If you’re a gambler, holding out for the jury award may not be so fruitful. A settlement offers better outcomes than going to trial says an empirical study reported on in the New York Times article brought to our attention by Richard J. Webb’s Healthcare ADR blog. The study, which is to be published in the September issue of the Journal of Empirical Legal Studies, is "the biggest of its kind to date.""The lesson for plaintiffs is, in the vast majority of cases, they are perceiving the defendant’s offer to be half a loaf when in fact it is an entire loaf or more," said Randall L. Kiser, pictured above. Kiser is a a co-author of the study and principal analyst at Decision Set, a consulting firm that advises clients on litigation decisions.
The study found that defendants were wrong less often in their decision to go to trial, but that their mistakes were much more costly.
The forthcoming study has spurred an active discussion on the NY Times' comment section.
1 comments:
Thanks for the mention. I thought this study was fascinating, and I hope your post spreads the word.
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