Economists as Arbitrators

In this Essay, J. Gregory Sidak examines the use of economists as arbitrators or tribunal-appointed neutral experts in international arbitration in effort to raise the standard of party-expert testimony and expedite the determination of quantum. Mr. Sidak argues that either approach would expedite arbitration by causing parties to submit more realistic estimates of quantum and to explain in a more systematic and helpful manner the robustness of those estimates and the assumptions underlying them. Gregory Sidak draw insights from his experience as a court-appointed neutral economic expert on damages for Judge Richard Posner in two patent litigations. Sidak concludes that both the selection of an arbitrator with economic expertise and the tribunal's appointment of a neutral economic expert would create greater benefits than costs for the parties to the arbitration.