Cognitive Shortcuts: Assessing Case Value & Litigation Risk with Homer Simpson and Spock

September 11th, 2018|Categories: Complex Business Litigation, Environmental Torts, HB Tort Notes|Tags: , , , , , |

By Jeff Trueman, Esq. Mediator The central question on the minds of counsel, their clients, and insurance professionals in civil litigation is, of course, “What’s the case worth?” Although lead paint litigation may be going through some changes, it remains a mature tort where enough historical settlement and verdict data exist for counsel to argue why a particular case should or should not fit within a certain settlement range. In the midst of these discussions, the human brain plays tricks on us. For example, litigators sometimes assume that their trial experience can determine how jurors will negotiate with one another and resolve factual discrepancies after closing arguments. This assumption is a “heuristic” – a cognitive shortcut called attributional error or illusion of control. Underneath the games of litigation “chicken” that are the hallmark of settlement negotiation, heuristics lead to erroneous valuations and assessments of risk. Although more than one hundred heuristics exist, approximately 15-20 occur commonly in the context of settlement negotiations. It is easy for potential clients to employ a heuristic similar to the illusion of control by imagining a connection between something they desire, such as a favorable case outcome, and the past successes of their prospective lawyer. Representative and confirmation biases influence how we connect “model” to “outcome.” When differences over case value intensify, litigators return to threats [...]

Right to Try Act: Commentary Roundup

July 20th, 2018|Categories: Complex Business Litigation, Corporate Compliance, HB Tort Notes, Mass Torts|Tags: , , , , |

A Life Saver, Political Grandstand, or Harmful Scam? Depends on Who You Ask. And When. It's been two months since President Donald J. Trump signed into law the Right to Try Act which allows terminally ill patients access to experimental drugs not yet approved by the FDA. Like many things in America in 2018, opinions on the efficacy of this new law vary along party or ideological lines. Will it give hope and precious life-extending solutions for patients fighting terminal disease? Or is it a money-driven scheme intended to enrich corporations and the super rich? Signed into law on May 24, 2018, is it something that can be implemented effectively? Here are a few quotes that explain the controversy. Additional commentary or insights welcome. Send yours to Editor@LitigationConferences.com. "Timely access to promising treatments in ... devastating circumstances." "This new law amends the Federal Food, Drug, and Cosmetic Act to establish a new pathway aimed at increasing access to unapproved, investigational treatments for patients diagnosed with life-threatening diseases or conditions who have exhausted approved treatment options and who are unable to participate in a clinical trial. Our implementation of the Right to Try Act will build on our long-standing efforts to help patients and families who are facing life-threatening diseases or conditions, in a way that seeks to protect their autonomy, [...]

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