@inbook{c81d379e76a74408ace48f80e741dd52,
title = "A Paradigm Shift?: Arbitration and Court-Like Mechanisms in Investors' Disputes",
abstract = "Recently, several court-like mechanisms have been considered as a substitute for investor-state arbitration. Suggestions for creating such mechanisms have been around for a long time, but new trade agreements may make court-like mechanisms for investors{\textquoteright} disputes a reality. This paper starts by asking whether the shift from arbitration to court-like mechanism is likely to happen and how deep is the change to dispute resolution going to be. The advantages and disadvantages of replacing ad-hoc arbitrators with court-like mechanisms are examined. Courts are more centralized than arbitrators, which gives them the ability to act in a coherent way and consider long-term consequences. However, centralization may imply a greater risk of capture by special interests and could lead to more radical legal developments than the stable system of diverse arbitration. Furthermore, compromise solutions that create numerous competing court-like mechanisms instead of a universal court may escalate the fragmentation of international law.",
author = "Shai Dothan and Joanna Lam",
year = "2020",
doi = "10.1007/8165_2020_50",
language = "English",
isbn = "9783030456832",
series = "European Yearbook of International Economic Law",
pages = "1--25",
editor = "G{\"u}nes {\"U}n{\"u}var and Joanna Lam and Shai Dothan",
booktitle = "Permanent Investment Courts",
publisher = "Springer",
address = "Switzerland",
}