Legislating in the Light: Considering Empirical Data in Crafting Arbitration Reforms

81 Pages Posted: 16 Jun 2010  

Amy Schmitz

University of Missouri School of Law

Date Written: June 16, 2010

Abstract

Consumer advocates and policymakers call for abolition of predispute arbitration clauses in consumer contracts, while proponents of arbitration claim such abolition would increase companies’ dispute resolution costs, leading to higher prices and interest rates. Policymakers on both sides of the debate, however, rarely consider the empirical research necessary for crafting informed arbitration disclosure rules. This article therefore focuses on how varied research, including my own empirical studies, may inform policies regarding arbitration disclosure regulations. The article also offers suggestions for regulations tailored to have the most impact for the cost in light of this research.

Keywords: arbitration, contracts, consumer rights, consumer law, dispute resolution

JEL Classification: K12, K41, K30, K10

Suggested Citation

Schmitz, Amy, Legislating in the Light: Considering Empirical Data in Crafting Arbitration Reforms (June 16, 2010). Harvard Negotiation Law Review, Vol. 15, No. 115, 2010; U of Colorado Law Legal Studies Research Paper No. 10-19. Available at SSRN: https://ssrn.com/abstract=1625928

Amy Schmitz (Contact Author)

University of Missouri School of Law ( email )

Missouri Avenue & Conley Avenue
Columbia, MO 65211
United States
573-882-5969 (Phone)

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