DOES FACT‐FINDING PROMOTE SETTLEMENT? THEORY AND A TEST

Nonbinding recommendations, such as provided by fact-finders, are shown to significantly increase voluntary settlements in bargaining. Theoretically, it is unclear whether recommendations will increase settlement rates. A recommendation may reduce outcome uncertainty, thereby "chilling" bargaining and increasing dispute rates. On the other hand, a recommendation may give the parties a focal point around which an agreement is made. Which of these effects dominates is a question that we consider using theory and data from controlled bargaining experiments. The data show the dominance of a focal point effect for suggestions, highlighting their potential role in improving dispute settlement procedures.(JEL C78 , C92 , J52 )     

Armed robbery and the meanings of money

In this study, we investigate the meanings active armed robbers give to money before, during, and after their crimes and how these meanings shape their offending. We do so by examining interviews undertaken from 1994 to 1995 with robbers in St. Louis, Missouri, USA. Prior to their robberies, the interviewees' desperation leads them to define money as essential to survival. Immediately following robberies and in looking back on them, they come to view this essential money in other ways as well—as too time-consuming to get, as “easy,” or as guilt-free. These meanings facilitate the contradictory way robbers see money as “fast” after offences. We discuss how these shifting meanings of money shape and are shaped by robbers' structural positions, cultural outlooks, and social relations. In doing so, we also help to explain how the shifting meanings of money play into criminogenic cycles of predatory offending.