The New York Convention is regarded as one of the most successful treaties in the past fifty-five years. Its simplicity and brevity in wording but complexity and diversity in application have triggered endless discussions, debates and writings. Rethinking the New York Convention – A Law and Economics Approach for the first time offers a unique jurisprudence-oriented analysis by applying two major analytic approaches, namely Darwinian legal theory and game theory.
Four key topics are analysed in this book: the evolution of the treaty, the competition among various jurisdictions, lex mercatoria and governing law in arbitration, and the doctrine of public policy. This choice of key topics offers the opportunity to look into these so-called core dilemmas surrounding the New York Convention from different angles, inspiring the reader to think outside the box. In addition, against the background of the current financial crisis, this book focuses on the use of the New York Convention in the context of global governance and discusses the need for a reform of the existing regime of cross-border transactions and activities.
Rethinking the New York Convention – A Law and Economics Approach explores the topic in a refreshing style and will be of use for anyone who is interested in arbitration or law and economics.
‘This [book] is a brave initiative, clearly marking off [the author’s] analysis from existing research in the field. Dr Shen is to be warmly congratulated on making a fresh and important contribution to this field; [this] book deserves every success and will surely become an essential work of reference.’
Simon Roberts, Professor in Law, London School of Economics
‘This is an ideas book, as well as a law book. It is full of insights, and refreshingly free of special interest advocacy. The one cause that is advocated with force is the need for a global approach. This, and the scholarly standard of the writing, places the book in the first league of the outstanding literature which arbitration law continues to generate.’
Sir William Blair in Arbitration International (2015) 1
Chapter 1. Rethinking the New York Convention: From a Jurispudence-Oriented Perspective (p. 1)
Chapter 2. The New York Convention and Darwinian Legal Theory (p. 9)
Chapter 3. Enforcement of Annulled Awards, Delocalisation and Game Theory (p. 81)
Chapter 4. Lex Mercatoria and the New York Convention (p. 159)
Chapter 5. Public Policy and the New York Convention (p. 225)
Chapter 6. Neo-New York Convention: A Preliminary Conclusion (p. 303)
Bibliography (p. 319)
Index (p. 353)
Parts of this book have been made open access. We make chapters open access because they are particularly topical, or provide a useful introduction to the subject. They may be available for a limited time or indefinitely. Some books are entirely and permanently open access.
The series European Studies in Law and Economics is devoted to further the understanding of Law and Economics in Europe. The volumes published in this series present an interdisciplinary perspective on the effects of laws on people’s behaviour and on the economic system. The ample topics address a wide audience, including policy makers, legislators, economists, lawyers and judges. The series is peer-reviewed.
The series is an initiative of the PhD programme ‘European Doctorate in Law and Economics’ (EDLE). The EDLE is the academic response to the increasing importance of the economic analysis of law in Europe. The programme is offered by the Universities of Bologna, Hamburg and Rotterdam in association with the Indira Gandhi Institute of Development Research, Mumbai (India). PhD students receive the unique opportunity to study law and economics in three different countries. The programme prepares economists and lawyers of high promise for an academic career in a research field of growing importance or for responsible positions in government, research organisations and international consulting firms.
The European Commission sponsors the EDLE as an excellence programme under the prestigious Erasmus Mundus scheme. For further information please visit: www.edle-phd.eu.
The editorial board of the series consists of Prof. Dr. Michael G. Faure (Erasmus University Rotterdam), Prof. Dr. Luigi A. Franzoni (University of Bologna) and Prof. Dr. Stefan Voigt (University of Hamburg).
With a subscription to the series you enjoy a 15% discount on each volume!