Guest Ben Gideon on Helping Trial Lawyers Assess Risk Better [Ep 138]
Guest Ben Gideon explores the complex world of risk assessment in trial law. Despite their bold reputations, trial lawyers often lean towards risk-averse strategies, favoring settlements over trials. Ben reflects on his recent trial loss to analyze cognitive biases in decision-making and emphasizes the importance of embracing risk to secure significant verdicts.
Drawing parallels between trial law and high-stakes poker, Ben discusses how both fields rely on probabilistic thinking and expected value calculations. He shares strategies for managing risk across multiple cases, similar to a poker player handling various hands, and highlights the differing risk levels faced by lawyers and their clients.
In this episode, you will hear:
- Insights from Ben Gideon on risk assessment in trial law
- Exploration of trial lawyers’ risk-averse tendencies and the impact of cognitive biases
- Importance of data-driven approaches and probabilistic thinking in legal decision-making
- Balancing client emotions and cognitive biases during negotiations and mediations
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Supporting Resources:
Guest Ben Gideon of Gideon Asen
Email: bgideon@gideonasenlaw.com
Website: https://www.gideonasen.com/our-team/benjamin-gideon/
Podcast: https://www.elawvate.fm/
Books referenced in the episode:
On Edge: The Are of Risking Everything by Nate Silver
Thinking, Fast and Slow by Daniel Kahneman
