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The Psychology of Numbers: Anchors and Adjustments
Credit(s):
1 TBLS-Civil Trial Law
1 TBLS-Family Law
1 TBLS-Personal Injury
One of the most important questions that a plaintiff’s lawyer has to answer is “What’s the biggest number we can ask for in damages?” Conversely, every defense lawyer has to confront the question of what is the lowest number they can suggest for damages. In addition, jurors struggle—from the voir dire process, all the way to the end of deliberations—as to how to place a value on intangible damages. Research in the area of social science suggests that the attorney who can provide the most meaningful number as an anchor to assist the jury in making their decisions will be the most successful in either maximizing the amount of money awarded or keeping damage awards to a minimum. This paper will explain the concept of anchoring and adjustment, review the relevant research, and provide examples of real-world applications.
1 TBLS-Civil Trial Law
1 TBLS-Family Law
1 TBLS-Personal Injury
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