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The Foundations of International Investment LawBringing Theory into Practice$
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Zachary Douglas, Joost Pauwelyn, and Jorge E. Viñuales

Print publication date: 2014

Print ISBN-13: 9780199685387

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780199685387.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 21 January 2022

The Sociology of International Investment Law

The Sociology of International Investment Law

Chapter:
(p.142) (p.143) 5 The Sociology of International Investment Law
Source:
The Foundations of International Investment Law
Author(s):

Moshe Hirsch

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199685387.003.0006

This chapter examines the interaction between international investment law (IIL) and human rights law, and the issue of precedent in investment treaty arbitration from a sociological perspective. It argues that the socio-cultural distance between the particular branches of international law affects the inclination of relevant decision-makers to incorporate or reject legal rules developed in other branches of international law. It shows that investment tribunals' tendency to follow a series of consistent rulings by other investment tribunals is linked to the concepts of social norms, social control, and conformity in the investment arbitration community, as well as the particular role of the influential core-group of frequent arbitrators in the investment social network. Investment tribunals' inclination to accept rulings of the International Court of Justice (ICJ) is linked to the concepts of social status and reference group in sociological literature.

Keywords:   human rights law, investment treat arbitration, precedent, sociological dimension, international tribunals, social norms, social control, conformity

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