The Risks and Virtues of Lawlessness: A "Second Look" at International Commercial Arbitration
Posted: 19 Jan 2016
Date Written: December 1999
This article was not posted on SSRN when originally published. It is one of the first articles to explore the policy ramifications of the arbitrability of public law/mandatory law claims in cross-border commercial disputes. The article suggests that the arbitration of public law/mandatory law claims risks devaluation of important regulatory objectives and the creation of an arbitral environment inhospitable to cross-cultural disputes, especially those involving parties from non-Western legal traditions. The article was republished in full in 2009, as one of "the most important articles on arbitration", in ECONOMICS OF COMMERCIAL ARBITRATION AND DISPUTE RESOLUTION (O. Ashenfelter, and R. Iyengar, eds, Edward Elgar Publishing Ltd., London, 2009), of the series, ECONOMIC APPROACHES TO LAW (Richard A. Posner and Francesco Parisi, senior eds).
Keywords: international arbitration, international law, arbitration, public law, mandatory law, non-Western legal traditions, Asian legal traditions, judicial review of arbitral awards, choice of law, contractual autonomy, party autonomy, “second look doctrine,” publication of arbitral awards
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