Толковый словарь английского языка Oxford English Reference - arbiter

n. (fem. arbitress) 1 a an arbitrator in a dispute. b a judge; an authority (arbiter of taste). 2 (often foll. by of) a person who has entire control of something. Phrases and idioms arbiter elegantiarum (or elegantiae) a judge of artistic taste and etiquette. Etymology: L ARBITRAGE n. the buying and selling of stocks or bills of exchange to take advantage of varying prices in different markets. Etymology: F f. arbitrer (as ARBITRATE)