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A settlement is an agreement between parties to a dispute. In everyday parlance and in academic scholarship, settlement is juxtaposed to trial or some other method of dispute resolution in which a third-party factfinder ultimately picks a winner and announces a score. The “trial versus...
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Two risk-averse litigants with different subjective beliefs negotiate in the shadow of a pending trial. Through contingent contracts, the litigants can mitigate risk and/or speculate on the trial outcome. The opportunity for contingent contracting decreases the settlement rate and increases the...
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This paper reports the results of a systematic experimental comparison of the effect of alternative arbitration systems …" awards in the different arbitration systems. This allows us to compare dispute rates across different arbitration procedures … where we hold fixed the amount of objective underlying uncertainty about the arbitration awards …
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Courts rely on the "national policy favoring arbitration" to restrict the review of arbitration agreements under state … arbitration clauses that provide complete immunization from both class actions and classwide arbitrations. As potential defedants … should courts use the "national policy favoring arbitration" to protect consumer arbitration agreements that prohibit all …
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In this paper we study the complete evolution of a final-offer arbitration system used in New Jersey with data we have …
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