Feasibility Analysis of the Establishment of Precedents in International Investment Arbitration
There is no doctrine of precedents in the theory and practice of international investment arbitration as in domestic law.Orthodoxies of international law denies that the decisions of tribunals can be a normative source for the rules of international law.However,in recent years,the use of past awards by tribunals has become widespread,with the use of such awards including giving them"persuasive effect""distinguishing effect""auxiliary effect"and"normative effect".The notion of"precedent"in ISDS is emerging and evolving.On the one hand,reasoned awards and publicity lay the foundation for discussing precedents in the field of international investment arbitration;on the other hand,the establishment of precedents should be based on affirming that arbitrators are under a general duty towards the development of investment law and the consistency of decisions in ISDS as a whole.
international investment arbitrationprior decisionsprecedents
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