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Predictive Analytics
Richard Thaler Wins Nobel for Work in Behavioral Economics
October 9, 2017
The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people's choices on economic matters — whether on savings or game shows like "Deal or No Deal" — are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to the academic for his "understanding the psychology of economics," Swedish Academy of Sciences secretary Goran Hansson said Monday. Thaler is considered one of the founding fathers...
October 9, 2017
The Nobel prize in economics has been awarded to Richard Thaler of the University of Chicago for research showing how people's choices on economic matters — whether on savings or game shows like "Deal or No Deal" — are not always rational. The 9-million-kronor ($1.1-million) prize was awarded to the academic for his "understanding the psychology of economics," Swedish Academy of Sciences secretary Goran Hansson said Monday. Thaler is considered one of the founding fathers...
New Judicial Analytics Platform Focuses on Los Angeles But Plans to Expand Nationally
October 6, 2017
Two years ago, I wrote a post titled, In Litigation and Legal Research, Judge Analytics is the New Black, in which I discussed three products — Lex Machina, Ravel Law and ALM Judicial Perspectives — that were extracting data from court dockets and applying analytics to reveal insights about judges, such as how they might rule on a specific type of motion or how long they might take to issue a decision. Since then, both Bloomberg Law and Docket Navigator have also launched judicial analytics...
October 6, 2017
Two years ago, I wrote a post titled, In Litigation and Legal Research, Judge Analytics is the New Black, in which I discussed three products — Lex Machina, Ravel Law and ALM Judicial Perspectives — that were extracting data from court dockets and applying analytics to reveal insights about judges, such as how they might rule on a specific type of motion or how long they might take to issue a decision. Since then, both Bloomberg Law and Docket Navigator have also launched judicial analytics...
East Texas is Patent Capital No More
October 5, 2017
The Eastern District of Texas has lost its status as America's top place to sue businesses for patent infringement. Delaware...
October 5, 2017
The Eastern District of Texas has lost its status as America's top place to sue businesses for patent infringement. Delaware...
AI and Predicting Settlement
October 3, 2017
The National Law Journal reported yesterday on SettlementAnalytics and their predictive algorithms. “The world’s first quantitative legal measurement to indicate the likelihood of a lawsuit proceeding all the way to trial and adjudication” according to the company. I am profoundly skeptical. But if it’s essentially an app that takes a few data points and predicts the likelihood of a case going all the way to trial (an eventuality that is not terribly common in any context,...
October 3, 2017
The National Law Journal reported yesterday on SettlementAnalytics and their predictive algorithms. “The world’s first quantitative legal measurement to indicate the likelihood of a lawsuit proceeding all the way to trial and adjudication” according to the company. I am profoundly skeptical. But if it’s essentially an app that takes a few data points and predicts the likelihood of a case going all the way to trial (an eventuality that is not terribly common in any context,...
Will Your Case Go to Trial? This Computer Program Might Know the Answer
October 3, 2017
It’s stylish to bemoan how few cases go to trial these days—and for first chair litigators (and the reporters who write about them) it’s a bit anticlimactic when litigation gets resolved behind closed doors. But to SettlementAnalytics, trials are basically a failure. Going to court means the “economic forces that ordinarily encourage a negotiated solution” broke down. So how is the “Litigation Settlement Failure Index” supposed to work? There is “an economic signature...
October 3, 2017
It’s stylish to bemoan how few cases go to trial these days—and for first chair litigators (and the reporters who write about them) it’s a bit anticlimactic when litigation gets resolved behind closed doors. But to SettlementAnalytics, trials are basically a failure. Going to court means the “economic forces that ordinarily encourage a negotiated solution” broke down. So how is the “Litigation Settlement Failure Index” supposed to work? There is “an economic signature...
Kiser’s Soft Skills for the Effective Lawyer
October 1, 2017
I was really pleased to meet Randall Kiser at last year’s ABA conference. I was very impressed by his important study (co-authored with Martin Asher and Blakeley McShane), Let’s Not Make a Deal: An Empirical Examination of Decision Making in Unsuccessful Negotiations. The top-line finding was that in 85.5% of cases, parties went to trial when one of the parties would have been better off to accept the other side’s last offer. Plaintiffs received an award less than or equal to the defendant’s...
October 1, 2017
I was really pleased to meet Randall Kiser at last year’s ABA conference. I was very impressed by his important study (co-authored with Martin Asher and Blakeley McShane), Let’s Not Make a Deal: An Empirical Examination of Decision Making in Unsuccessful Negotiations. The top-line finding was that in 85.5% of cases, parties went to trial when one of the parties would have been better off to accept the other side’s last offer. Plaintiffs received an award less than or equal to the defendant’s...
More Details on the Partnership Between Evolve Law and Above the Law
October 1, 2017
Two years ago this week, I reported on the launch of Evolve Law, a for-profit membership organization aimed at driving technology innovation and adoption in the legal industry. Cofounders Jules Miller and Mary Juetten told me at the time that they hoped to attract innovative, early-stage companies as members and encourage collaboration among them to help drive adoption of new technologies. “For members, this is a big step up – a giant leap really – in terms of visibility,” Juetten...
October 1, 2017
Two years ago this week, I reported on the launch of Evolve Law, a for-profit membership organization aimed at driving technology innovation and adoption in the legal industry. Cofounders Jules Miller and Mary Juetten told me at the time that they hoped to attract innovative, early-stage companies as members and encourage collaboration among them to help drive adoption of new technologies. “For members, this is a big step up – a giant leap really – in terms of visibility,” Juetten...
Stanford Law + Design Summit
September 30, 2017
Design thinking and its application in the legal profession is trending. The Stanford event was one of THREE (unrelated)...
September 30, 2017
Design thinking and its application in the legal profession is trending. The Stanford event was one of THREE (unrelated)...
Bloomberg Law Launches AI Research Tool to Find Key Points of Law
September 30, 2017
Bloomberg Law today rolled out to its subscribers new tool, Points of Law, that uses artificial intelligence and machine learning to help legal researchers quickly find language critical to a court’s reasoning and to support their legal arguments. As a researcher scrolls through a court opinion, Points of Law highlights the essential language in the opinion, making it easier for the researcher to browse through the key discussion points and enabling the researcher to more quickly get the gist...
September 30, 2017
Bloomberg Law today rolled out to its subscribers new tool, Points of Law, that uses artificial intelligence and machine learning to help legal researchers quickly find language critical to a court’s reasoning and to support their legal arguments. As a researcher scrolls through a court opinion, Points of Law highlights the essential language in the opinion, making it easier for the researcher to browse through the key discussion points and enabling the researcher to more quickly get the gist...
The Psychology and Neurobiology of Mediation
September 26, 2017
This article discusses the neurobiology of what is perhaps the most common problem in mediation: people take the conflict...
September 26, 2017
This article discusses the neurobiology of what is perhaps the most common problem in mediation: people take the conflict...
