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To Arbitrate or To Litigate: That Is the Question

  • Bruce Benson

    ()

To the degree that arbitration might be considered in the law and economics literature it is typically treated as a procedural choice for resolution of a contract disputes, and it clearly is true that arbitration may be chosen for any of a number of procedural advantages. For instance, arbitrators can be selected on the basis of their expertise in matters pertinent to specific disputes and reputation for impartiality, thus reducing the uncertainty associated with judicial error and or bias.

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File URL: http://hdl.handle.net/10.1023/A:1008762907114
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Article provided by Springer in its journal European Journal of Law and Economics.

Volume (Year): 8 (1999)
Issue (Month): 2 (September)
Pages: 91-151

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Handle: RePEc:kap:ejlwec:v:8:y:1999:i:2:p:91-151
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  1. Shavell, Steven, 1995. "Alternative Dispute Resolution: An Economic Analysis," The Journal of Legal Studies, University of Chicago Press, vol. 24(1), pages 1-28, January.
  2. David E. Bloom & Christopher L. Cavanagh, 1986. "An Analysis of the Selection of Arbitrators," NBER Working Papers 1938, National Bureau of Economic Research, Inc.
  3. Benson, B.L., 1991. "Customary law as a Social Contract Internatioanl Commercial Law," Working Papers 1991_04_10, Department of Economics, Florida State University.
  4. Becker, Gary S, 1983. "A Theory of Competition among Pressure Groups for Political Influence," The Quarterly Journal of Economics, MIT Press, vol. 98(3), pages 371-400, August.
  5. Haggard, Stephan & McMillan, John & Woodruff, Christopher, 1996. "Trust and Search in Vietnam's Emerging Private Sector," CEPR Discussion Papers 1506, C.E.P.R. Discussion Papers.
  6. Cooter, Robert D., 1994. "Structural adjudication and the new law merchant: A model of decentralized law," International Review of Law and Economics, Elsevier, vol. 14(2), pages 215-231, June.
  7. Williamson, Oliver E, 1983. "Credible Commitments: Using Hostages to Support Exchange," American Economic Review, American Economic Association, vol. 73(4), pages 519-40, September.
  8. William M. Landes & Richard A. Posner, 1978. "Adjudication as a Private Good," NBER Working Papers 0263, National Bureau of Economic Research, Inc.
  9. Crew, Michael A & Twight, Charlotte, 1990. " On the Efficiency of Law: A Public Choice Perspective," Public Choice, Springer, vol. 66(1), pages 15-36, July.
  10. Benson, B.L., 1996. "The Evolution of Commercial Law," Working Papers 1996_09_04, Department of Economics, Florida State University.
  11. Benson, Bruce L, 1999. " An Economic Theory of the Evolution of Governance and the Emergence of the State," The Review of Austrian Economics, Springer, vol. 12(2), pages 131-60, November.
  12. Alessandra Casella., 1992. "Arbitration in International Trade," Center for International and Development Economics Research (CIDER) Working Papers C92-003, University of California at Berkeley.
  13. Benson, Bruce L., 1988. "Corruption in law enforcement: one consequence of "The tragedy of the commons" arising with public allocation processes," International Review of Law and Economics, Elsevier, vol. 8(1), pages 73-84, June.
  14. Ekelund, Robert B, Jr & Tollison, Robert D, 1980. "Economic Regulation in Mercantile England: Heckscher Revisited," Economic Inquiry, Western Economic Association International, vol. 18(4), pages 567-99, October.
  15. Stigler, George J, 1992. "Law or Economics?," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 455-68, October.
  16. Tullock, Gordon, 1985. "Adam Smith and the Prisoners' Dilemma," The Quarterly Journal of Economics, MIT Press, vol. 100(5), pages 1073-81, Supp..
  17. Bernstein, Lisa, 1992. "Opting Out of the Legal System: Extralegal Contractual Relations in the Diamond Industry," The Journal of Legal Studies, University of Chicago Press, vol. 21(1), pages 115-57, January.
  18. repec:cto:journl:v:18:y:1998:i:2:p: is not listed on IDEAS
  19. Benson, Bruce L, 1995. "An Exploration of the Impact of Modern Arbitration Statutes on the Development of Arbitration in the United States," Journal of Law, Economics and Organization, Oxford University Press, vol. 11(2), pages 479-501, October.
  20. Benson, B.L., 1997. "Endogenous Morality," Working Papers 1997_09_01, Department of Economics, Florida State University.
  21. Williamson, Oliver E, 1991. "Economic Institutions: Spontaneous and Intentional Governance," Journal of Law, Economics and Organization, Oxford University Press, vol. 7(0), pages 159-87, Special I.
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