Let's Not Make a Deal: An Empirical Study of …

Journal of Empirical Legal Studies Volume 5, Issue 3, 551 591, September 2008. Let's Not Make a Deal: An Empirical Study of decision making in unsuccessful settlement negotiations Randall L. Kiser, Martin A. Asher, and Blakeley B. McShane*. This Study quantitatively evaluates the incidence and magnitude of errors made by attorneys and their clients in unsuccessful settlement negotiations . The primary Study analyzes 2,054 contested litigation cases in which the plaintiffs and defendants conducted settlement negotiations , decided to reject the adverse party's settlement proposal, and proceeded to arbitration or trial. The parties' settlement positions are compared with the ultimate award or verdict, revealing a high incidence of decision - making error by both plaintiffs and defendants. This Study updates and enhances three prior studies of attorney/litigant decision making , increasing the number of cases in the primary data sets more than threefold, adding 72 explanatory vari- ables from 19 classes, applying a multivariate analysis, presenting an histori- cal review of error rates during the 1964 2004 period, and comparing the primary Study error rates with error rates in cases where the parties are represented by attorney-mediators.

Let’s Not Make a Deal: An Empirical Study of Decision Making in Unsuccessful Settlement Negotiations Randall L. Kiser, Martin A. Asher, and Blakeley B. McShane*

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  Making, Decision, Settlement, Negotiations, Unsuccessful, S not, Decision making in unsuccessful settlement negotiations

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