Journal Article

Towards a New Heuristic Model: Investment Arbitration as a Political System

Cédric Dupont and Thomas Schultz

in Journal of International Dispute Settlement

Volume 7, issue 1, pages 3-30
Published in print March 2016 | ISSN: 2040-3585
Published online February 2016 | e-ISSN: 2040-3593 | DOI: https://dx.doi.org/10.1093/jnlids/idv039
Towards a New Heuristic Model: Investment Arbitration as a Political System

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  • Arbitration
  • Private International Law and Conflict of Laws
  • Public International Law
  • Settlement of Disputes

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In this introduction to the Special Issue ‘Empirical Studies on Investment Disputes’, we offer a new heuristic model to structure the thinking about investment arbitration. Investment arbitration is presented here as a political system in a sense inspired by David Easton’s landmark theory: it transforms the input of key actors (namely states, investors, arbitrators and arbitration institutions) into output (namely arbitral awards taken in the aggregate), with feedback loops from output to input, leading to or calling for adjustments or other reactions from these actors. We use this model to review some of the leading existing research and bring together key insights offered by the contributions to the issue.

Journal Article.  15049 words.  Illustrated.

Subjects: Arbitration ; Private International Law and Conflict of Laws ; Public International Law ; Settlement of Disputes

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