Litigation partner Michael Nolan will be speaking on a panel titled “Game theory: how do the incentives, processes, and psychology of ISDS affect damages outcomes?” at the Fifth Annual Damages in International Arbitration Conference. The conference will take place in Washington, DC on September 16, 2016. Panelists will discuss the following:
- Are advocates gaming the arbitral process? Are experts used to “anchoring” a value in the Tribunal’s mind? Are they searching for facts to support a conclusion, rather than reaching conclusions based on facts?
- Is the party’s expert there to ensure the party’s position is well framed, or does the expert’s duty to the tribunal require more?
- What incentives are there to discourage expert advocacy and enhance independence and objectivity?
- How can instructions from lawyers / tribunals (or their experts) help to frame the approach taken by damages experts?
- The “chicken and egg” question - Do participants exaggerate positions because they believe the tribunal will split the claim? Do tribunals split the claim because they believe the parties exaggerate their positions?
- How can tribunals influence experts to give them the “real answers”? In other words, how can incentives be changed in order to arrive at the “right” result?
- How does third party funding affect the incentive structure in investment arbitration?
- Do tribunal appointed experts make the process more reasonable or more heated?
For more information about the conference, please click here.
