Blog Archives
Bobadilla-Suarez, Sunstein, & Sharo on the Intrinsic Value of Choice
August 7, 2017
Sebastian Bobadilla-Suarez, Cass R. Sunstein, & Tali Sharot have posted The intrinsic value of choice: The propensity to under-delegate in the face of potential gains and losses (Journal of Risk and Uncertainty) on the Springer website. Here is the abstract: Human beings are often faced with a pervasive problem: whether to make their own decision or to delegate the decision task to someone else. Here, we test whether people are inclined to forgo monetary rewards in order to retain agency...
August 7, 2017
Sebastian Bobadilla-Suarez, Cass R. Sunstein, & Tali Sharot have posted The intrinsic value of choice: The propensity to under-delegate in the face of potential gains and losses (Journal of Risk and Uncertainty) on the Springer website. Here is the abstract: Human beings are often faced with a pervasive problem: whether to make their own decision or to delegate the decision task to someone else. Here, we test whether people are inclined to forgo monetary rewards in order to retain agency...
Second Circuit Rejects Bootstrapping Bid and Nixes Class Certification Award
August 7, 2017
Arbitration law’s “first principle” is “arbitration is a matter of consent, not coercion[,]” and class arbitration is no exception. (See, e.g., here.) In Jock v. Sterling Jewelers, Inc., No. 15-3947, slip op. (2d Cir. July 24, 2017) (summary order), the U.S. Court of Appeals for the Second Circuit enforced that principle by vacating and remanding the district court’s judgment, which confirmed in part a class arbitration class certification award that purported to bind non-parties,...
August 7, 2017
Arbitration law’s “first principle” is “arbitration is a matter of consent, not coercion[,]” and class arbitration is no exception. (See, e.g., here.) In Jock v. Sterling Jewelers, Inc., No. 15-3947, slip op. (2d Cir. July 24, 2017) (summary order), the U.S. Court of Appeals for the Second Circuit enforced that principle by vacating and remanding the district court’s judgment, which confirmed in part a class arbitration class certification award that purported to bind non-parties,...
ExxonMobil Must Comply With FSIA to Enforce $188 Million ICSID Award
August 7, 2017
The United States Court of Appeals for the Second Circuit has ruled that an ExxonMobil Oil Corporation subsidiary may not enforce a $188 million International Center for Settlement of Investment Disputes (“ICSID”) arbitral award against the Venezuelan government in the United States without first complying with the notice requirements provided for in the Foreign Sovereign Immunities Act (“FSIA”). In Mobil Cerro Negro, Ltd., et al. v. Bolivarian Republic of Venezuela, No. 15-707 (2d Cir.,...
August 7, 2017
The United States Court of Appeals for the Second Circuit has ruled that an ExxonMobil Oil Corporation subsidiary may not enforce a $188 million International Center for Settlement of Investment Disputes (“ICSID”) arbitral award against the Venezuelan government in the United States without first complying with the notice requirements provided for in the Foreign Sovereign Immunities Act (“FSIA”). In Mobil Cerro Negro, Ltd., et al. v. Bolivarian Republic of Venezuela, No. 15-707 (2d Cir.,...
Everything is Neutral. Things Are Only Bad if You Think They’re Bad.
August 6, 2017
Many of us worry too much. It’s a natural instinct to plan, but dwelling on all the possible bad outcomes isn’t going to help the situation. Lawyers are trained to manage risks for clients. They’re supposed to look ahead and make sure there are as many Plan B’s as possible for their clients so if things don’t go their way perhaps the situation can be salvaged through an alternate route. But we can’t let this be the default setting for our worldview. If you have a flight to catch there...
August 6, 2017
Many of us worry too much. It’s a natural instinct to plan, but dwelling on all the possible bad outcomes isn’t going to help the situation. Lawyers are trained to manage risks for clients. They’re supposed to look ahead and make sure there are as many Plan B’s as possible for their clients so if things don’t go their way perhaps the situation can be salvaged through an alternate route. But we can’t let this be the default setting for our worldview. If you have a flight to catch there...
Texas a Hot Spot for Speeding Tickets
August 6, 2017
If you’re planning to squeeze in one last road trip before the summer ends, there are a few hot spots in Texas where you might want to slow down. Especially if you’re planning on a trip to South Padre Island. The Fort Worth Star-Telegram reports two of the counties where Texas Department of Public Safety troopers write the most tickets are on the state’s southern tip, Hidalgo and Cameron. Harris County (Houston) also has a bunch. Across Texas, more than 1.6 million speeding...
August 6, 2017
If you’re planning to squeeze in one last road trip before the summer ends, there are a few hot spots in Texas where you might want to slow down. Especially if you’re planning on a trip to South Padre Island. The Fort Worth Star-Telegram reports two of the counties where Texas Department of Public Safety troopers write the most tickets are on the state’s southern tip, Hidalgo and Cameron. Harris County (Houston) also has a bunch. Across Texas, more than 1.6 million speeding...
Las Vegas Weddings Down
August 6, 2017
From Bloomberg: Roland August has officiated at thousands of weddings in Las Vegas, the self-proclaimed capital of “I do.” But these days August—who often presides dressed as Elvis Presley—has a rare vantage point from which to observe the nation’s long shift toward “I don’t.” Nevada’s marriage rate has plummeted in recent decades, an extreme version of a pullback happening across the U.S. The forces that have reshaped the nation’s economic life since the 1970s have helped...
August 6, 2017
From Bloomberg: Roland August has officiated at thousands of weddings in Las Vegas, the self-proclaimed capital of “I do.” But these days August—who often presides dressed as Elvis Presley—has a rare vantage point from which to observe the nation’s long shift toward “I don’t.” Nevada’s marriage rate has plummeted in recent decades, an extreme version of a pullback happening across the U.S. The forces that have reshaped the nation’s economic life since the 1970s have helped...
Google is Preparing for the End of Search
August 5, 2017
Google recently launched a personalized news feed on the company's flagship app, and it will soon rollout to browser versions of google.com. The update is a huge deal for a couple of reasons: First, it will be the most radical change to Google's famously simple home page since 1996, or at least since its big push behind Google+, which began in 2011 and has since been deemed a failure. It also positions Google to compete directly with the Facebook News Feed, which generally provides the same...
August 5, 2017
Google recently launched a personalized news feed on the company's flagship app, and it will soon rollout to browser versions of google.com. The update is a huge deal for a couple of reasons: First, it will be the most radical change to Google's famously simple home page since 1996, or at least since its big push behind Google+, which began in 2011 and has since been deemed a failure. It also positions Google to compete directly with the Facebook News Feed, which generally provides the same...
Artificial intelligence and Objective Analysis
August 5, 2017
The 2016 Competition and Markets Authority (CMA) report found that ‘the legal services sector is not working well for individual consumers and small businesses. These consumers generally lack the experience and information they need to find their way around the legal services sector and to engage confidently with providers’. Stating too that clients find it difficult to “make informed choices because there is very little transparency about price, service and quality”. The CMA encourages...
August 5, 2017
The 2016 Competition and Markets Authority (CMA) report found that ‘the legal services sector is not working well for individual consumers and small businesses. These consumers generally lack the experience and information they need to find their way around the legal services sector and to engage confidently with providers’. Stating too that clients find it difficult to “make informed choices because there is very little transparency about price, service and quality”. The CMA encourages...
Richard Susskind sees ‘Rosy Future’ for Law—if it Embraces Technology
August 5, 2017
For more than three decades, Richard Susskind has been one of the profession's most prolific voices in support of implementing technology with legal services delivery. He's the author of more than 10 books on the topic, and his next one will focus on technology in the courtroom. In the next 20 years, Susskind estimates, the legal profession will see more change than what’s taken place over the past two centuries. “The answer to the question of access to justice is not to make lawyers more...
August 5, 2017
For more than three decades, Richard Susskind has been one of the profession's most prolific voices in support of implementing technology with legal services delivery. He's the author of more than 10 books on the topic, and his next one will focus on technology in the courtroom. In the next 20 years, Susskind estimates, the legal profession will see more change than what’s taken place over the past two centuries. “The answer to the question of access to justice is not to make lawyers more...
How unemployment at graduation affects lawyer earnings over time
August 4, 2017
More factual analysis from McIntyre & Simkovic, forthcoming in Journal of Empirical Legal Studies: We investigate whether economic conditions at labor market entry predict long-term differences in law graduate earnings. We find that unemployment levels at graduation continue to predict law earnings premiums within 4 years after graduation for earners at the high end and middle of the distribution. However, the relation fades as law graduates gain experience and the difference in lifetime earnings...
August 4, 2017
More factual analysis from McIntyre & Simkovic, forthcoming in Journal of Empirical Legal Studies: We investigate whether economic conditions at labor market entry predict long-term differences in law graduate earnings. We find that unemployment levels at graduation continue to predict law earnings premiums within 4 years after graduation for earners at the high end and middle of the distribution. However, the relation fades as law graduates gain experience and the difference in lifetime earnings...
