Ex aequo et bono is a legal concept that confers on arbitrators the power to decide a dispute in accordance with their sense of fairness and good conscience, instead of rigorously applying terms of a specific body of law. The principle has been unpopular in contemporary arbitration practice because there has been a tacit understanding…

„The children now love luxury; they have bad manners, contempt for authority […]. They contradict their parents […] and tyrannize their teachers.“ This complaint sounds familiar, but the quote is actually attributed to Socrates. As every generation after him seems to have had the same sensation, children’s behaviour must have constantly deteriorated over the last…