Debt Games Strategic Interaction in International Debt Rescheduling [Paperback]

This book explains the significant variation that has emerged over time and across cases in international debt rescheduling during the last one hundred and seventy years.Based on a novel theory of bargaining, this study provides a method to deduce actors' payoffs in bargaining situations and develop debt games, used in predicting negotiating outcomes. It contributes to international political and economic theory, game theory, and debt negotiations research.Based on a novel theory of bargaining, this study provides a method to deduce actors' payoffs in bargaining situations and develop debt games, used in predicting negotiating outcomes. It contributes to international political and economic theory, game theory, and debt negotiations research.This book explains the significant variation that has emerged over time and across cases in international debt rescheduling during the past one hundred and seventy years. Based on a novel situational theory of bargaining, Professor Aggarwal's study provides a method to deduce actors' payoffs in different bargaining situations to develop debt games, which are then used to predict negotiating outcomes. This integrated political-economic approach to analyze bargaining episodes goes beyond simple economic models or purely descriptive studies. In doing so, it contributes to international political and economic theory, game theory, and historical research on debt negotiations.Preface; Overview; Part I. Argument: 1. Examining the importance of epochs; 2. Debt games and play: toward a model of debt rescheduling; 3. A situational theory of payoffs and intervention decisions; 4. A theory of situational change; Part II. Epoch 1: the 1820s to the 1860s: 5. The intersection of high and low politics: Mexican debt rescheduling, 1824 to 1867; 6. Guano makes the world go 'round: Peruvian debt rescheduling, 1823 to 1850s; Part III. Epoch 2: the 1860s to the 1910s: 7. From stability to chaos: Mexican debt rescheduling, 1867 to 1914; 8. TolÃF