The Use of Economics in International Trade and Investment Disputes

Containing contributions from both academic experts and practitioners, and from economic and legal experts, this book explores the use of economics in international economic law.

Theresa Carpenter (Edited by), Marion Jansen (Edited by), Joost Pauwelyn (Edited by)

9781107144903, Cambridge University Press

Hardback, published 20 April 2017

414 pages
23.5 x 15.8 x 2.6 cm, 0.76 kg

'The dispute settlement system at the WTO is unique among international organisations and any contribution that seeks to strengthen the system is most welcome. This book draws upon investor-state arbitration and competition/antitrust disputes to focus on the application of economics to international trade law and specifically WTO law. It collects precious insights from practitioners and academics, bringing economists and lawyers together to work towards solutions that are credible and that enhance the system. It is a most welcome contribution.' Karl Brauner, Deputy Director, World Trade Organization

Twenty-first-century trade agreements increasingly are a source of international law on investment and competition. With chapters contributed by leading practitioners and academics, this volume draws upon investor-state arbitration and competition/antitrust disputes to focus on the application of economics to international trade law and specifically WTO law. Written in an accessible language suitable for a broad readership while providing concrete insights designed for the specialist, this book will be of use to those active or interested in the related fields of trade disputes, competition law, and investor-state arbitration.

1. Introduction: the use of economics in international trade and investment disputes Marion Jansen, Joost Pauwelyn and Theresa Carpenter
Part I. The Use of Economics in International Trade and Investment Disputes: A Practitioner's View: 2. Integrating economic analysis into WTO dispute settlement practice: a view from the trenches Robert Teh and Alan Yanovich
3. Present at the creation: economists and accountants in international trade law practice Thomas Graham
4. The role of economics in WTO dispute settlement and choosing the right litigation strategy - a practitioner's view Christian Lau and Simon Schropp
5. On interpretation and economic analysis of law David Unterhalter
6. The client's perspective James Flett
7. The use of economics in competition law: what works and what doesn't across national jurisdictions? Bruce Malashevich
Part II. The Use of Economics in International Trade Disputes: Economic Versus Legal Thinking: 8. What to do if economic insights are disputed: on the challenge to deal with competing and evolving theories or empirics in international trade disputes Anne van Aaken
9. Lost in translation: communication and interpretation challenges related to economic evidence in trade disputes Marion Jansen and Marios Iacovides
10. Land rich and cash poor? The reluctance of the WTO dispute settlement system to entertain economics expertise: an institutional analysis Petros Mavroidis and Damien Neven
11. The economics of actionable subsidy disputes Jorge Miranda
12. In search of a 'genuine and substantial' cause: the analysis of causation in serious prejudice claims Pablo M. Bentes
13. The games we play - simulation models in merger analysis and their potential use in trade litigation Amar Breckenridge
Part III. The Use of Economics in International Investment Disputes: Liability and Damages: 14. Aligning loss, liability and damages: towards an integrated assessment of damages in investment arbitration Wolfgang Alschner
15. An economic assessment of contracts and requests for contract reform and damages in international arbitration Bastian Gottschling and Willis Geffert
16. Economics in investor-state arbitration beyond quantum Carla Chavich and Pablo Lopez
17. Assessing investor damages involving publicly traded companies – with examples from the Yukos' cases Manuel A. Abdala and Alan Rozenberg
18. From the law of valuation to valuation of law? On the interplay of international law and economics in fair-market valuation Fuad Zarbiyev
Conclusion Theresa Carpenter, Marion Jansen and Joost Pauwelyn
Appendix. Guidelines for best practices for the use of economics in WTO dispute settlement Theresa Carpenter, Marion Jansen and Joost Pauwelyn.

Subject Areas: Law: study & revision guides [LR], Settlement of international disputes [LBH], Private international law & conflict of laws [LBG], Public international law [LBB], International law [LB], Law as it applies to other professions [LAY], Legal profession: general [LAT], Law & society [LAQ], Systems of law [LAF], Law [L]