{"id":27,"date":"2012-09-23T21:37:49","date_gmt":"2012-09-24T01:37:49","guid":{"rendered":"http:\/\/appropriatedisputesolutions.com\/site\/?p=27"},"modified":"2013-01-09T21:46:39","modified_gmt":"2013-01-10T02:46:39","slug":"judgment-valuing-your-case-for-mediation","status":"publish","type":"post","link":"https:\/\/appropriatedisputesolutions.com\/site\/judgment-valuing-your-case-for-mediation\/","title":{"rendered":"Judgment \u2013 Valuing your case for mediation"},"content":{"rendered":"

If there were a blue book value for cases, it is likely that parties could reach a zone of probable agreement in mediations. One of the impediments that can cause impasse in mediation is the very real differences in assessment that parties have made before they arrive. The question really is why do parties misjudge the value of cases \u2014 and we know they do. Randall Kiser has undertaken several important studies of lawyer judgment in his books Beyond Right and Wrong <\/em>(Springer Verlag 2010), and How Leading Lawyers Think<\/em> (Springer Verlag 2011), and \u201cLet\u2019s Not Make a Deal: An Emprical Study of Decision Making in Unsuccessful Settlement Negotiations\u201d with Martin A. Asher and Blakely McShane 5 Journal of Empirical Studies, Vol.3, 551-591 (2008).<\/p>\n

We know that 60 percent of plaintiffs\u2019 counsel and more than 24 percent of defense counsel turn down settlements only to find at trial that settlement was a better deal. On average over a very wide range of cases, plaintiffs received nearly $50,000 less at trial \u2014 not accounting for all the costs and fees it took to get there. And, although defendants made settlement errors in fewer cases, the costs were nearly 20 times greater when they did err. Obviously the cost of misjudgment is substantial. Why are these mistakes made. The answer is cognitive bias and in this case, I have coined the phrase \u201cClientthink.\u201d This is a variant of Irving Janis\u2019 Groupthink, the problem that creates a kind of tunnel vision in which only light can be seen and information that might be readily visible is blocked by positive thinking. This occurs because both lawyer and client start with a very specific perspective and digest incoming information with their blinders on. A mediator can help by providing a way to take a different view, to assess facts differently and to undertake a case premortem that may lead to a more realistic assessment of the value of the case.<\/p>\n

For a more detailed discussion, check out publications on this website.<\/p>\n","protected":false},"excerpt":{"rendered":"

If there were a blue book value for cases, it is likely that parties could reach a zone of probable agreement in mediations. One of the impediments that can cause impasse in mediation is the very real differences in assessment that parties have made before they arrive. The question really is why do parties misjudge … Continue reading “Judgment \u2013 Valuing your case for mediation”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","footnotes":""},"categories":[4],"tags":[10,12,13],"class_list":["post-27","post","type-post","status-publish","format-standard","hentry","category-mediation","tag-mediation-2","tag-risk-assessment","tag-valuation"],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p6qGtQ-r","jetpack-related-posts":[{"id":34,"url":"https:\/\/appropriatedisputesolutions.com\/site\/facebook-and-the-social-network-speak-on-mediation\/","url_meta":{"origin":27,"position":0},"title":"Facebook and The Social Network Speak on Mediation","author":"lakaster","date":"April 28, 2011","format":false,"excerpt":"\u201cSocial Network\u201d has come to life with lessons on how to prepare for mediation. The storyline for this blockbuster movie, in case you missed it is that on \u201ca fall night in 2003, Harvard undergrad and computer programming genius Mark Zuckerberg sits down at his computer and heatedly begins working\u2026","rel":"","context":"In \"Facebook and Social Network\"","block_context":{"text":"Facebook and Social Network","link":"https:\/\/appropriatedisputesolutions.com\/site\/tag\/facebook-and-social-network\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120,"url":"https:\/\/appropriatedisputesolutions.com\/site\/nj-presumptive-mediation-reprinted-by-permission-of-the-nj-law-journal\/","url_meta":{"origin":27,"position":1},"title":"NJ Presumptive Mediation – Reprinted by permission of the NJ Law Journal","author":"lakaster","date":"March 21, 2013","format":false,"excerpt":"Progress on the N.J. Mediation Front MAXIMIZING THE BENEFITS TO THE JUDICIARY, LITIGANTS AND ATTORNEYS By\u00a0Laura A. Kaster and N. 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The shortcuts or heuristics that our unconscious\u2026","rel":"","context":"In "Mediation"","block_context":{"text":"Mediation","link":"https:\/\/appropriatedisputesolutions.com\/site\/category\/mediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32,"url":"https:\/\/appropriatedisputesolutions.com\/site\/nj-mediation-confidentiality\/","url_meta":{"origin":27,"position":3},"title":"NJ Mediation Confidentiality","author":"lakaster","date":"August 11, 2011","format":false,"excerpt":"New Jersey has an important new case that mediators and advocates in mediation should be aware of: Willingboro Mall Ltd. v. 240\/242 Franklin Avenue Associates LLC , A-4589-09. The headlines in the news focus on the fact that it held an oral settlement reached in mediation may be enforceable if\u2026","rel":"","context":"In "Mediation"","block_context":{"text":"Mediation","link":"https:\/\/appropriatedisputesolutions.com\/site\/category\/mediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":133,"url":"https:\/\/appropriatedisputesolutions.com\/site\/getting-to-yes-at-downton-abbey\/","url_meta":{"origin":27,"position":4},"title":"Getting To Yes at Downton Abbey","author":"lakaster","date":"November 10, 2013","format":false,"excerpt":"Preparing for mediation is preparing for a negotiation with your mediation partner. \u00a0You can prepare not only by understanding what you need but by learning as much about your negotiating partners and what they might want or need and who has influence on them. \u00a0Check this out: http:\/\/www.adrtimes.com\/library\/getting-to-yes-with-the-dowager-countess-of-downton","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":136,"url":"https:\/\/appropriatedisputesolutions.com\/site\/improving-your-judgment\/","url_meta":{"origin":27,"position":5},"title":"Improving Your Judgment Like a Star Athlete Does","author":"lakaster","date":"March 3, 2014","format":false,"excerpt":"Andre Agassi has something to teach us about improving our judgment - we need to put ourselves in other peoples' gym shoes.","rel":"","context":"In "Mediation"","block_context":{"text":"Mediation","link":"https:\/\/appropriatedisputesolutions.com\/site\/category\/mediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/posts\/27"}],"collection":[{"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/comments?post=27"}],"version-history":[{"count":3,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/posts\/27\/revisions"}],"predecessor-version":[{"id":40,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/posts\/27\/revisions\/40"}],"wp:attachment":[{"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/media?parent=27"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/categories?post=27"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/appropriatedisputesolutions.com\/site\/wp-json\/wp\/v2\/tags?post=27"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}