Originally Posted by donrhummy
It's like picking a jury. You get to OK some and the prosecutor gets to ok some.
Actually, its not like picking a jury. You don't get to "pick" a jury; you get to deselect some jurors. Each side gets a set number of premptory strikes. (i.e. strikes other than for cause) After each side uses its strikes, the remaining jury panel members make up the jury that hears the case.
Typical arbitration, each side picks one arbitrator, and the 2 arbitrators selected by the parties select the third arbitrator.