The notion of contagion has changed the way scientists perceive financial crises, causing heated debate on the political economy of crisis intervention. Based on a formal model that shows how a financial crisis can escalate and spread contagiously, this article analyzes game-theoretically how a...

In Hirshleifer's (1995) model for unitary actors, combined fighting/production abruptly breaks down when inter-group decisiveness of fighting is above a certain value (above one) or income requirements are not met. Accounting for the collective action problem, this article gives the opposite...

The article decomposes the Shapley value into a value matrix which gives the value of every player to every other player in n-person games. Element ij(v) in the value matrix is positive, zero, or negative, dependent on whether row player i is beneficial, has no impact, or is not beneficial for...

A terrorist defends an asset which grows from the first to the second period and is attacked. With large asset growth, the terrorist's first period outcome is low caused by a large attack. With no expenditure constraint, the terrorist's total outcome is positive. With equal attack and defense...

The article proposes an enabling mechanism for the creation, adjustment and dissolution of governmental units, giving autonomy to each resident as in a direct democracy. Rather than focusing on a narrow model with restrictive and specialized assumptions, and subsequent solutions, as has been...

Recent trends among major oil companies and independents have been consolidation through mergers and acquisitions and focus on key strategic core areas. The expressed goals have been to achieve synergy, reduce costs, and concentrate on areas with maximum expected value creation. This paper...

This paper models the situation where the attacker’s resources are unknown to the defender. Protecting assets presupposes that the defender has some information on the attacker’s resource capabilities. An attacker targets one of two assets. The attacker’s resources and...