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Predictive Analytics
Mediation 3.0: Merging The Old and The New
February 5, 2019
This is a published transcription of the 2017 Singapore Mediation Lecture delivered in Singapore (at Singapore Management University) in 2017. The lecture provides a brief overview of a world history of mediation (1.0-Ancient Mediation through the early arguments for ADR; Mediation 2.0-distortions of mediation-lite, no joint meeting mediation and mandatory mediation, spread of mediation throughout legal cultures, use of hybrids and scaling up mediation to larger disputes and conflicts; to Mediation...
February 5, 2019
This is a published transcription of the 2017 Singapore Mediation Lecture delivered in Singapore (at Singapore Management University) in 2017. The lecture provides a brief overview of a world history of mediation (1.0-Ancient Mediation through the early arguments for ADR; Mediation 2.0-distortions of mediation-lite, no joint meeting mediation and mandatory mediation, spread of mediation throughout legal cultures, use of hybrids and scaling up mediation to larger disputes and conflicts; to Mediation...
The Loser’s Curse: Decision Making and Market Efficiency in the National Football League Draft
February 3, 2019
A question of increasing interest to researchers in a variety of fields is whether the biases found in judgment and decision-making research remain present in contexts in which experienced participants face strong economic incentives. To investigate this question, we analyze the decision making of National Football League teams during their annual player draft. This is a domain in which monetary stakes are exceedingly high and the opportunities for learning are rich. It is also a domain in which...
February 3, 2019
A question of increasing interest to researchers in a variety of fields is whether the biases found in judgment and decision-making research remain present in contexts in which experienced participants face strong economic incentives. To investigate this question, we analyze the decision making of National Football League teams during their annual player draft. This is a domain in which monetary stakes are exceedingly high and the opportunities for learning are rich. It is also a domain in which...
Behavioral Economics May Make Champs of the Cleveland Browns
February 3, 2019
All eyes are on the Los Angeles Rams and the New England Patriots, but the Cleveland Browns had an impressive season too. Although they didn’t make the playoffs, they did go 7-8-1 in 2018 after finishing 0-16 a year earlier. It’s one of the biggest single-season improvements in National Football League history, and the Browns owe it in large part to behavioral economics. The turnaround was orchestrated by a small team of analytics wonks in the front office, led by chief strategy officer Paul...
February 3, 2019
All eyes are on the Los Angeles Rams and the New England Patriots, but the Cleveland Browns had an impressive season too. Although they didn’t make the playoffs, they did go 7-8-1 in 2018 after finishing 0-16 a year earlier. It’s one of the biggest single-season improvements in National Football League history, and the Browns owe it in large part to behavioral economics. The turnaround was orchestrated by a small team of analytics wonks in the front office, led by chief strategy officer Paul...
The Better Way to Forecast the Future
February 1, 2019
Crowdsourcing works so well, in fact, says Harvard Business School visiting associate professor Yael Grushka-Cockayne, that executives should adopt a similar approach when it comes to using probability forecasts of business-critical issues; for example, the likelihood that product demand will increase by a given percentage next quarter. “The whole notion of using crowds is very popular in many different fields,” says Grushka-Cockayne, whose research is on data science, forecasting, project...
February 1, 2019
Crowdsourcing works so well, in fact, says Harvard Business School visiting associate professor Yael Grushka-Cockayne, that executives should adopt a similar approach when it comes to using probability forecasts of business-critical issues; for example, the likelihood that product demand will increase by a given percentage next quarter. “The whole notion of using crowds is very popular in many different fields,” says Grushka-Cockayne, whose research is on data science, forecasting, project...
Chen on Machine Learning & the Rule of Law
January 30, 2019
Daniel L. Chen (Directeur de Recherche, Centre National de la Recherche Scientifique, Toulouse School of Economics, Institute for Advanced Study in Toulouse, University of Toulouse Capitole, Toulouse, France) has posted Machine Learning and the Rule of Law (Computational Analysis of Law, Santa Fe Institute Press, ed. M. Livermore and D. Rockmore, Forthcoming) on SSRN. Here is the abstract: Predictive judicial analytics holds the promise of increasing the fairness of law. Much empirical work...
January 30, 2019
Daniel L. Chen (Directeur de Recherche, Centre National de la Recherche Scientifique, Toulouse School of Economics, Institute for Advanced Study in Toulouse, University of Toulouse Capitole, Toulouse, France) has posted Machine Learning and the Rule of Law (Computational Analysis of Law, Santa Fe Institute Press, ed. M. Livermore and D. Rockmore, Forthcoming) on SSRN. Here is the abstract: Predictive judicial analytics holds the promise of increasing the fairness of law. Much empirical work...
Westlaw Edge Gets New ‘Precedent Analytics’ Showing the Cases and Courts Judges Rely On
January 30, 2019
Now, Thomson Reuters is further enhancing its analytics offerings with the addition of Precedent Analytics, which it is rolling...
January 30, 2019
Now, Thomson Reuters is further enhancing its analytics offerings with the addition of Precedent Analytics, which it is rolling...
History tells us most VC backed legal tech companies will fail
January 29, 2019
The legal tech industry has seen a huge increase in venture capital investment. One billion dollars was invested last year and from the looks of it, we’re on pace to do it again. Venture capitalists are betting on growing valuation quickly, no matter the losses, and liquidating their investment by selling the company to another company or private equity firm. Very, very few will go public. That’s a good bet in some cases based on the inefficiencies in the delivery of legal...
January 29, 2019
The legal tech industry has seen a huge increase in venture capital investment. One billion dollars was invested last year and from the looks of it, we’re on pace to do it again. Venture capitalists are betting on growing valuation quickly, no matter the losses, and liquidating their investment by selling the company to another company or private equity firm. Very, very few will go public. That’s a good bet in some cases based on the inefficiencies in the delivery of legal...
Adopting Analytics in Legal Practice
January 29, 2019
Many aspects of legal practice are being transformed by the availability of better analytics and better tools for using...
January 29, 2019
Many aspects of legal practice are being transformed by the availability of better analytics and better tools for using...
Wordcloud of #Legalweek19 Agenda Reveals the Show’s Dominant Themes
January 28, 2019
Every year, the folks at the legal marketing and public relations firm InsideLegal analyze the agenda of the Legalweek/Legaltech conference and create a wordcloud revealing the show’s major and not-so-major themes. E-discovery is still a major theme this year, but it no longer dominates the show. Other major themes revealed by the wordcloud are innovation, data, risk, artificial intelligence, business, litigation and legal department.
January 28, 2019
Every year, the folks at the legal marketing and public relations firm InsideLegal analyze the agenda of the Legalweek/Legaltech conference and create a wordcloud revealing the show’s major and not-so-major themes. E-discovery is still a major theme this year, but it no longer dominates the show. Other major themes revealed by the wordcloud are innovation, data, risk, artificial intelligence, business, litigation and legal department.
Computer Model Identifies Risky Restaurants in Near Real Time
January 26, 2019
Foodborne illnesses are a persistent problem in the U.S. and current methods by restaurants and local health departments for determining an outbreak rely primarily on consumer complaints or routine inspections. The authors contend that these methods can be slow and cumbersome, often resulting in delayed responses and further spread of disease. To counter these shortcomings, Google researchers developed a machine-learned model and worked with Harvard to test it in Chicago and Las Vegas. The model...
January 26, 2019
Foodborne illnesses are a persistent problem in the U.S. and current methods by restaurants and local health departments for determining an outbreak rely primarily on consumer complaints or routine inspections. The authors contend that these methods can be slow and cumbersome, often resulting in delayed responses and further spread of disease. To counter these shortcomings, Google researchers developed a machine-learned model and worked with Harvard to test it in Chicago and Las Vegas. The model...
