The study upon which this article is based was conducted in response to the explosive growth of the use of arbitration in the securities industry as a means of resolving broker/customer disputes. The study was designed to investigate whether the use that is being made of arbitration is efficient and, if inefficiencies were found, what procedures might be employed to screen out inefficient use.
This article was completed prior to the Supreme Court's recent resolution of the Dean Witter Reynolds, Inc. v. Byrd case. In light of that decision, it now appears likely that the concerns raised in the article will become even more significant.
David A. Lipton, Arbitration in the Securities Industry: Too Much of a Good Thing?, 1985 MO. J. OF DISP. RESOL. 153.