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Efficient Enforcement In International Law, Anu Bradford, Omri Ben-Shahar
Efficient Enforcement In International Law, Anu Bradford, Omri Ben-Shahar
Faculty Scholarship
Enforcement is a fundamental challenge for international law. Sanctions are costly to impose, difficult to coordinate, and often ineffective at accomplishing their goals. Rewards are likewise costly and domestically unpopular. Thus, efforts to address pressing international problems-such as reversing climate change and coordinating monetary policy-often fall short. This Article offers a novel approach to international enforcement and demonstrates the advantages of such an approach over traditional sanctions or rewards. It develops a mechanism of Reversible Rewards, which combines sticks and carrots in a unique, previously unexplored way. Reversible Rewards require that a sum of money be offered as a reward …
Reversible Rewards, Omri Ben-Shahar, Anu Bradford
Reversible Rewards, Omri Ben-Shahar, Anu Bradford
Faculty Scholarship
This article offers a new mechanism of private enforcement, combining sanctions and rewards into a scheme of “reversible rewards.” The enforcing party sets up a precommitted fund and offers it as reward to another party to refrain from violation. If the violator turns down the reward, the enforcer can use the money in the fund for one purpose only – to pay for punishment of the violator. The article shows that this scheme doubles the effect of funds invested in enforcement and allows the enforcer to stop violations that would otherwise be too costly to deter. It argues that reversible …
The American Law Institute Goes Global: The Restatement Of International Commercial Arbitration, George A. Bermann
The American Law Institute Goes Global: The Restatement Of International Commercial Arbitration, George A. Bermann
Faculty Scholarship
The American Law Institute's new Restatement of the U.S. Law of International Commercial Arbitration is only barely underway, and the reporters began with a chapter, namely the recognition and enforcement of awards, that should represent for them a comfort zone of sorts within the overall project. Yet, already a number of difficult, and to some extent unexpectedly difficult, questions have arisen. Some of the difficulties stem from the very nature of an ALI Restatement project. Others stem from the nature of arbitration itself and, more particularly, from the inherent tension between arbitral and judicial functions in the arbitration arena. Still …