Since the Pharaohs’ day, marketers have studied human behavior and acted on that intelligence to increase sales. Playing French music in a British wine store increases the sale of French wine. Change to German music, and watch German wine sales increase. Introduce a more expensive bread maker and sales of the lower priced version double as the more expensive price point makes it look like a bargain at the same old price.
But are the hidden patterns of negotiation predictable? We’ve developed behavioral software that has learned negotiating patterns from parties to thousands of litigated cases covering most jurisdictions and claim types. Picture It Settled® is Moneyball for negotiation.
Picture It Settled® predicted the outcome of an IP dispute within 3.5% after just two rounds – and those predictions improved with additional offer data (17 total rounds). In another published case study of a business dispute, the software predicted the individual dollar moves within 3.5% and the ultimate outcome within 3% after just three rounds.
That’s news the negotiator can use. If you know where your opponent is headed, you can tweak your own game plan. By constantly inputting offer data and updating realistic targets in the game-like interface, users are able to increase their settlement rates by using a data-informed negotiation strategy. Picture It Settled® doesn’t replace the well-honed intuition of the parties, it adds a scope to their gun.
Don Philbin, J.D., M.B.A., LL.M., is an AV-rated attorney-mediator, adjunct professor of law, curator of www.ADRtoolbox.com, and president of Picture It Settled®. Picture It Settled® is Moneyball for negotiation. The behavioral software has learned negotiating patterns from parties to thousands of litigated cases in a wide variety of jurisdictions and claim types.
Don was named the 2014 “Lawyer of the Year” for Mediation in San Antonio by Best Lawyers®, was recognized as the 2011 Outstanding Lawyer in Mediation by the San Antonio Business Jo..., is one of seven Texas mediators listed in The International Who’s Who of Commercial Mediation, and is repeatedly listed in: The Best Lawyers in America, Texas Super Lawyers, The Best Lawyers in San Antonio, and the U.S. News and Best Lawyers “Best Law Firm” survey. He is an elected fellow of the International Academy of Mediators, the American Academy of Civil Trial Mediators, and the Texas Academy of Distinguished Neutrals.
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The archive for his session is now available for viewing. Enjoy!