The Predictability Paradox - Arbitrators and Applicable Law
Article from: TDM 6 (2015), in Roundup of Articles
More than a half century ago, a Hungarian psychoanalyst suggested terms to distinguish between thrill seekers and those who cling to the predictable: the 'philobat' who enjoys departing from the safe and predictable, and the 'ocnophile' who clings to stability. The latter category includes the risk averse (or just plain prudent) individuals who accept the prospect of being up only one dollar (rather than two) in order to attenuate the possibility of having nothing at all. Much of the impulse to arbitrate international disputes might be explained as a response to spectres of ...