In 2007-2008, the writer’s guild of America went on strike in order to receive a better outcome from management. We built a game to analyze the situation. The Nash equilibrium of that game says that the writers shoul...In 2007-2008, the writer’s guild of America went on strike in order to receive a better outcome from management. We built a game to analyze the situation. The Nash equilibrium of that game says that the writers should not strike and that management should maintain the status quo. The equilibrium is quite unattractive to the writers leading to a strike and forcing management to negotiate. We illustrate the results in order to gain insights into the process. We demonstrate finding the Nash equilibrium with both ordinal and then cardinal values. We demonstrate a method to find the cardinal values using the analytical hierarchy processes to measure the utility for the strategies. We show finding the prudential strategies and security levels as well as finding threat levels in this example. We show using the threat level in Nash arbitration leads to a better solution for the writers than using the security levels.展开更多
Along with the increasing use of multi-party arbitration, mounting issues relating to it have recently become heated topics. One of the various facets concerning the availability of class arbitration has gathered over...Along with the increasing use of multi-party arbitration, mounting issues relating to it have recently become heated topics. One of the various facets concerning the availability of class arbitration has gathered overwhelming discussion in the US. According to the decisions of the United States Supreme Court, whether class action is applicable is probably decided by the arbitrator＇s interpretation of the parties＇ intent when an adequately drafted arbitration clause is silent on this issue, regardless of the correctness of his/her construing of the contracts. The contract interpretation theory is a conclusion of existing jurisprudence while the question of arbitrability doctrine may be a hint or inkling from a recent court decision. Comparing these two sides, it is better to regard the availability of class arbitration for silent agreements as a matter of contract interpretation. Although it is preferable to regard the availability issue of class action as a contract interpretation question, some restrictions on the arbitrators＇ broad contract interpretation needs to be imposed so that the parties＇ real intent can be properly enforced.展开更多
文摘In 2007-2008, the writer’s guild of America went on strike in order to receive a better outcome from management. We built a game to analyze the situation. The Nash equilibrium of that game says that the writers should not strike and that management should maintain the status quo. The equilibrium is quite unattractive to the writers leading to a strike and forcing management to negotiate. We illustrate the results in order to gain insights into the process. We demonstrate finding the Nash equilibrium with both ordinal and then cardinal values. We demonstrate a method to find the cardinal values using the analytical hierarchy processes to measure the utility for the strategies. We show finding the prudential strategies and security levels as well as finding threat levels in this example. We show using the threat level in Nash arbitration leads to a better solution for the writers than using the security levels.
文摘Along with the increasing use of multi-party arbitration, mounting issues relating to it have recently become heated topics. One of the various facets concerning the availability of class arbitration has gathered overwhelming discussion in the US. According to the decisions of the United States Supreme Court, whether class action is applicable is probably decided by the arbitrator＇s interpretation of the parties＇ intent when an adequately drafted arbitration clause is silent on this issue, regardless of the correctness of his/her construing of the contracts. The contract interpretation theory is a conclusion of existing jurisprudence while the question of arbitrability doctrine may be a hint or inkling from a recent court decision. Comparing these two sides, it is better to regard the availability of class arbitration for silent agreements as a matter of contract interpretation. Although it is preferable to regard the availability issue of class action as a contract interpretation question, some restrictions on the arbitrators＇ broad contract interpretation needs to be imposed so that the parties＇ real intent can be properly enforced.
