Because of its parsimony and power, deterrence theory is the most important American theory of international relations. Yet it has many faults. The boundaries outside of which it does not apply are not clear; it does not tell how a state can change an adversary's motives; it does not deal with the use of rewards. Current scholarship of the third wave of deterrence theory, including George and Smoke'sDeterrence in American Foreign Policy, has increased our knowledge by providing empirical evidence on when and how deterrence fails. Examination of the details of decision making reveals the ways in which attempts to deter can go wrong. Recent work stresses the role of each side's intrinsic interest in an issue, and argues that earlier formulations of the theory exaggerated the importance of commitment. The third wave also introduces a larger political element by focusing attention on states' goals and the context of their behavior.