Potential and Limits of the Economic Analysis of International Law: A View from Public International Law

The law-and-economics movement has only recently turned its attention to public international law, where it has encountered a particular set of epistemological problems, from the question of the relevant actors to the assumption of their rationality. This article argues that, while law and economics in its different shades constitutes an important contribution to present-day international legal scholarship, it will complement, but not replace, doctrinal normative analysis. It may, in particular, provide insights into the consequences of international legal regulation and provide for alternative solutions to collective-action problems.