So let's look at nuclear deterrence. The big example of that is the US - USSR rivalry during the Cold War. The two countries just kept building more and more nuclear weapons until about the 1980s. And they never went to nuclear war with each other. In your book, Ward, you give some examples of where one or both countries pressed pretty hard and it looks like nuclear war was imminent. But somehow, someone managed to avoid actually dropping bombs when push came to shove. There are a number of ways to look at all this: an overall big view says that we avoided nuclear war, so deterrence must have worked. It seems to me, as in my homlier examples above, a number of factors could have been in play besides the horror of using nuclear weapons.
That's background. The Cold War situation of mutually assured destruction (MAD) may have offered a certain stability: two players who believed they were equally matched.
Even if we assume that deterrence worked in that environment, how can we extrapolate to today's world? The US and Russia (as inheritor of the USSR's status and nuclear weapons) still hold the vast majority of the world's nuclear weapons, which they are taking out of service slowly. The political situation between them, while not entirely friendly, is far from the dangerous rivalry of the Cold War, and it appears that accident is more likely than intention to cause a nuclear exchange between them.
Then there are the other nuclear weapon states. Britain and France seem unlikely to nuke anyone. China has fairly explicitly said that its nuclear force is a deterrent (that word again!), not an offensive force. Israel isn't saying whether they have nuclear weapons, but we all know that they do, and they have been very willing to threaten attacks on other countries in their area with words that don't seem to eliminate nuclear weapons from consideration. India and Pakistan are explicitly in a nuclear arms race with each other, with the occasional terrorist attack (
one today) that often leads to threats from one side or the other. North Korea may or may not have deliverable nuclear weapons. Their history has been one of threatening and occasionally attacking their neighbors, although there are some signs that their new leader Kim Jung Un may be less bellicose than his father.
Now, even if deterrence works, how does one calculate the probabilities of trouble in this kind of world? In the Cold War scenarios, there were only two players, and game theory works for two players. What now?