According to Exhibit 4-2 of the Text,which of These Tips

question 52

Multiple Choice

According to Exhibit 4-2 of the text,which of these tips would not be helpful in creating a binding arbitration clause.

• A)The clause should spell out that the employer must pay the costs of arbitration.
• B)The clause should treat both parties fairly.
• C)The clause should specify how the arbitrator will be selected.
• D)The clause should be clear and unmistakable.
• E)The clause should require one of the parties to arbitrate,but the same requirement need not be required for the other party.

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Definitions:

Hedonic Treadmill

A theory suggesting that people continually seek new levels of stimulation or material goods to maintain happiness, but generally return to a stable level of happiness despite major positive or negative changes.

Prospect Theory

Prospect theory is a behavioral economic theory that describes how people choose between probabilistic alternatives that involve risk, where the probabilities of outcomes are known.

Neoclassical Economics

An economic theory that focuses on how consumer demand and production costs influence price, output, and income distribution in markets.

Behavioral Economics

A field of study that examines how psychological, cognitive, emotional, cultural, and social factors affect the economic decisions of individuals and institutions.