This paper explores possible biases in open peer-review using data from the English superior courts. Exploiting the random timing of on-the-job interaction between reviewers and reviewees, we find evidence that reviewers are reluctant to reverse the judgments of reviewees with whom they are about to interact, and that this effect is stronger when reviewer and reviewee share the same rank. T…

One of the more debated interpretations of the economic crisis that started in 2007�08 is based on the �Taylor rule� equation, namely the idea that over the period 2002�05 the Fed has implemented a low-interest policy that has led to the housing bubble and finally to the �Great Recession�. This paper shows that the Taylor rule equation not only rests on the so-…

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The archetype of the New Deal agency, exercising neutral, technocratic expertise, is no longer tenable. As Richard Stewart (1975. �Reformation of Administrative Law,� 88 Harvard Law Review 1667�813) noted 35 years ago, administrative law �is undergoing a fundamental transformation.� Following Stewart, the modern explanation in legal scholarship of the transformation…

From the 1920s to the 1960s, seven major International Oil Companies (IOCs) were almost the only market players in the global petroleum industry. Their share of oil and gas reserves, however, fell dramatically from about 85 per cent in 1970 to less than 10 per cent today. Changes in the competitive dynamics of the upstream petroleum industry are, however, less studied areas in the literature.…

The importance of substantial and sustained investment in the energy sector cannot be overstated. The protections offered to private investors through the global network of bilateral investment treaties (BITs), including investor-state dispute settlement (ISDS) are particularly significant for the energy sector. However, the ISDS system that has been so significant in encouraging investment is …

A number of recent governmental actions have impacted energy companies� abilities to perform under contracts relating to the extraction and export of natural resources in countries such as Russia, Iraq, and Libya. What steps can a company take to protect itself when relations between oil-rich countries and the West deteriorate? Should a company continue performing under its contract at the…

At their core, natural gas and LNG price review claims focus on evaluating whether or not the applicable contract sales price aligns with the various benchmarks specified in the underlying contract. While price review clauses are drafted in different ways, the common premise is a simple one. Its application, however, is mired in nuance and potential pitfalls. In this article, we consider the co…

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