The Library
Mediation, arbitration and negotiation
Tools
Goltsman, Maria, Hörner, Johannes, Pavlov, Gregory and Squintani, Francesco (2009) Mediation, arbitration and negotiation. Journal of Economic Theory, Vol.144 (No.4). pp. 1397-1420. doi:10.1016/j.jet.2008.08.010 ISSN 0022-0531.
Research output not available from this repository.
Request-a-Copy directly from author or use local Library Get it For Me service.
Official URL: http://dx.doi.org/10.1016/j.jet.2008.08.010
Abstract
We compare three common dispute resolution processes – negotiation, mediation, and arbitration – in the framework of Crawford and Sobel [V. Crawford, J. Sobel, Strategic information transmission, Econometrica 50 (6) (1982) 1431–1451]. Under negotiation, the two parties engage in (possibly arbitrarily long) face-to-face cheap talk. Under mediation, the parties communicate with a neutral third party who makes a non-binding recommendation. Under arbitration, the two parties commit to conform to the third party recommendation. We characterize and compare the optimal mediation and arbitration procedures. Both mediators and arbitrators should optimally filter information, but mediators should also add noise to it. We find that unmediated negotiation performs as well as mediation if and only if the degree of conflict between the parties is low.
Item Type: | Journal Article | ||||
---|---|---|---|---|---|
Subjects: | H Social Sciences > HB Economic Theory | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Journal or Publication Title: | Journal of Economic Theory | ||||
Publisher: | Academic Press | ||||
ISSN: | 0022-0531 | ||||
Official Date: | July 2009 | ||||
Dates: |
|
||||
Volume: | Vol.144 | ||||
Number: | No.4 | ||||
Number of Pages: | 24 | ||||
Page Range: | pp. 1397-1420 | ||||
DOI: | 10.1016/j.jet.2008.08.010 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Request changes or add full text files to a record
Repository staff actions (login required)
View Item |