Arbitration as an alternative to the vagaries of litigating through the judicial system has worked well in practice, as well as in theory, for many kinds of disputes - in labor-management, commercial, and maritime.
Gregory, William A. and Schneider, William J.
"Securities Arbitration: A Need for Continued Reform,"
Nova Law Review: Vol. 17
, Article 12.
Available at: http://nsuworks.nova.edu/nlr/vol17/iss4/12