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The Prince—or Better No Prince? The Strategic Value of Appointing a Successor

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  • Kai A. Konrad
  • Vai-Lam Mui

Abstract

Appointing a successor (the “prince†) allows the ruler (the “king†) to alter the structures of conflicts that take place between him and his potential challengers, as well as the structures of conflicts that take place among his potential challengers. Motivated by historical examples and using an infinite horizon rulership competition game, we show that while an appointed prince constitutes a powerful and dangerous threat to the incumbent ruler (the elevated threat effect ), the appointed prince can also offer the incumbent ruler increased protection against other potential challengers (the barrier effect ). We determine conditions when the overall effect of appointing a successor benefits the incumbent ruler and enables him to acquire a larger share of the governance rent in equilibrium.

Suggested Citation

  • Kai A. Konrad & Vai-Lam Mui, 2017. "The Prince—or Better No Prince? The Strategic Value of Appointing a Successor," Journal of Conflict Resolution, Peace Science Society (International), vol. 61(10), pages 2158-2182, November.
    • Handle: RePEc:sae:jocore:v:61:y:2017:i:10:p:2158-2182
    DOI: 10.1177/0022002716631103
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    References listed on IDEAS

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    1. Robert K. Fleck & F. Andrew Hanssen, 2013. "How Tyranny Paved the Way to Democracy: The Democratic Transition in Ancient Greece," Journal of Law and Economics, University of Chicago Press, vol. 56(2), pages 389-416.
    2. Daron Acemoglu & Georgy Egorov & Konstantin Sonin, 2009. "Do Juntas Lead to Personal Rule?," American Economic Review, American Economic Association, vol. 99(2), pages 298-303, May.
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    4. Zhang, Yan & Rajagopalan, Nandini, 2010. "CEO succession planning: Finally at the center stage of the boardroom," Business Horizons, Elsevier, vol. 53(5), pages 455-462, September.
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    Cited by:

    1. Yaguang Zhang & Sitian Yu & Shengyi Zhang, 2023. "The political economy of imperial power successions in ancient China," Public Choice, Springer, vol. 197(1), pages 137-166, October.

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