I. Mapping the terrain -- From an invisible college to an ethical No-Man's Land -- Arbitrators, barbers, and taxidermists -- Attorneys, barbarians, and guerrillas -- Experts, partisans, and hired guns -- Gamblers, loan sharks, and third-party funders -- II. Staking out theoretical boundaries and building the regime -- Chanticleer, the fox and self-regulation -- Ariadne's thread and the functional thesis -- Herodotian myths and the impartiality of arbitrators -- Duck-rabbits, a panel of monkeys, and the status of international arbitrators -- Castles in the air and the future of ethics in international arbitration.