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Woodford on Individual Welfare & Behavioral Economics
October 21, 2018
Michael Woodford (Columbia University, Graduate School of Arts and Sciences, Department of Economics; National Bureau of Economic Research (NBER)) has posted Individualistic Welfare Analysis in the Age of Behavioral Science (Capitalism and Society: Vol. 13: Iss. 1, Article 3) on SSRN. Here is the abstract: Experimental demonstration of systematic errors and biases in human choice behavior might seem to undermine the conceptual basis of the individualistic approach to welfare analysis, in which...
October 21, 2018
Michael Woodford (Columbia University, Graduate School of Arts and Sciences, Department of Economics; National Bureau of Economic Research (NBER)) has posted Individualistic Welfare Analysis in the Age of Behavioral Science (Capitalism and Society: Vol. 13: Iss. 1, Article 3) on SSRN. Here is the abstract: Experimental demonstration of systematic errors and biases in human choice behavior might seem to undermine the conceptual basis of the individualistic approach to welfare analysis, in which...
Aggressive Economic Incentives and Physical Activity: The Role of Choice and Technology Decision Aids
October 21, 2018
Aggressive incentive schemes that allow individuals to impose economic punishment on themselves if they fail to meet health goals present a promising approach for encouraging healthier behavior. However, the element of choice inherent in these schemes introduces concerns that only non-representative sectors of the population will select aggressive incentives, leaving value on the table for those who don’t opt-in. In a field experiment conducted over a 29-week period on individuals wearing Fitbit...
October 21, 2018
Aggressive incentive schemes that allow individuals to impose economic punishment on themselves if they fail to meet health goals present a promising approach for encouraging healthier behavior. However, the element of choice inherent in these schemes introduces concerns that only non-representative sectors of the population will select aggressive incentives, leaving value on the table for those who don’t opt-in. In a field experiment conducted over a 29-week period on individuals wearing Fitbit...
Law Schools Increasingly Scrutinize Applicants’ Social Media Posts In Admissions Decisions
October 20, 2018
Law.com, Law Schools Scrutinizing Applicants' Social Media Posts: If you want to get into law school, better not post...
October 20, 2018
Law.com, Law Schools Scrutinizing Applicants' Social Media Posts: If you want to get into law school, better not post...
What Blackjack Teaches on Analytics
October 20, 2018
Blackjack happens to be the perfect Petri dish to remind ourselves about making better decisions. Data is easy to get, and systems never change. At this year’s conference, Jeffrey Ma, former VP of analytics and data science at Twitter and kingpin of the famous MIT blackjack team, shared his thoughts on the future of some of the new capabilities in analytics, arguing that “the biggest misconception is that AI is like magic and solves everything. In reality, it’s only going to be as good as the problems...
October 20, 2018
Blackjack happens to be the perfect Petri dish to remind ourselves about making better decisions. Data is easy to get, and systems never change. At this year’s conference, Jeffrey Ma, former VP of analytics and data science at Twitter and kingpin of the famous MIT blackjack team, shared his thoughts on the future of some of the new capabilities in analytics, arguing that “the biggest misconception is that AI is like magic and solves everything. In reality, it’s only going to be as good as the problems...
Baseball’s Billy Beane Shows Companies the Power of Data
October 19, 2018
Oakland Athletics General Manager Billy Beane brought a data-driven and unconventional approach to winning baseball games. By setting strategy and articulating the metric to evaluate and acquire the players who would ultimately implement his strategy on the field, Beane’s sabermetrics approach brought about a cultural shift in baseball from the players and managers to coaches and scouts. Professor Srikant Datar discusses how strategy and metrics work hand-in-hand, and how Beane’s story provides...
October 19, 2018
Oakland Athletics General Manager Billy Beane brought a data-driven and unconventional approach to winning baseball games. By setting strategy and articulating the metric to evaluate and acquire the players who would ultimately implement his strategy on the field, Beane’s sabermetrics approach brought about a cultural shift in baseball from the players and managers to coaches and scouts. Professor Srikant Datar discusses how strategy and metrics work hand-in-hand, and how Beane’s story provides...
Towards a Better Understanding of Lawyers’ Judgmental Biases in Client Representation: The Role of Need for Cognitive Closure
October 18, 2018
Previous research demonstrates that lawyers and law students are, on average, prone to overconfidence bias and self-serving judgments of fairness when they take on a representative lawyering role. This is the first study to investigate individual differences in susceptibility to these biases. Expanding on two previous experiments (Loewenstein, et al., 1993; Babcock, Loewenstein & Issacharoff, 1998), and utilizing as our sample 468 law students from twelve geographically diverse U.S. law schools,...
October 18, 2018
Previous research demonstrates that lawyers and law students are, on average, prone to overconfidence bias and self-serving judgments of fairness when they take on a representative lawyering role. This is the first study to investigate individual differences in susceptibility to these biases. Expanding on two previous experiments (Loewenstein, et al., 1993; Babcock, Loewenstein & Issacharoff, 1998), and utilizing as our sample 468 law students from twelve geographically diverse U.S. law schools,...
Lex Machina’s First Annual Insurance Litigation Report Reveals Distinct Case Filing Trends
October 17, 2018
Automobile Claims Up 39% From 2009-2017 While Uninsured/Underinsured Motorist Claims Double; Life Insurance Claims Fell 20%; Homeowner Claims Rose 80%, Hidden By Hurricane-Related Claims The Insurance Litigation report showcases data and trends involving disputes between an insurer and a policyholder, a beneficiary, or another insurer asserting the rights of a policyholder. The report includes analytics from both the broad Insurance data set as well as five common insurance types: Automobile,...
October 17, 2018
Automobile Claims Up 39% From 2009-2017 While Uninsured/Underinsured Motorist Claims Double; Life Insurance Claims Fell 20%; Homeowner Claims Rose 80%, Hidden By Hurricane-Related Claims The Insurance Litigation report showcases data and trends involving disputes between an insurer and a policyholder, a beneficiary, or another insurer asserting the rights of a policyholder. The report includes analytics from both the broad Insurance data set as well as five common insurance types: Automobile,...
CourtStatPack.com Graphs Trends in Texas Trial Court Statistics
October 16, 2018
Civil and Family Filings Level While Jury Trials Trend Downward SAN ANTONIO, Oct. 16, 2018 /PRNewswire/ -- Civil and family court filings in Texas have remained relatively stable during the time the Texas Office of Court Administration (OCA) has compiled data from district and county clerks in its current form (September 2010 to present). CourtStatPack.com presents OCA data in easily customizable graphs to visualize trends across the reporting period. It not only presents...
October 16, 2018
Civil and Family Filings Level While Jury Trials Trend Downward SAN ANTONIO, Oct. 16, 2018 /PRNewswire/ -- Civil and family court filings in Texas have remained relatively stable during the time the Texas Office of Court Administration (OCA) has compiled data from district and county clerks in its current form (September 2010 to present). CourtStatPack.com presents OCA data in easily customizable graphs to visualize trends across the reporting period. It not only presents...
How Data is Helping Us Unravel the Mysteries of the Brain
October 14, 2018
Geneticist Steve McCarroll wants to make an atlas of all the cells in the human body so that we can understand in precise...
October 14, 2018
Geneticist Steve McCarroll wants to make an atlas of all the cells in the human body so that we can understand in precise...
Hasday on New Forms of Arbitration
October 9, 2018
Michael Hasday (Anderson & Ochs, LLP) has posted Running it Twice (or Thrice): Double-Header, Triple-Header, and Reverse Baseball Arbitration (52 U. Mich. J. L. Reform Caveat 1 (2018)) on SSRN. Here is the abstract: This Essay illustrates how the “Running It Twice” concept that makes poker games less of a gamble can also be used in another forum where large amounts of money can be at stake: arbitrations. I introduce three new forms of arbitration based on this concept: Double-Header...
October 9, 2018
Michael Hasday (Anderson & Ochs, LLP) has posted Running it Twice (or Thrice): Double-Header, Triple-Header, and Reverse Baseball Arbitration (52 U. Mich. J. L. Reform Caveat 1 (2018)) on SSRN. Here is the abstract: This Essay illustrates how the “Running It Twice” concept that makes poker games less of a gamble can also be used in another forum where large amounts of money can be at stake: arbitrations. I introduce three new forms of arbitration based on this concept: Double-Header...
