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KDI Journal of Economic Policy. Vol. 38, No. 4, December 2016, pp. 95-114
https://doi.org/10.23895/kdijep.2016.38.4.95
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Conflict in the Shadow of Conflict
Abstract
We study how an advantage given to an interim winner in sequential conflicts characterizes dynamic competition between players and influences their payoffs. As the intensity of competition during each period is negatively correlated, perfect security is not necessarily desirable for contending parties. We present results which are widely applicable to various types of dynamic competition, where competition in each period is linked to the interim winner’s relative advantage. Policy implications are also discussed in a variety of areas, and several extensions are explored.
Keywords
Sequential Conflicts, AllPay Auctions, Sequential Innovations, Arms Race
JEL Code
D44, D74, O31
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- Household Debt and Consumer Spending in Korea: Evidence from Household Data
- Korea’s Participation in Global Value Chains: Measures and Implications
- How Large are Local Human Capital Spillovers?: Evidence from Korea
- Conflict in the Shadow of Conflict
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