search query: @author Brams, S. J. / total: 4
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| Author: | Brams, S. J. Merrill, S. |
| Title: | Binding versus final-offer arbitration : a combination is best. |
| Journal: | Management Science
1986 : OCT, VOL. 32:10, p. 1346-1355 |
| Index terms: | ARBITRATION BARGAINING GAME THEORY |
| Language: | eng |
| Abstract: | A new procedure - combined arbitration (CA)- is proposed for settling disputes. It combines binding arbitration (BA) and final-offer arbitration (FOA). CA includes the two parties to converge in making their final offers. When modelled as a two-person,zero-sum game of imperfect information,convergence is to the media and constitutes a global equilibrium if the probability distribution is continuous,unimodal and symmetric about the median. When it is not symmetric or the two parties have different distributions,alternative solutions are derived. Alternatives to arbitrator's decision calculus are also considered. |
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