Risk Analysis Is A Valid, Valuable Tool For Litigators

Law360, New York (March 3, 2014, 1:43 PM EST) -- In Judge Wayne D. Brazil’s recent Law360 guest column on the use of risk analysis to calculate a lawsuit’s settlement value, he wrote:

I did some research into the relationship between probability theory and the way “decision analysis” (sometimes called “risk analysis”) is sometimes used to try to determine the “discounted settlement value” of civil cases. What I learned was unnerving.[1]

He then goes on to share the products of his research and give several reasons why “‘decision analysis’ [is] not a reliable tool for assessing...
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