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An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems

Orley Ashenfelter, Janet Currie, Henry S. Farber and Matthew Spiegel
Econometrica
Vol. 60, No. 6 (Nov., 1992), pp. 1407-1433
Published by: The Econometric Society
DOI: 10.2307/2951527
Stable URL: http://www.jstor.org/stable/2951527
Page Count: 27
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems
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Abstract

This paper reports the results of a systematic experimental comparison of the effect of alternative arbitration systems on dispute rates. By using a common underlying distribution of arbitrator "fair" awards in the different arbitration systems we are able to compare dispute rates across different arbitration procedures while holding fixed the amount of objective uncertainty the bargainers face. The three main findings indicate that (i) dispute rates are inversely related to the monetary costs of disputes, (ii) the dispute rate in a final-offer arbitration system is at least as high as the dispute rate in a comparable conventional arbitration system, and (iii) dispute rates are inversely related to the uncertainty costs of disputes, indicating that some bargainers behave as if they were risk averse.

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