TY  - RPRT
        AU  - Budd, John W.
AU  - Sojourner, Aaron
AU  - Jung, Jaewoo
        TI  - Are Voluntary Agreements Better? Evidence from Baseball Arbitration
        PY  - 2014/Apr/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 8098
        UR  - https://www.iza.org/publications/dp8098
        AB  - This paper empirically examines the widespread belief that voluntarily negotiated agreements produce better long-run relationships than third-party imposed settlements, such as arbitrator decisions or court judgments. Two key outcomes are analyzed – subsequent player performance and the durability of club-player relationship. Major League Baseball provides a compelling setting for these analyses because individual performance is well measured, there is the possibility of relationship breakdown, and both voluntary and imposed settlements are routinely used. While the results clearly show that a third-party imposed settlement is not better than a voluntary one, the evidence in support of the widespread belief is mixed.
        KW  - salary
KW  - negotiation
KW  - arbitration
KW  - dispute resolution
KW  - sports
KW  - baseball
        ER  -