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

Journal of International Dispute Settlement, 2016, vol. 7, Introduction to Special Issue "Empirical Studies on Investment Disputes", C. Dupont and T. Schultz eds., Forthcoming

TLI Think! Paper 05/2016

King's College London Law School Research Paper No. 2016-06

31 Pages Posted: 23 Dec 2015 Last revised: 25 Jan 2016

See all articles by Cedric G. Dupont

Cedric G. Dupont

Graduate Institute of International and Development Studies (IHEID)

Thomas Schultz

King's College London; University of Geneva; Graduate Institute of International and Development Studies (IHEID) - Geneva Center for International Dispute Settlement (CIDS); Graduate Institute of International and Development Studies

Date Written: December 22, 2015

Abstract

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.

Keywords: investment arbitration, political system, David Easton, empirical studies

JEL Classification: E22, E62, G31, K33

Suggested Citation

Dupont, Cedric G. and Schultz, Thomas, Towards a New Heuristic Model: Investment Arbitration as a Political System (December 22, 2015). Journal of International Dispute Settlement, 2016, vol. 7, Introduction to Special Issue "Empirical Studies on Investment Disputes", C. Dupont and T. Schultz eds., Forthcoming; TLI Think! Paper 05/2016; King's College London Law School Research Paper No. 2016-06. Available at SSRN: https://ssrn.com/abstract=2707103

Cedric G. Dupont

Graduate Institute of International and Development Studies (IHEID) ( email )

Thomas Schultz (Contact Author)

King's College London ( email )

Somerset House East Wing
Strand
London, WC2R 2LS
United Kingdom

University of Geneva ( email )

102 Bd Carl-Vogt
Genève, CH - 1205
Switzerland

Graduate Institute of International and Development Studies (IHEID) - Geneva Center for International Dispute Settlement (CIDS) ( email )

Villa Moynier
Rue de Lausanne 120b
Geneva, 12011
Switzerland

Graduate Institute of International and Development Studies ( email )

Geneva
Switzerland

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