Novo Justice Blog by Colin Rule
"Game theory, or the study of interactive decision-making, has been applied to fields as diverse as politics, economics and sports. It is also the subject of A Beautiful Mind, the film about mathematician John Nash, who helped develop the theory. Ring believes it is ripe for use in the legal profession. About four years ago his firm—Chu, Ring & Hazel—teamed up with academics to form Fair Outcomes Inc. The website offers game theory solutions for a range of legal disputes, including those involving property division, business buyouts and reputational damage.
The most notable nonattorney of the Fair Outcomes development team is New York University professor of politics Steven Brams, who has applied game theory to voting systems and the division of assets. Soon after Brams met Ring at a game theory conference at Stony Brook University in New York, they set plans to work together. NYU, which has jointly filed patents on several of the Fair Outcomes applications with Chu, Ring & Hazel, has a minority equity position in the enterprise. Partners at the law firm hold a controlling stake and Ring serves as the CEO.”
Pretty harsh comments, though…
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