On The Location Of Arbitrators In Market Economy

This dissertation reveals the nature and status of arbitrators being private adjudicators providing legal services in market economy, by studying the living status and living environment of arbitrators at different historical times in different countries and regions, by studying the changes of the location and status of arbitrators and the relevant legal rules, employing the basic laws of modern economics and jurisprudence.Arbitrators in market economy have the quality of competition, exclusiveness and non-dividable ness. The service provided by arbitrators, individually speaking, does not have externalities, does belong to private goods rather than public goods or quasi-public goods, and should be supplied by private economic resources or the market rather than by public funds.Because of the general scarcity of economic resources, as a kind of economic activity, arbitrators'activities and arbitrators must be governed by laws of the market, and gradually become commercialized.Arbitration existed far before the existence of public powers. Arbitrators enjoy an objective private power. Arbitration is a process where the arbitrators exercise private power or right.Because of the failures of the market like the information asymmetry, the externalities of the order of market, and the imperfect competition, arbitrators cannot be governed by market alone. Rather, arbitrators must be governed by the government appropriately.A balance must be maintained in the location of arbitrators at various aspects.