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A key feature of arbitration is the possibility for con icting parties to participate in the selection of the arbitrator, the individual who will rule the case. We analyze this problem of the selection of arbitrators from the perspective of implementation theory. In particular, theoretical...
Persistent link: https://www.econbiz.de/10010949123
Implementation theory assumes that participants' choices are rational, in the sense of being consistent with the maximization of a context- independent preference. The paper investigates implementation under complete information when individuals' choices need not be rational.
Persistent link: https://www.econbiz.de/10010949124