Final answer:
The most used and least studied dispute resolution procedure in the public sector is mediation, which employs cooperative bargaining to aid parties in reaching a mutual agreement and maintaining a productive and stress-free environment.
Step-by-step explanation:
Mediation is often cited as the most used and least studied dispute resolution procedure in the public sector. In contrast to arbitration, which involves a third-party arbitrator making a binding decision, mediation entails a neutral facilitator helping the involved parties reach a mutually agreeable solution. This method values the aspect of cooperative bargaining to address disputes over resources and values fundamental to politics. An effective mediation process is characterized by accessibility, impartiality, and aims to ensure that all parties feel heard and supported, thus relieving stress and avoiding diminished morale or productivity that can result from unresolved conflicts.