IDEAL DEFAULT FOR RESOLVING DISPUTES EFFICIENTLY

IF 1.3 3区 经济学 Q2 ECONOMICS
Nejat Anbarci, Gorkem Celik
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引用次数: 0

Abstract

We study arbitration mechanisms where two parties to the dispute have single-peaked preferences over outcomes, represented by concave utility functions. The most preferred outcome of each party is her private information. By participating in an arbitration mechanism, the parties forfeit the default outcome, which is set without consideration of private preferences. We show that the ideal default outcome for efficient dispute resolution maximizes the sum of the reservation payoffs of the most difficult agent types to persuade to participate in the mechanism. This result is contrary to the conventional wisdom that an unattractive default could force the parties to agree.

Abstract Image

有效解决纠纷的理想默认值
我们研究了争端双方对结果有单峰偏好的仲裁机制,用凹效用函数表示。双方最希望得到的结果是她的私人信息。通过参与仲裁机制,各方放弃了默认结果,而默认结果是在不考虑私人偏好的情况下设定的。我们证明了有效争议解决的理想默认结果是最难说服的代理类型的保留收益的总和最大化。这一结果与传统观点相反,即不引人注目的违约可能迫使各方达成协议。
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来源期刊
CiteScore
2.60
自引率
0.00%
发文量
0
期刊介绍: The International Economic Review was established in 1960 to provide a forum for modern quantitative economics. From its inception, the journal has tried to stimulate economic research around the world by publishing cutting edge papers in many areas of economics, including econometrics, economic theory, macro, and applied economics.
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