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3 Cards in this Set

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A private, neutral person chosen to arbitrate a disagreement, as opposed to a court of law. An arbitrator could be used to settle any non-criminal dispute, and many business contracts make provisions for an arbitrator in the event of a disagreement. Generally, resolving a disagreement through an arbitrator is substantially less expensive than resolving it through a court of law.
arbitrator
A neurtral third party who facilitates a negotiate solution by using reasoning, persuation, and suggestions for alternatives
An arbitrator
making consistent, value-maximizing choices within specified constraints
Rational