Download e-book for iPad: Bounded Rationality and Economic Diplomacy: The Politics of by Lauge N. Skovgaard Poulsen

By Lauge N. Skovgaard Poulsen

smooth funding treaties provide deepest arbitrators strength to figure out even if governments should still pay reimbursement to overseas traders for quite a lot of sovereign acts. in recent times, relatively constructing nations have incurred major liabilities from funding treaty arbitration, which begs the query why they signed the treaties within the first position. via a accomplished and well timed research, this e-book exhibits that governments in constructing nations generally overvalued the commercial merits of funding treaties and essentially neglected their dangers. Rooted in insights on bounded rationality from behavioural psychology and economics, the research highlights how policy-makers frequently trusted inferential shortcuts while assessing the results of the treaties, which ended in systematic deviations from totally rational behaviour. This not just sheds new mild on essentially the most arguable criminal regimes underwriting fiscal globalization but additionally presents a singular theoretical account of the customarily irrational, but predictable, nature of financial diplomacy.

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