Publisher's Synopsis
Excerpt from Arbitrator Decision Making: When Are Final Offers Important?
Of central importance in the process of collective bargaining is the mechanism for settling disputes that arise when the parties fail to reach agreement. It determines not only the terms of agreement in all cases but also the probability of reaching agreement without resort to the dispute settlement mechanism. While the strike is the dominant mode for settling disputes that arise in the course of negotiating labor contracts, arbitration procedures have become particularly important in areas, such as the public sector, where strikes are not allowed. These procedures are characterized by a third party making a binding decision.
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