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A supporter of ousted Venezuelan President Nicolas Maduro holds a banner during a demonstration as they watch a session of the National Assembly on a big screen in Maracaibo, Venezuela, on January 5, 2026. [AFP]
Daniel Ellsberg’s ‘Madman theory’ postulates that a leader considered unpredictable by peers can gain an advantage in coercive bargaining by simply making his or her threats appear believable.
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