*Endorsed by the Family Law Section of the State Bar of Wisconsin
It’s more than just a game
Frayed emotions, little patience, loads of stress, disagreements and arguments, the future of a family on the line – divorce settlement negotiations aren’t fun and games. However, using principles from game play can actually make negotiations nimbler and settlements more satisfactory for all involved.
Game Theory and Its Application to Family Law is your guide to introducing elements of game theory into your practice for the benefit of your clients. Sitting at the intersection of mathematics and psychology, game theory helps you understand the human interactions and emotions which are an integral part of family law situations.
Know how to play the game
Game theory is the study of human conflict and cooperation within a competitive situation. It describes the strategic interactions among rational – and emotionally-charged, not-so-rational – players. In the “game” of family law, the players are divided into two teams – you and your client vs. opposing counsel and their client. The objective? Reaching a divorce settlement.
Game theory says parties involved in a settlement will attempt to make the choices necessary to increase their own payouts. Viewing the psychological framework through game theory can improve the chances of your opponent reacting positively to your settlement proposal. Game theory concepts discussed will include:
The prisoner’s dilemma: Understanding how the prisoner’s dilemma affects divorce settlement negotiations can help you reach a win-win situation where both sides obtain an optimum outcome.
Anchoring: Explore ways you can prevent anchoring from clouding your client’s perception of a settlement and even how it can help you predict if your opponent will accept your offer.
The ultimatum game: When two people decide how to divide a sum of money, the ultimatum game occurs. Discover under what circumstances it can be beneficial to use this game on behalf of your client.
Improve your ability to negotiate and reach divorce settlements in challenging situations with the insight you’ll receive at Game Theory and Its Application to Family Law.