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Arbitration in the Shadow of the Law


  • Benson, B.L.


Arbitration 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.

Suggested Citation

  • Benson, B.L., 1997. "Arbitration in the Shadow of the Law," Working Papers 1997_03_02, Department of Economics, Florida State University.
  • Handle: RePEc:fsu:wpaper:1997_03_02

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    References listed on IDEAS

    1. Montgomery, Edward, 1992. "Evidence on metropolitan wage differences across industries and over time," Journal of Urban Economics, Elsevier, vol. 31(1), pages 69-83, January.
    2. Gyourko, Joseph & Tracy, Joseph, 1991. "The Structure of Local Public Finance and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 99(4), pages 774-806, August.
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    8. Randall W. Eberts & Joe A. Stone, 1992. "Wage and Employment Adjustment in Local Labor Markets," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number wea, November.
    9. repec:hoo:wpaper:e-94-11 is not listed on IDEAS
    10. Glaeser, E. L., 1998. "Should transfer payments be indexed to local price levels?," Regional Science and Urban Economics, Elsevier, vol. 28(1), pages 1-20, January.
    11. Glaeser, Edward L & Mare, David C, 2001. "Cities and Skills," Journal of Labor Economics, University of Chicago Press, vol. 19(2), pages 316-342, April.
    12. David E. Bloom & Gilles Grenier, 1993. "Language, Employment and Earnings in the United States: Spanish-English Differentials from 1970 to 1990," NBER Working Papers 4584, National Bureau of Economic Research, Inc.
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    More about this item



    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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