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Bounded Rationality and the Diffusion of Modern Investment Treaties

Poulsen, L; (2014) Bounded Rationality and the Diffusion of Modern Investment Treaties. International Studies Quarterly , 58 (1) pp. 1-14. 10.1111/isqu.12051. Green open access

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Abstract

Given the considerable sovereignty costs involved, the adoption of modern investment treaties by practically all developing countries presents somewhat of a puzzle. Based on a review of leading explanations of investment treaty diffusion, the article advances a new theory using behavioral economics insights on cognitive heuristics. In line with recent work on policy diffusion, it suggests that a bounded rationality framework has considerable potential to explain why, and how, developing countries have adopted modern investment treaties. To illustrate the potential of this approach, the case of South Africa is studied in depth.

Type: Article
Title: Bounded Rationality and the Diffusion of Modern Investment Treaties
Open access status: An open access version is available from UCL Discovery
DOI: 10.1111/isqu.12051
Publisher version: http://dx.doi.org/10.1111/isqu.12051
Language: English
Additional information: This is a pre-copyedited, author-produced PDF of an article accepted for publication in International Studies Quarterly following peer review. The version of record, Poulsen, L; (2014) Bounded Rationality and the Diffusion of Modern Investment Treaties. International Studies Quarterly, 58 (1) pp. 1-14, is available online at: http://dx.doi.org/10.1111/isqu.12051.
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/1471862
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