The Influence of the Richardson Arms Race Model

Abstract

AbstractThis chapter reviews the Richardson arms race model: a pair of differential equations which capture an action reaction process. Whereas many of Richardson’s equations were quite specific about what they referred to, the arms race model was not. This lack of specificity was both a strength and a weakness. Its strength was that with different interpretations it could be applied as an organising structure in a wide variety of contexts. Its weakness was that the model could not be estimated or tested without some auxiliary interpretation. The chapter considers the impact of these issues in interpretation and empirical application on the influence of the Richardson arms race model.