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Economics of Commercial Arbitration and Dispute Resolution

Edited by Orley C. Ashenfelter, Joseph Douglas Green 1895 Professor of Economics, Princeton University, US and Radha K. Iyengar, Lecturer (Assistant Professor), Department of Economics, London School of Economics, UK and Affiliate, Centre for Economic Performance and the National Bureau of Economic Research
Edited by leading scholars, this set of previously published papers critically examines theoretical foundations as well as empirical and experimental evidence on arbitration behaviour. With emphasis upon international commercial dispute resolution in both developed and developing economies, this collection will be valued by legal professionals, economists and other interested scholars.
Extent: 592 pp
Hardback Price: $308.00 Web: $277.20
Publication Date: 2009
ISBN: 978 1 84720 332 8
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  • Economics and Finance
  • Law and Economics
  • Law - Academic
  • Arbitration and Dispute Resolution
  • Law and Economics
This volume presents the most important published articles on arbitration, which is now an established dispute resolution method for the international business community.

Complemented by the editors’ authoritative introduction, this collection critically examines theoretical foundations as well as empirical and experimental evidence on the nature, efficacy and limitations of commercial dispute arbitration. With emphasis on dispute resolution in both developed and developing economies, this timely volume is indispensable for researchers in law and economics.

Corporate and legal practitioners interested in the growing importance of arbitration in economic transactions will also find this an invaluable reference tool.
19 articles, dating from 1961 to 2003
Contributors include: B. Benson, L. Bernstein, A. Casella, C. Drahozal, H. Farber, K. Hylton, P. McConnaughay, K. Pistor, A. Shleifer, P. Zumbansen
Contents:

Acknowledgements

Introduction Orley C. Ashenfelter and Radha K. Iyengar

PART I GENERAL THEORY ON ARBITRATION AND DISPUTE RESOLUTION
1. Soia Mentschikoff (1961), ‘Commercial Arbitration’
2. Todd B. Carver and Albert A. Vondra (1994), ‘Alternative Dispute Resolution: Why It Doesn’t Work and Why It Does’
3. Steven Shavell (1995), ‘Alternative Dispute Resolution: An Economic Analysis’
4. Bruce L. Benson (1989), ‘The Spontaneous Evolution of Commercial Law’
5. Jonathan R. Hay and Andrei Shleifer (1998), ‘Private Enforcement of Public Laws: A Theory of Legal Reform’

PART II EMPIRICAL AND EXPERIMENTAL EVIDENCE ON ARBITRATION BEHAVIOR
6. Paul Pecorino and Mark Van Boening (2001), ‘Bargaining and Information: An Empirical Analysis of a Multistage Arbitration Game’
7. Orley Ashenfelter, Janet Currie, Henry S. Farber and Matthew Spiegel (1992), ‘An Experimental Comparison of Dispute Rates in Alternative Arbitration Systems’
8. Orley Ashenfelter and David E. Bloom (1984), ‘Models of Arbitrator Behavior: Theory and Evidence’

PART III ARBITRATION IN VARIOUS COMMERCIAL SETTINGS
9. Alan Schwartz (1997), ‘Contracting About Bankruptcy’
10. Alessandra Casella (1996), ‘On Market Integration and the Development of Institutions: The Case of International Commercial Arbitration’
11. Christopher R. Drahozal and Keith N. Hylton (2003), ‘The Economics of Litigation and Arbitration: An Application to Franchise Contracts’
12. Lisa Bernstein (1992), ‘Opting Out of the Legal System: Extralegal Contractual Relations in the Diamond Industry’
13. Phillip A. Miller (2000), ‘An Analysis of Final Offers Chosen in Baseball’s Arbitration System: The Effect of Pre-Arbitration Negotiation on the Choice of Final Offers’

PART IV COMMERCIAL DISPUTE ARBITRATION IN DEVELOPED, TRANSITIONAL AND DEVELOPING ECONOMIES
14. Bruce L. Benson (1995), ‘An Exploration of the Impact of Modern Arbitration Statutes on the Development of Arbitration in the United States’
15. Katharina Pistor (1996), ‘Supply and Demand for Contract Enforcement in Russia: Courts, Arbitration, and Private Enforcement’
16. Marcel Fafchamps (1996), ‘The Enforcement of Commercial Contracts in Ghana’

PART V INTERNATIONAL AND TRANSNATIONAL ARBITRATION
17. Philip J. McConnaughay (1999), ‘The Risks and Virtues of Lawlessness: A “Second Look” at International Commercial Arbitration’
18. Peer Zumbansen (2002), ‘Piercing the Legal Veil: Commercial Arbitration and Transnational Law’
19. Christopher R. Drahozal (2000), ‘Commercial Norms, Commercial Codes, and International Commercial Arbitration’

Name Index