Baseball arbitration
Not what you're looking for?
Have you heard of "baseball arbitration"? This style of arbitration is used in other fields beside major league baseball. In baseball style arbitration, each side separately proposes an offer to the arbitrator. The arbitrator then picks one of the offers and that's the decision (no middle ground). So, if one party offers $1 and the other offers 1,000,000, the arbitrator cannot split the difference, but must award either $1 or $1,000,000. This style arbitration has the effect of forcing both parties to submit an offer that is realistic. It also prevents the arbitrator from just "splitting the difference" which happens a lot in regular arbitration.
What are your thoughts? Is this a good model for business? What problems exist with this style?
Gives concise answer to this question at approximately 409 words.
Purchase this Solution
Solution Summary
Gives concise answer to this question at approximately 409 words.
Solution Preview
Thank you for choosing BrainMass for assistance.
Liz
OTA
There are actually two kinds of "baseball arbitration". One is "day baseball arbitration" and the other is "night baseball arbitration". "Day baseball arbitration" is where the arbitrator is aware of the proposed awards and chooses the one that is most appropriate for the situation. The "night baseball arbitration" is when the awards are kept confidential and the arbitrator has no idea what has been proposed by both sides. The arbitrator crunches the numbers and comes up with what he/she believes is the best ...
Purchase this Solution
Free BrainMass Quizzes
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Introduction to Finance
This quiz test introductory finance topics.
Social Media: Pinterest
This quiz introduces basic concepts of Pinterest social media
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)