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Mediation, Walrasian Tâtonnement, and Negotiations as an Exchange Economy

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Author Info
David Dickinson

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Abstract

Alternative dispute resolution (ADR) procedures, such as mediation and arbitration, are becoming increasingly used to help resolve disputes in a variety of areas. Among ADR procedures, mediation is the most utilized yet least analyzed procedure. This article examines negotiations and dispute resolution using the tools of general equilibrium theory. Specifically, mediators function as the Walrasian auctioneers of exchange theory by altering trade-off rates among bargaining issues. In this way, mediators facilitate a process leading towards voluntary settlements. This idea of Walrasian mediation is supported by the literature on mediation and mediator techniques, and so this insight opens up mediation to much more rigorous economic analysis. Among the implications of this approach are: (1) successful mediation leads to Pareto efficient settlements; (2) non-neutral mediators can guide negotiators towards preferred outcomes by introducing resources into mediation; (3) mediation Pareto dominates arbitration for resolving disputes.

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File URL: ftp://repec.bus.usu.edu/RePEc/usu/pdf/ERI2003-11.pdf
File Format: application/pdf
File Function: First version, 2003
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Publisher Info
Paper provided by Utah State University, Department of Economics in its series Working Papers with number 2003-11.

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Length: 25 pages
Date of creation: Sep 2003
Date of revision:
Handle: RePEc:usu:wpaper:2003-11

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Related research
Keywords: mediation; dispute resolution; exchange economy;

Other versions of this item:

Find related papers by JEL classification:
J52 - Labor and Demographic Economics - - Labor-Management Relations, Trade Unions, and Collective Bargaining - - - Dispute Resolution: Strikes, Arbitration, and Mediation
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

References listed on IDEAS
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  1. Orley Ashenfelter & David E. Bloom, 1983. "Models of Arbitrator Behavior: Theory and Evidence," NBER Working Papers 1149, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Rubinstein, Ariel, 1982. "Perfect Equilibrium in a Bargaining Model," Econometrica, Econometric Society, vol. 50(1), pages 97-109, January. [Downloadable!] (restricted)
  3. Henry S. Farber, 1981. "Splitting-the-difference in interest arbitration," Industrial and Labor Relations Review, ILR Review, ILR School, Cornell University, vol. 35(1), pages 70-77, October.
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