obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk … deterrent effect under complete information, this does not hold anymore under strategic risk. Rather, we find that increases in … weapon stocks can have a non-monotonic effect on the sustainability of peace. We also show that under strategic risk …

.We contrast results obtained in a complete information setting with those obtained in a setting with strategic risk, where players … unambiguously facilitate peace under complete information. In contrast, under strategic risk, we show that increases in weapon … stocks can have a nonmonotonic effect on the sustainability of cooperation. We also show that under strategic risk, asymmetry …

. However, instrumenting for military expenditure, the authors find no deterrence effect of military spending on the risk of …