Legislating in the Light: Considering Empirical Data in Crafting Arbitration Reforms
81 Pages Posted: 16 Jun 2010
Date Written: June 16, 2010
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: Suggested Citation