Arbitration using the closest offer principle of arbitrator behavior

Alternating-offer games with final-offer arbitration

I analyze an alternating-offer model that integrates the common practice of having an arbitrator determine the outcomes if both players’ offers are rejected. I assume that the arbitrator uses final-offer arbitration (as in professional baseball). I find that if the arbitrator does not excessively favor one player, then the unique subgame-perfect equilibrium always coincides with the subgame-per...

The General Basis of Arbitrator Behavior; an Empirical .analysis of Cowentional .^nd Final-offer Arbitration

A Welfare Analysis of Arbitration∗

The paper compares conventional and final-offer arbitration from the welfare perspective. By some existing contractual arrangement, one party is supposed to make a payment to the other party, depending on the state of the world. Under asymmetric information, one party has a better signal about the state of the world and the other party is aware about its informational disadvantage. Then the ran...

Practice and Predicament: The Nationality of the International Arbitrator (With Survey Results)

This Essay builds on the available literature to date and offers a more probing examination of the international arbitrator and nationality. The opening section reiterates how arbitrator nationality relates to the traditional requirements of arbitrator impartiality, independence, and neutrality (with which the “arbitrator” is most synonymous); how arbitral rules seek diversity of nationality be...

ضرورت تسلیم رأی در مدت داوری

According to the new rules of civil procedure of Iran, if the verdict of an arbitrator be issued and delivered after the arbitration s period, it is void and won’t be executable. Thus every one of arbitration s party can ask the court to rescind the award. This subject caused many disagreements among lawyers .Some lawyers believe if the issue and delivery happen after determinate period for ...