Arrow functions, an addition to JavaScript with the ES6 specification, offer a streamlined syntax and are commonly used for anonymous functions, such as callbacks in array methods like map, filter, and reduce. Unlike traditional JavaScript functions, arrow functions do not allow duplicate named parameters, lack an arguments binding, and cannot be used as constructors since they do not have a prototype or the [[Construct]] method. The value of this in an arrow function is lexically bound, meaning it retains the this value of its closest non-arrow parent function, which provides consistency but may limit flexibility in certain contexts like event handlers or methods that require dynamic this binding. To address limitations such as the lack of an arguments object, developers can use ES6 rest parameters for capturing function arguments, and in scenarios like event listeners or intervals where this binding is crucial, they can leverage arrow functions for consistent binding or bind the desired context explicitly. Despite these differences, arrow functions are highly regarded for their concise syntax and predictable behavior, making them a favored choice among developers except in specific cases where traditional function behavior is required.