A. Reasons Underlying the Excess of Procedural Requests: Parties’ Perspective
Starting point of a reasoning aimed at exploring why parties to an arbitration often…
At the time they enter into an arbitration agreement that is silent on the procedure…
Contrary to their ex-ante expectation, it is well known that, once a dispute arises…
While at t0 parties (being in a cooperative disposition) mutually agree to defer…
This inconsistency between the preferences of the same party at t0 and t1 finds an…
The parties’ inconsistent behavior at t0 and at t1 may also be understood by bringing…
As explained by cognitive psychologists, an individual can be thought of as consisting…
On the one side, there is a forward-looking self, who thinks about the future in…
On the other side, there is a second self that is completely selfish and that surrenders…
The tension between the two selves can be explained in light of the fact that individuals…
Just like any other individuals, it is possible to argue that the parties to arbitration…
At the time parties enter into an arbitration agreement they behave as cool and rational…
Notwithstanding these good intentions, once parties find themselves in the middle…
In the struggle between long-term preferences (e.g., preserving the benefits of an…
As it will be discussed later, understanding parties’ time-inconsistent behavior…
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