The Advisory Board evaluates the academic work of the institute and compares it with other institutes. Furthermore, it consults with the president of the Max Planck Society regarding the academic progress made by the institute. The Scientific Advisory Board members are internationally recognized researchers within and outside of Germany, whose expertise stretches across the Institute's research spectrum. The advisory board generally meets once every three years.
| Position | Country | |
| Prof. Michelle R. Garfinkel, Ph.D. | University of California-Irvine Department of Economics | U.S. |
| Prof. Scott Gates, Ph.D. | Universitetet i Oslo Institutt for statsvitenskap (ISV) | Norway |
| Prof. Dr. Sigrid Hemels | Erasmus University Rotterdam School of Law | The Netherlands |
| Prof. Jinyan Li, Ph.D. | York University Osgoode Hall Law School | Canada |
| Prof. Dr. Hanno Merkt | University of Freiburg Institut für Ausländisches und Internationales Privatrecht | Germany |
| Prof. Sara McLaughlin Mitchell, Ph.D. | University of Iowa Department of Political Science | U.S. |
| Prof. Dr. Kerstin Röder | University of Augsburg Department of Economics | Germany |
| Prof. Miranda Stewart | The University of Melbourne Melbourne Law School | Australia |