Hidden Bibliographic Details
| ISBN: | 9781316439661
1316439666
9781316401941
1316401944
9781316436820
1316436829
9781316438244
110755201X
9781107552012
9781316435403
1316435407
1316438244
9781316438244
9781107119536
1107119537
9781107552012
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| Notes: | Includes bibliographical references (pages 206-234) and index.
Online resource; title from e-book title screen (EbscoHost platform, viewed October 22, 2015).
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| Summary: | "Modern investment treaties give private arbitrators power to determine whether governments should pay compensation to foreign investors for a wide range of sovereign acts. In recent years, particularly developing countries 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 governments in developing countries typically overestimated the economic benefits of investment treaties and practically ignored their risks. Rooted in insights on bounded rationality from behavioural psychology and economics, the analysis highlights how policy-makers often relied on inferential shortcuts when assessing the implications of the treaties, which resulted in systematic deviations from fully rational behaviour. This not only sheds new light on one of the most controversial legal regimes underwriting economic globalization but also provides a novel theoretical account of the often irrational, yet predictable, nature of economic diplomacy."--Provided by publisher
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| Other form: | Print version: Poulsen, Lauge N. Skovgaard. Bounded rationality and economic diplomacy 9781107119536
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