SSRN via TortsProf: the team of Bernard Black (Texas), David Hyman (Illinois), & Charles Silver (Texas) use Texas data to "simulate" the effects of the sort of plan long championed by Virginia's Jeffrey O'Connell. They predict:

An early offer program will (i) sharply reduce payouts in cases with small economic damages; (ii) will not materially affect predicted payouts in other cases; (iii) will have very different effects on different types of plaintiffs, with large payout reductions for elderly and deceased plaintiffs and much smaller effects for newborns and employed adult plaintiffs; and (iv) will overlap substantially in its effects with statutory caps on non-economic damages, and hence have a smaller effect in states with these caps.