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Bounded Rationality and Economic Diplomacy

Name: Bounded Rationality and Economic Diplomacy
Brand: Cambridge University Press
SKU: 9781107119536
Price: 659.6 RON
Availability: InStock

The Politics of Investment Treaties in Developing Countries

Autor: Lauge N. Skovgaard Poulsen

Limbă:

Legare: Copertă tare

Editura: Cambridge University Press

Disponibilitate: În depozitul extern

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Modern investment treaties give private arbitrators comprehensive jurisdiction to determine whether...

Informații despre carte

Autor

Lauge N. Skovgaard Poulsen

Limbă

engleză

Legare

Carte - Copertă tare

Publicat

2015

Pagini

264

EAN

9781107119536

ISBN

1107119537

Enbook ID

09265733

Editura

Cambridge University Press

Greutate

500

Dimensiuni

236 x 162 x 23

Descriere completă

Modern investment treaties give private arbitrators comprehensive jurisdiction to determine whether governments should pay compensation to foreign investors for a wide range of sovereign acts. In recent years developing countries particularly have incurred significant liabilities from investment treaty arbitration, which begs the question why they signed the treaties in the first place? Through a comprehensive and timely analysis, this book shows that developing country governments typically overestimated the economic benefits of investment treaties and practically ignored their risks. Rooted in insights on bounded rationality from behavioural economics and psychology, the analysis highlights how policy-makers often relied on inferential shortcuts when assessing the implications of the treaties, which resulted in predictable deviations from fully rational behaviour. This not only sheds new light on one of the most controversial legal regimes underwriting economic globalisation, but also provides a novel theoretical account of the often irrational, yet predictable, nature of economic diplomacy.