Arbitration in the Shadow of the Law
AbstractArbitration is often characterized exclusively as a procedural option for resolution of contract disputes. Procedural benefits include the facts that: (1) arbitrators can be selected for their expertise in matters pertinent to a dispute, thus reducing the potential for judicial error as well as the time costs of and expenditures on dispute-resolution relative to litigation; (2) as a less adversial procedure than litigation, arbitration is more likely to sustain repeated-dealing relationships.
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Bibliographic InfoPaper provided by Department of Economics, Florida State University in its series Working Papers with number 1997_03_02.
Length: 15 pages
Date of creation: 1997
Date of revision:
Find related papers by JEL classification:
- K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
- J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation
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