Some thoughts from Ronald Miller at the Maryland Injury Lawyer Blog: "Can Lawyers Properly Value Personal Injury Cases?"--
An article titled "Predicting Civil Jury Verdicts: How Attorneys Use (and Misuse) a Second Opinion" written in the Journal of Empirical Legal Studies provides the answer as to how personal injury attorneys do as a class in estimating verdicts: not good.
The average error for lawyers in predicting the value accurate was 0.387. For a verdict of $100,000, this is equivalent to an estimate of $244,000 or $41,000. That's a big range. With those estimation skills, it is a wonder more cases don't go to trial.
As Miller notes, "[I]t is important to underscore how unbelievably important this skill set is for trial lawyers." Read the full post for ideas about improving your own "estimation skills."