Managing Expectations: Beyond Formal Adjudication

Forthcoming chapter in Cambridge University Press book (Roberto Echandi, et al., eds. 2012)

Washington & Lee Legal Studies Paper No. 2012-35

19 Pages Posted: 2 May 2012  

Susan D. Franck

American University - Washington College of Law

Date Written: May 1, 2012

Abstract

The international investment system has depended heavily on international arbitration to provide guidance and clarification on the standards contained in international investment agreements. In order to assess the system realistically, this commentary discusses unpacking stakeholder expectations by recognizing where expectations may have been overly optimistic and thinking systematically about the mechanisms through which to capture and manage regulatory discretion. This article evaluates ideas expressed by Anne van Aaken and Bart Legum, which consider different ways to achieve regulatory and commercial balance, and offers a lens for thinking systematically about managing stakeholder expectations in the international investment system. A critical issue for international investment law relates to cognitive psychology and how to manage the expectations of differently situated stakeholders. This commentary explores different methods to managing stakeholder expectations and investment treaty conflict such as education and different doctrinal opportunities such as administrative law’s model of formal and informal rule-making and adjudication. This commentary concludes that an evidence-based nuanced analysis allows consideration of specific dynamics about stakeholder objectives, enabling a more realistic assessment of the international investment regime.

Suggested Citation

Franck, Susan D., Managing Expectations: Beyond Formal Adjudication (May 1, 2012). Forthcoming chapter in Cambridge University Press book (Roberto Echandi, et al., eds. 2012); Washington & Lee Legal Studies Paper No. 2012-35. Available at SSRN: https://ssrn.com/abstract=2049581

Susan D. Franck (Contact Author)

American University - Washington College of Law ( email )

4300 Nebraska Avenue, NW
Washington, DC 20016
United States

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