Dr. Keisuke Nakao, Associate Professor of Economics, was selected to receive the 4th Walter Isard Annual Award for the year 2020’s best article in Peace Economics Peace Science and Public Policy (PEPS). PEPS is a scholarly journal whose aim is promoting and disseminating the study of peace economics. Walter Isard, after whom the award is named, was the journal’s founder. The journal’s editor-in-chief and associate editors voted unanimously to award best paper status to Dr. Nakao’s “Rationalist Explanations for Two-Front War,” describing it as “brilliant theoretical work.”
Advancing our understanding of conflict among three or more states
While theorists in International Relations have developed a number of models of war fought between two states, they have devoted much less efforts to modeling war among three or more states presumably because of difficulties with modeling multilateral interactions. By focusing on a particular form of war—two-front war—where a state at the center is fought by two enemies at opposing peripheries, the article addresses why war can break out in one front and then spread to the other. Because a war in one front can affect the war outcome in the other through the shift of military balance, a peripheral state may preventively join the war ongoing in the other front to leverage its power (e.g., Napoleonic Wars), or the central state may preemptively initiate war in one front to establish its preponderance in the other (e.g., World War I). These findings echo the concern that a multi-polar system may not be so stable as the bipolar system that existing models of war commonly presume.
Economics is about more than just supply and demand curves
Dr. Nakao’s research illustrates the expansive reach of the economics field. Economics principles can be applied to business, government, education, international aid, and personal finance, among other things.
Economics, at its very heart, is the study of people. It seeks to explain what drives human behaviour, decisions and reactions when faced with difficulties or successes. ~ Dr. Yu-Hsiang Lei, London School of Economics
About Dr. Nakao
Dr. Keisuke Nakao is Associate Professor of Economics in the College of Business and Economics. He received his Ph.D. in Economics with an emphasis on Game Theory and Political Economy from Boston University. His research interests center on Positive Theory of International Politics. Dr. Nakao has published in such outlets as Journal of Peace Research; Journal of Theoretical Politics; Economics & Politics; B.E. Journal of Economic Analysis & Policy; Defence & Peace Economics; Peace Economics, Peace Science, & Public Policy; Review of Law & Economics; Economics Bulletin; Economics of Peace & Security Journal; and Asian Journal of Law & Economics. He is currently working on game-theoretic analyses of armed conflict.