This book, based upon a doctoral thesis adopted by the Faculty of Law of the University of Bern, Switzerland, and which at the time was supported by the Swiss National Research Foundation and undertaken in the context of NCCR International Trade Regulation which I had the pleasure to direct, undertakes an updated in-depth analysis of these underlying perceptions. Michael Burkard expounds the essence and differences of positivism and relativism in philosophy and natural sciences. He clarifies the relationship of fundamental concepts such as risk, hazards and probability. This investigation is a remarkable effort on the part of a lawyer keen to learn more about the fundamentals based upon which the law—often unconsciously—is operated by the legal profession and the trade community. Based on these insights, Michael turns to a critical assessment of jurisprudence both of panels and the Appellate Body.