We study a financial network where forced liquidations of an illiquid asset have a negative impact on its price, thus reinforcing network contagion. We prove uniqueness of the clearing asset price and liability payments under no, partial, and full multilateral netting of interbank liabilities. We show that partial versus full multilateral netting increases bank shortfall, and reduces clearing a...

With the increasing possibilities for interaction between Internet users exceeding pure communication, in multilateral security the research question arises to rethink and extend classical security requirements. Reputation systems are a possible solution to assist new security requirements. But naturally also reputation systems have to be designed in a multilateral secure way. In this paper we ...

This study examines conditions in which alliance networks (informal webs of bilateral entanglements between firms) may or may not evolve into multilateral alliances (broad, formal multiple-firm arrangements). I offer a theory to explain the formation of multilateral alliances based on both the resource profile and the structure of existing interfirm networks, and provide an initial test of that...

The volume of direct British aid to Africa is constrained by the substantial level of its contributions to multilateral programmes (including those of the EU). The multilateral agencies, of course, also provide large volumes of aid to Sub-Saharan Africa, of which the UK finances its share, but the following discussion is restricted to the bilateral element in British aid to Africa. The share of...

Defence diplomacy has gained attention in the past decades. Hence, Indonesia also developed its defence for achieving strategic interests. In Indonesia’s diplomacy, bilateral forms have dominated practice of joint exercises with partners. However, under Yudhoyono administration 2014, hosted first multilateral exercise, Multilateral Naval Exercise Komodo (MNEK), which aimed at facilitating engag...

Field Editor: D. Jennings We examine the antecedents and outcomes of new ventures' formation of multilateral R&D alliances. Our results show an inverted U-shaped relationship between market uncertainty and a new venture's likelihood of forming multilateral R&D alliances. Top management team's social capital and ventures' technological capabilities are critical for new ventures to identify and c...

Why do governments choose multilateralism? We examine a principalagent model in which states trade some control over the policy for greater burden sharing. The theory generates observable hypotheses regarding the reasons for and the patterns of support and opposition to multilateralism. To focus our study, we analyze support for bilateral and multilateral foreign aid giving in the US. Using new...

Multilateral systems involving haptic information sharing between several users have recently found interesting applications in cooperative haptic teleoperation and haptic-assisted training. It is intuitively understood that some tasks are performed more effectively with two hands or through collaboration than one hand or individual operation. By using multiple user interfaces (“masters”) and o...

One of the most enduring points of confl ict in the global political economy is whether international economic rules and regulations should accommodate diversity or encourage harmonization of regulatory institutions. The logic of diff erentiation is that optimal regulatory design diff ers according to national needs and conditions. The logic of harmonization, in contrast, is that the transactio...

This paper compares sequential trade liberalization through a preferential trade agreement (PTA) and one-shot multilateral trade liberalization with respect to the speed with which countries attain multilateral free trade. We build a three-country oligopoly model, including one developing country whose domestic firm initially uses old technology. Firm-level adoption of new technology and countr...