(WTO) is an incomplete contract among sovereign states. Incomplete contracts contain gaps. Ex post, contractual gaps may … backtracking behavior. This paper examines the somewhat understudied issue of optimal trade policy flexibility design in the WTO … “liability rule” of escape), or a bilateral renegotiation provision (a “property rule” of escape). Modeling the WTO as a fully …

which has permeated WTO scholarship for the last 10 years. Our main criticism concerns the substance of the entire debate … subsequent issues of WTO enforcement and the interpretation of the wording of the dispute settlement understanding. They thereby … along the lines of the nature of the WTO contract. This results in to three key findings: First, none of the two schools of …

success of the World Trade Organization (WTO) is a regulatory approach that includes rules designed, and tested in practice … reform of the rules and institutions governing finance and trade in the global economy, and the role the WTO should play in …

investment treaty and the WTO agreement. On the basis of a number of case studies, it considers how MSENs are affected by … international legal order. It focuses, in particular, on the WTO-authorised suspension of TRIPS concessions that may breach … obligations that might also breach WTO rules (using the US-Mexico soft drinks disputes in NAFTA and the WTO as a case study). It …