Economics Today and Tomorrow, Student Edition
1st Edition
ISBN: 9780078747663
Author: McGraw-Hill
Publisher: Glencoe/McGraw-Hill School Pub Co
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Question
Chapter 12.3, Problem 4R
To determine
To evaluate: the comparison between mediation and arbitration.
Expert Solution & Answer
Explanation of Solution
A type of alternative conflict resolution, in which the parties concerned carry their conflict to a neutral third party who assists them in finding a settlement, is called mediation. Mediation is usually non-binding, unless the parties consent to a settlement that results.
Arbitration is a conflict resolution process between investors and brokers, or between brokers. The Financial Industry Regulatory Authority (FINRA) regulates this, and the rulings are final and binding. Arbitration is different from mediation, where parties meet to arrive at a negotiated settlement, and agreements are not binding until both parties consent.
Chapter 12 Solutions
Economics Today and Tomorrow, Student Edition
Ch. 12.1 - Prob. 1RCh. 12.1 - Prob. 2RCh. 12.1 - Prob. 3RCh. 12.1 - Prob. 4RCh. 12.2 - Prob. 1RCh. 12.2 - Prob. 2RCh. 12.2 - Prob. 3RCh. 12.2 - Prob. 4RCh. 12.3 - Prob. 1RCh. 12.3 - Prob. 3R
Ch. 12.3 - Prob. 4RCh. 12 - Prob. 1AACh. 12 - Prob. 2AACh. 12 - Prob. 3AACh. 12 - Prob. 4AACh. 12 - Prob. 5AACh. 12 - Prob. 6AACh. 12 - Prob. 7AACh. 12 - Prob. 8AACh. 12 - Prob. 9AACh. 12 - Prob. 10AACh. 12 - Prob. 11AACh. 12 - Prob. 12AACh. 12 - Prob. 13AACh. 12 - Prob. 14AACh. 12 - Prob. 15AACh. 12 - Prob. 16AACh. 12 - Prob. 17AACh. 12 - Prob. 18AACh. 12 - Prob. 19AACh. 12 - Prob. 20AACh. 12 - Prob. 21AACh. 12 - Prob. 22AACh. 12 - Prob. 23AACh. 12 - Prob. 24AACh. 12 - Prob. 25AACh. 12 - Prob. 26AACh. 12 - Prob. 27AA
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