Problem:
Have you heard of "baseball arbitration"? This style of arbitration is used in other fields beside major league baseball. In baseball style arbitration, each side separately proposes an offer to the arbitrator. The arbitrator then picks one of the offers and that's the decision (no middle ground). So, if one party offers $1 and the other offers 1,000,000, the arbitrator cannot split the difference, but must award either $1 or $1,000,000. This style arbitration has the effect of forcing both parties to submit an offer that is realistic. It also prevents the arbitrator from just "splitting the difference" which happens a lot in regular arbitration.
What are your thoughts? Is this a good model for business? What problems exist with this style?
Gives concise answer to this question at approximately 400 to 500 words.