A tale of three cities: the construction of international commercial arbitration

Jérôme Sgard ()
Additional contact information
Jérôme Sgard: CERI - Centre de recherches internationales (Sciences Po, CNRS) - Sciences Po - Sciences Po - CNRS - Centre National de la Recherche Scientifique

SciencePo Working papers Main from HAL

Abstract: Contracting for profit typically asks that sophisticated institutions help merchants and entrepreneurs as they bargain, invest and serve their obligations. Prime concerns include the processing of information, payments and dispute resolution, which in principle should be provided in an altogether efficient, predictable and flexible manner. In practice however, well-tested, ready-made institutions rarely emerge spontaneously or converge naturally toward a rational solution. Experimentation in market institutions is typically long, competing rules may coexist over time and cause uncertainty, or, for instance, an institution that emerged early on and was endowed with substantial legitimacy by its patrons may eventually prove inadequate, because it was designed for the needs of a previous time. Technological change or evolving market structures can debase old institutions and those who control them...

Keywords: Socio-Legal Studies; Economic History; Globalization (search for similar items in EconPapers)
Date: 2016-06
References: Add references at CitEc
Citations:

Published in Jérôme Sgard; Grégoire Mallard; Jérôme Sgard. Contractual Knowledge. One Hundred Years of Legal Experimentation in Global Markets, Cambridge University Press, pp.153 - 184, 2016, 9781107130913

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:spmain:hal-03394002

Access Statistics for this paper

More papers in SciencePo Working papers Main from HAL
Bibliographic data for series maintained by Contact - Sciences Po Departement of Economics ().