Inauguration of the Study Hub for International Economic Law and Development (SHIELD)
It is a distinct pleasure to invite you to the Inauguration of the Study Hub for International Economic Law and Development (SHIELD).
SHIELD is a research group at the Faculty of Law, focusing on the issues of international trade, investment and commercial law, as well as dispute resolution in these fields. The Hub also examines intersections between economic and non-economic values and interests, including environment, sustainability and efficiency, health, and cultural heritage.
|14:00-14:05||Opening of the event and welcome remarks - Prof. Henrik Palmer Olsen, Associate Dean of Research|
|14:05-14:10||Introduction of SHIELD - Prof. mso Joanna Lam, Director of SHIELD|
|14:10-14:55||Keynote Lecture - Prof. Anne van Aaken , Director of the Institute of Law and Economics, University of Hamburg
“Beyond Rational Choice: International Trade Law and the Behavioral Political Economy of Protectionism”
Anne van Aaken
Alexander von Humboldt Professor, Chair for Law and Economics, Legal Theory, Public International Law and European Law; Director of the Institute of Law and Economics, University of Hamburg
Beyond Rational Choice: International Trade Law and the Behavioral Political Economy of Protectionism
The classic political economy of trade models state behavior on the international plane by reference to the formation of domestic interests. Voters, interest groups and politicians are rational actors in this model, pursuing their economic preferences without cognitive or motivational distortions. We question the sufficiency of the rational choice model in the formation of contemporary trade policy. Starting from the classic political economy story, we explore real world deviations from rationally expected outcomes by drawing on cognitive psychology. Using both theoretical and empirical analysis, we seek to identify key distortions that can better explain voter and politician behavior in the current trade wars. We begin with loss aversion in that individuals have asymmetrical attitudes towards gains and losses. Rising inequality within the rich world amounts to a perceived relative loss particularly for middle-class citizens. Combined with the absolute rise of equality between countries, this can trigger a double loss frame – both as an individual loss and a national loss – that can profoundly shape anti-trade preferences in certain countries. Framing trade as a security threat also invokes powerful hawkish biases. Lastly, the availability bias can be provoked by social media mechanisms making people tend to focus on particular risks and overweight their import.
|14:55-15:05||Discussant - Prof. Wusheng Yu, University of Copenhagen|
Conference/flex room, ground floor, room 8A.0.57, Njalsgade 76, DK-2300 Copenhagen S
The reception will take place in Pejsestuen – the area next to Flexrummet
While the event is open to the public, registration is required.
For participation in the event please use this registration form no later 5 February 2020.