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      Advancing doctrine through devil’s advocacy: A response to Alan O. Sykes

      Alvarez-Jimenez, Alberto
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      Alvarez-Jimenez, A. (2015). Advancing doctrine through devil’s advocacy: A response to Alan O. Sykes. AJIL Unbound, 109, 175–180.
      Permanent Research Commons link: https://hdl.handle.net/10289/11378
      Abstract
      Alan Sykes’ editorial comment, Economic “Necessity” in International Law, provides a multi-layered analysis of the defense of “necessity” in international investment disputes. Sykes’ main proposition is that the obligation to compensate investors for government measures prejudicing their investments during economic emergencies mitigates the risk of moral hazard and incentivizes States to “select the least expensive way to protect their interests (the optimal policy instrument).”¹ Otherwise, he contends, “actors will take risks that imperil them to an excessive degree if they can save themselves by imposing costs on others.”² Sykes nonetheless argues that payment of the compensation could be deferred in light of the emergency, and not be subject to market interest rates.³
      Date
      2015
      Type
      Journal Article
      Publisher
      American Society of International Law
      Rights
      ASIL and Alberto Alvarez-Jimenez © 2015
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      • Law Papers [306]
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