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Divergent Expectations as a Cause of Disagreement in Bargaining: Evidence from a Comparison of Arbitration Schemes

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Author Info
Farber, Henry S
Bazerman, Max H
Abstract

The fact that settlement rates are much higher where final-offer arbitration, rather than conventional arbitration, is the dispute settlement procedure is used as the basis of a test of the role of divergent and relatively optimistic expectations in causing disagreement in negotiations. Calculations of identical-expectations contract zones, using existing estimates of models of arbitrator behavior, yield larger identical-expectations contract zones in conventional arbitration than in final-offer arbitration. This evidence clearly suggests that divergent expectations alone are not an adequate explanation of disagreement in labor-management negotiations. A number of alternative explanations for disagreement are suggested and evaluated. Copyright 1989, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Publisher Info
Article provided by MIT Press in its journal Quarterly Journal of Economics.

Volume (Year): 104 (1989)
Issue (Month): 1 (February)
Pages: 99-120
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Handle: RePEc:tpr:qjecon:v:104:y:1989:i:1:p:99-120

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  1. Juan Pablo Montero, 2004. "A Model of Arbitration in Regulation," Documentos de Trabajo 267, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
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  2. Murphy, James & Dinar, Ariel & Howitt, Richard & Mastrangelo, Erin & Rassenti, Stephen & Smith, Vernon, 2002. "Mechanisms For Addressing Third-Party Impacts Resulting From Voluntary Water Transfers," 2002 Annual meeting, July 28-31, Long Beach, CA 19812, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Orley Ashenfelter & Gordon Dahl, 2003. "Strategic Bargaining Behavior, Self-Serving Biases, and the Role of Expert Agents An Empirical Study of Final-Offer Arbitration," Working Papers 857, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
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  4. Raquel Fernandez & Jacob Glazer, 1989. "Striking for a Bargain Between Two Completely Informed Agents," NBER Working Papers 3108, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  5. Juan Pablo Montero, 2004. "Learning in Final-Offer Arbitration with Multiple Offers," Documentos de Trabajo 270, Instituto de Economía. Pontificia Universidad Católica de Chile.. [Downloadable!]
  6. David Dickinson, 2005. "Bargaining Outcomes with Double-Offer Arbitration," Experimental Economics, Springer, vol. 8(2), pages 145-166, June. [Downloadable!] (restricted)
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  7. repec:fth:prinin:267 is not listed on IDEAS
  8. Cary Deck & Amy Farmer & Dao-Zhi Zeng, 2007. "Amended final-offer arbitration over an uncertain value: A comparison with CA and FOA," Experimental Economics, Springer, vol. 10(4), pages 439-454, December. [Downloadable!] (restricted)
  9. Muhamet Yildiz, 2002. "Bargaining over Risky Assets," The B.E. Journal of Theoretical Economics, Berkeley Electronic Press, vol. 0(1). [Downloadable!]
  10. Orley Ashenfelter & Janet Currie & Henry S. Farber & Matthew Spiegel, 1990. "An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems," Working Papers 647, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
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  11. repec:fth:prinin:260 is not listed on IDEAS
  12. Orley Ashenfelter & Janet Currie, 1990. "Negotiator Behavior and the Occurrence of Disputes," Working Papers 640, Princeton University, Department of Economics, Industrial Relations Section.. [Downloadable!]
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  13. Arnoud W.A. Boot & Anjan V. Thakor, 2003. "The Economic Value of Flexibility when there is Disagreement," Tinbergen Institute Discussion Papers 03-002/2, Tinbergen Institute. [Downloadable!]
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