From The Collaborative International Dictionary of English v.0.48:

Arbitrator \Ar"bi*tra`tor\, n. [L., fr. arbitrari: cf. F.
   1. A person, or one of two or more persons, chosen by parties
      who have a controversy, to determine their differences.
      See Arbitration.
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   2. One who has the power of deciding or prescribing without
      control; a ruler; a governor.
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            Though Heaven be shut,
            And Heaven's high Arbitrators sit secure. --Milton.
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            Masters of their own terms and arbitrators of a
            peace.                                --Addison.
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   Syn: Judge; umpire; referee; arbiter. See Judge.
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