Two decades ago the Supreme Court interpreted the Federal Arbitration Act of 1925 as proclaiming a "national policy favoring arbitration." Since then the Court has significantly federalized commercial arbitration. The essay outlines a blueprint of "arbitration federalism" - preemption principles...

The decision of a firm to divest itself of a portion of its assets has important implications for economic efficiency. These implications have been examined extensively in the financial economics literature. One dimension of that decision that has been largely overlooked in this literature is...