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arbiter vs. arbitrator

[ahr-bi-ter] / ˈɑr bɪ tər /

noun

  1. a person empowered to decide matters at issue; judge; umpire.

  2. a person who has the sole or absolute power of judging or determining.

[ahr-bi-trey-ter] / ˈɑr bɪˌtreɪ tər /

noun

  1. a person chosen to decide a dispute or settle differences, especially one formally empowered to examine the facts and decide the issue.