In a recent mock trial, the concept of the “Implied Precision Effect” on damages was put to test. As is often the case in jury trials, an initial figure for damages was suggested, rather arbitrarily, by a juror who set the amount at a “nice, round” five million dollars. In the world of law and economics, this is known as the “Implied Precision Effect.”
The Implied Precision Effect is based on the psychological notion that jurors tend to favor simplistic, memorable figures when considering damages – often a round number. While it might seem random, it plays a crucial role in shaping the jury’s decision-making process. It becomes an anchor that can influence the final outcome of a case.
This effect, as such, highlights the importance of careful, strategic communication during the damages phase of a suit. Attorneys should be mindful to present their damage calculations with as much precision and detail as possible to capitalize on this effect.
It should be noted that the very act of exactness implies vigilance and therefore, could sway the jury’s inclination in favor of the suggested damages. Vague or ambiguous figures might not carry the same weight, subjecting the request for damages to potential doubt or skepticism.
This psychological tendency of jurors is not a guarantee but provides a pivotal consideration in strategizing for trial. As the seasoned professionals at Holland & Hart suggest, manipulating damages is a nuanced craft and leveraging the Implied Precision Effect could be an integral part of your trial message.