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Konrad, Kai A. (2004): The investment problem in terrorism. In: Economica, Vol. 71, No. 283: pp. 449-459
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Evidence from early terrorist groups reveals a structural equivalence between extortion and terrorism. This allows us to draw conclusions from the theory of extortion that can be applied to a theory of terrorism concerning the role of repeated play in the viability of extortion. It also enables us to analyse the role of commitment in destroying the extortionary organization. © The London School of Economics and Political Science 2004.