This edited collection addresses the major issues encountered in the calculation of economic damages to individuals in civil litigation. In federal and state courts in the United States, as well as in other nations, when one party sues another, the suing party is required not only to prove that the harm was, indeed, caused by the other party, but also to claim and demonstrate that a specified dollar value represents just compensation for the harm. Forensic economists are often called upon to evaluate, measure, and opine on the degree of economic loss that is alleged to have occurred. Aimed at…mehr
This edited collection addresses the major issues encountered in the calculation of economic damages to individuals in civil litigation. In federal and state courts in the United States, as well as in other nations, when one party sues another, the suing party is required not only to prove that the harm was, indeed, caused by the other party, but also to claim and demonstrate that a specified dollar value represents just compensation for the harm. Forensic economists are often called upon to evaluate, measure, and opine on the degree of economic loss that is alleged to have occurred. Aimed at both practitioners and theorists, the original articles and essays in the edited collection are written by nationally recognized and widely published forensic experts. Its strength is in showcasing theories, methods, and measurements as they differ in a variety of cases, and in its review of the forensic economics literature developed over the past thirty years. Readers will find informative discussions of topics such as establishing earnings capacity for both adults and infants, worklife probability, personal consumption deductions, taxation as treated in federal and state courts, valuing fringe benefits, discounting theory and practice, the effects of the Affordable Care Act, the valuation of personal services, wrongful discharge, hedonics, effective communication by the expert witness, and ethical issues. The volume also covers surveys of the views of practicing forensic economists, the connection between law and forensic economics, alternatives to litigation in the form of VCF-like schedules, and key differences among nations in measuring economic damages.
Frank D. Tinari is Professor Emeritus of Economics at Seton Hall University, USA, where he taught for 31 years. He is the author of a college economics textbook and dozens of peer-reviewed articles in the Journal of Forensic Economics, Journal of Legal Economics, Journal of Economic Education, Eastern Economic Journal, and others. He founded the Tinari Economics consultancy and has served as Principal Economist of the Sobel Tinari Economics Group. Tinari has written thousands of economic loss appraisals and testified as an expert witness in over 1,000 cases in several states, as well as in dozens of cases before the Special Master of the 911 Victim Compensation Fund. He served on the Board of the National Association of Forensic Economics and was its President from 2005 to 2006. Contributors Gary R. Albrecht, Albrecht Economics, USA Michael L. Brookshire, Marshall University, USA James E. Ciecka, DePaul University, USA Joshua Congdon-Hohman, College of the Holy Cross, USA Stephen M. Horner, Economic Consulting, USA Thomas R. Ireland, University of Missouri-St. Louis, USA David D. Jones, Economic Consulting Services, LLC, USA Kurt V. Krueger, John Ward Economics, USA Timothy Lanning, Formuzis, Pickersgill & Hunt, Inc., USA Victor A. Matheson, College of the Holy Cross, USA James D. Rodgers, Pennsylvania State University, USA Thomas Roney, Thomas Roney, LLC, USA David Rosenbaum, University of Nebraska-Lincoln, USA David Schap, College of the Holy Cross, USA Gary R. Skoog, Legal Econometrics, Inc. Frank Slesnick, Bellarmine University, USA Lawrence M. Spizman, State University of New York at Oswego, USA John O. Ward, University of Missouri-Kansas City, USA
1. An Introduction to the Field of Forensic Economics; Frank D. Tinari 2. The Meaning of Earning Capacity; Stephen M. Horner, Frank L. Slesnick 3. Evolution of Worklife Expectancy Measurement; Gary R. Skoog, James E. Ciecka 4. Personal Consumption and Wrongful Death Damages; Kurt V. Krueger, Gary R. Albrecht 5. Estimating Educational Attainment and Earning Capacity of a Minor Child; Lawrence M. Spizman 6. Incorporating Fringe Benefits in Loss Calculations; James D. Rodgers 7. Federal and State Income Tax Aspects in Forensic Economics; David Schap 8. Issues in Applying Discount Rates; David Jones 9. Potential Effects of the Affordable Care Act on Loss Calculations; Joshua Congdon-Hohman, Victor A. Matheson 10. Challenges in Valuing Loss of Services; Frank D. Tinari 11. Issues in Employment Litigation Analysis; Thomas Roney, Timothy Lanning 12. Differences Among State Court Jurisdictions in Damages Calculations; David Rosenbaum, David Schap 13. Forensic Economists and Their Changing Viewpoints Over Time; Michael L. Brookshire, Frank L. Slesnick 14. Hedonic Valuation Issues; Gary R. Skoog 15. Ethical Dimensions of Forensic Economics; Frank D. Tinari 16. Understanding Law as a Part of Forensic Economic Practice; Thomas R. Ireland 17. Effective Communications as a Forensic Economist; Frank D. Tinari 18. Reflections on the 911 Victim Compensation Fund; Frank D. Tinari, John O. Ward 19. Differences Among Nations in Measuring Economic Damages; John O. Ward
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