In an article by Jim Eisele on mediate.com, Eisele deducts that "one thing is clear: student/peer mediations have several benefits, many of which are long-lasting".  Eisele goes on to describe four articles that describe positive benefits of mediation in schools.  Some of the benefits include: providing students with tools for dealing with conflict, allowing teachers to spend more time teaching, and having a potential therapeutic effect upon the participants.  See the link below to read Eisele's take on the positive benefits of mediation and the sources that he references!

http://www.mediate.com/articles/eiseleJ2.cfm