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The Role of Learning in Arbitration: An Exploratory Experiment

In: Advances in Understanding Strategic Behaviour

Author

Listed:
  • Gary E. Bolton
  • Elena Katok

Abstract

Having an arbitrator decide the outcome of a negotiation avoids the losses associated with a bargaining impasse. For example, in the public sector of the USA, arbitration is commonly mandated for failed labour negotiations to save the public the costs associated with, say, a police or firefighters’ strike.1 By definition, arbitration involves an outside party, the arbitrator, with the authority to impose a binding settlement on the disputing parties. (In contrast, a mediator is someone who can suggest, but not impose, a settlement.) We say that there is a ‘dispute’ when bargaining ends without a voluntary agreement. When we say ‘bargaining with arbitration’, we mean a negotiation in which arbitration is required in case of dispute. We shall focus here on repeated bargaining relationships, which is a common context for binding arbitration.

Suggested Citation

  • Gary E. Bolton & Elena Katok, 2004. "The Role of Learning in Arbitration: An Exploratory Experiment," Palgrave Macmillan Books, in: Steffen Huck (ed.), Advances in Understanding Strategic Behaviour, chapter 11, pages 235-257, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52337-1_11
    DOI: 10.1057/9780230523371_11
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    Cited by:

    1. Gabuthy, Yannick & Jacquemet, Nicolas & Marchand, Nadège, 2008. "Does resorting to online dispute resolution promote agreements? Experimental evidence," European Economic Review, Elsevier, vol. 52(2), pages 259-282, February.
    2. Gabuthy, Yannick & Jacquemet, Nicolas & Marchand, Nadège, 2008. "Does resorting to online dispute resolution promote agreements? Experimental evidence," European Economic Review, Elsevier, vol. 52(2), pages 259-282, February.

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