Private arbitration beats courts on speed, cost, and secrecy.

Evidence

In the diamond industry, arbitration has important substantive and procedural advantages over adjudication. It enables parties to resolve disputes and enforce judgments quickly, inexpensively, and secretly, thereby containing damage to reputation and reducing the actual damage suffered by the promisee in event of breach. — Lisa Bernestein, Opting out of the Legal System, 231

Categorization

• XREF: The ‘secretly’ advantage is the exact mechanism the reader’s Coleman analysis hinges on — secrecy prolongs non-cooperation because reputation damage stays contained. — connects to: Diamond industry’s private law succeeds by enforcing judgments faster than courts. — Lisa Bernestein, Opting out of the Legal System, 17; Arbitration secrecy hides disputes from public view once judgments are paid — Lisa Bernestein, Opting out of the Legal System, 71; Private arbitration can effectively substitute for courts — Lisa Bernestein, Opting out of the Legal System, 40 (+6 more)

Broader Connections

• Private dispute resolution excels through speed, low cost, and secrecy. #corroborates (0.95)
• Private arbitration can effectively substitute for courts #corroborates (0.90) — Lisa Bernestein, Opting out of the Legal System, 40
• Arbitration’s secrecy lets wrongdoers minimize reputation costs while right-holders gain speed and cheapness. #qualifies (0.85) — Lisa Bernestein, Opting out of the Legal System, 81
• Private arbitration systems resolve disputes without public accountability. #expands (0.80)
• Secrecy is the key reason dealers prefer arbitration over courts. #exemplifies (0.75)