In recent years, international business disputes have increasingly been resolved through private arbitration. The popularity of arbitration makes the questions that will strike any non-lawyer who is introduced to this means of solving dispute more salient: Should we trust an arbitrator whom the opponent party has appointed? Will the member of the arbitration panel we nominated ourselves counterbalance any partiality? The paper shows that although codes and disclosures will achieve less than what institutions aspire to deliver, they set the ground for achieving a level of impartiality. Nonetheless the behavioral science tells us that one should also be aware of unintended adverse consequences that may arise as a result of inappropriate presumptions about the effects of regulation on behavior. The case of moral licensing, showing that disclosure can in some cases backfire to the detriment of those it is intended to help, is one sobering example. In the administration of human affairs judgment is ubiquitous. We trust that this review serves to show that there is a need for the regulation of human judgment and that this should pay close attention to the findings of behavioral science research.
AYTON, P. and HELLERINGER, G. (2017). Arbitration and Psychology. Bias, Self-insight in Judgement and the Arbitrator’s Impartiality. In: The Roles of Psychology in International Arbitration. 1st ed. Wolters Kluwer, pp. 21-44.