Lost Opportunities: Why Cases Settle At The Wrong Time

Law360, New York (August 26, 2013, 10:40 AM EDT) -- The vast majority of civil cases in the United States settle. Experience suggests, however, that parties generally settle cases at a less than optimal time, and often at the least optimal time. More often than we would like to admit, our human brains are wired to cause us to make bad decisions regarding settlement, just as most investors buy stock when the price is too high and sell when the price hits bottom. By recognizing our human limitations and tendencies, parties can make better decisions regarding settlement.

Each civil case, like the tide, has ebbs and flows. There are times in...

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