources. They can do this by exploiting a second mover advantage: choosing...

We analyse the role played by Export Credit Guarantees (ECGs) to encourage exports to developing countries. The existence of moral hazard on the side of the firm is introduced. We show that the inability of the exporter's government to verify the actual quality of the product will limit its...

Owing to the WTO exemption that allows governments to subsidise arms exports, the arms trade is one of the few remaining areas of trade where we observe lump-sum and per unit transfers to exports. This paper examines the effect of arms controls, in the form of licensing delays, on the incentives...