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Economics
Picture It Settled® at Section of Litigation Annual CLE Conference
April 22, 2013
Picture It Settled® will be on display at the ABA Section of Litigation CLE Conference in Chicago this week. For more information...
April 22, 2013
Picture It Settled® will be on display at the ABA Section of Litigation CLE Conference in Chicago this week. For more information...
New Advanced Decision Analysis Course Description
April 16, 2013
Lawyers create value for their clients by effectively representing them in negotiations. Transactional lawyers bring multivariable deals together when expectations are high for the relationship. Litigators negotiate disputes in the shadow of potential trial outcomes in all but about 2% of cases. Sound decision making in these circumstances is the essence of effective lawyering. Since effective decision making is not strongly correlated with higher education or high I.Q., it must be learned and practiced....
April 16, 2013
Lawyers create value for their clients by effectively representing them in negotiations. Transactional lawyers bring multivariable deals together when expectations are high for the relationship. Litigators negotiate disputes in the shadow of potential trial outcomes in all but about 2% of cases. Sound decision making in these circumstances is the essence of effective lawyering. Since effective decision making is not strongly correlated with higher education or high I.Q., it must be learned and practiced....
Preventing Bad Settlement Decisions and Impasse: Using Brain Science, Game Theory
April 8, 2013
The fact patterns of this course will be familiar to the experienced mediator and trial advocate in negotiation: difficult people, heightened emotions, overly confident case assessments, deeply held beliefs, and barriers to rational deals. We will explore the neuropsychology behind these defining characteristics and the mediator micro-interventions that can turn them from impasse ingredients to the seeds of a successful deal. We will explore modern brain science—not only as a way to explain...
April 8, 2013
The fact patterns of this course will be familiar to the experienced mediator and trial advocate in negotiation: difficult people, heightened emotions, overly confident case assessments, deeply held beliefs, and barriers to rational deals. We will explore the neuropsychology behind these defining characteristics and the mediator micro-interventions that can turn them from impasse ingredients to the seeds of a successful deal. We will explore modern brain science—not only as a way to explain...
Top New York-Based Firms See Mostly Modest Growth
March 29, 2013
With demand for corporate work slack through most of the year and clients continuing to apply rate pressure, 12 elite Am Law 100 firms...
March 29, 2013
With demand for corporate work slack through most of the year and clients continuing to apply rate pressure, 12 elite Am Law 100 firms...
Early Case Assessment: Better Results from Better Information
March 29, 2013
No client likes spending money on litigation, and companies are no exception – but when litigation costs appear out of control and unpredictable, the problem gets even worse. Cost containment and predictability in litigation are the name of the game. But clients and their lawyers often differ on how to approach disputes, which tools are the most effective, and how involved in-house counsel should be in litigation. This 3-part series will explore two specific litigation management tools, Early...
March 29, 2013
No client likes spending money on litigation, and companies are no exception – but when litigation costs appear out of control and unpredictable, the problem gets even worse. Cost containment and predictability in litigation are the name of the game. But clients and their lawyers often differ on how to approach disputes, which tools are the most effective, and how involved in-house counsel should be in litigation. This 3-part series will explore two specific litigation management tools, Early...
So, How Much is My Case Worth?
March 25, 2013
You knew it was coming. You are sitting in a client meeting, explaining the procedure and the underlying issues of the case,...
March 25, 2013
You knew it was coming. You are sitting in a client meeting, explaining the procedure and the underlying issues of the case,...
Nudges.gov: Behavioral Economics and Regulation
March 19, 2013
Behavioral economics is influencing regulatory initiatives in many nations, including the United States and the United Kingdom. The role of behavioral economics is likely to increase in the next generation, especially in light of the growing interest in low-cost, choice-preserving regulatory tools. Choice architecture -- including default rules, simplification, norms, and disclosure -- can affect outcomes even if material incentives are not involved. For example, default rules can have an even larger...
March 19, 2013
Behavioral economics is influencing regulatory initiatives in many nations, including the United States and the United Kingdom. The role of behavioral economics is likely to increase in the next generation, especially in light of the growing interest in low-cost, choice-preserving regulatory tools. Choice architecture -- including default rules, simplification, norms, and disclosure -- can affect outcomes even if material incentives are not involved. For example, default rules can have an even larger...
Arbitration and Access to Justice: Economic Analysis
March 14, 2013
Mandatory arbitration clauses in consumer contracts are widely regarded as problematic because they limit consumer’s access to judicial forums, to fair procedures, and potentially to any kind of remedy. But rather than looking at consumers as a group, I examine which sub groups of consumers are affected by this limitation more than others. I argue that in most circumstances, access to courts benefits the elite, not the weak. It is a species of open-access policy that has an unintended regressive...
March 14, 2013
Mandatory arbitration clauses in consumer contracts are widely regarded as problematic because they limit consumer’s access to judicial forums, to fair procedures, and potentially to any kind of remedy. But rather than looking at consumers as a group, I examine which sub groups of consumers are affected by this limitation more than others. I argue that in most circumstances, access to courts benefits the elite, not the weak. It is a species of open-access policy that has an unintended regressive...
The Future of Law as Seen From Silicon Valley
March 12, 2013
What does the future of law practice look like? It will be user-friendly and accessible via bright and fresh retail shops...
March 12, 2013
What does the future of law practice look like? It will be user-friendly and accessible via bright and fresh retail shops...
The Real Economic Impact of Product Liability Tort Reform
March 7, 2013
Via Overlawyered and TortsProf, I saw that a new law review article came out last week in the Vanderbilt Law Review, “Products Liability and Economic Activity: An Empirical Analysis of Tort Reform’s Impact on Businesses, Employment, and Production” by Joanna Shepherd. As a products-liability lawyer (and an armchair economist), I was excited, so I printed out a copy, sat down with my highlighter, and, unfortunately, didn’t even make it past the third page without gnashing my teeth in frustration: Specifically,...
March 7, 2013
Via Overlawyered and TortsProf, I saw that a new law review article came out last week in the Vanderbilt Law Review, “Products Liability and Economic Activity: An Empirical Analysis of Tort Reform’s Impact on Businesses, Employment, and Production” by Joanna Shepherd. As a products-liability lawyer (and an armchair economist), I was excited, so I printed out a copy, sat down with my highlighter, and, unfortunately, didn’t even make it past the third page without gnashing my teeth in frustration: Specifically,...
