The Plaintiff and Defense Attorney's Guide to Understanding Economic Damages

Front Cover
Lawyers & Judges Publishing Company, 2007 - Law - 193 pages
0 Reviews
The Plaintiff and Defense Attorney's Guide to Understanding Economic Damages is an informative yet compact book pertaining to the use of economic damage testimony in trial or mediation. This book will be valuable part of your library if you are an attorney involved in a personal injury or death case and need to understand the practical issues involved with retaining economic expert witnesses and use of economic testimony in your upcoming trial or mediation. It is also valuable to you if you are a damages expert and wish to understand the legal perspective of your work. This book brings you a wealth of information on many different and important topics on understanding economic damages and using them to your benefit whether or not you are the plaintiff or defense attorney. It covers estimation of wage and salary loss, fringe benefit loss, household services loss, estimating losses for adults and children, and understanding and retaining economic damage experts. It also covers the roles of life care planners and vocational/rehabilitation experts and their roles in helping to determine economic damages. It also includes special cases and issues such as punitive damages, F.E.L.A. cases involving injured railroaders, international issues , gender, age, ethnic background, and more It teaches you how to achieve a successful result in both mediation and trial situations, with thorough coverage of perspectives of both plaintiff and defense attorneys. It also discusses structured settlements and their advantages and disadvantages. The accompanying CD-ROM includes additional resources including Internet sources of additional information, definitions of technical terminology, direct and cross-examination questions and answers, case studies, links to internet damage calculation sites, and more.
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Selected pages

Contents

Understanding Experts on Damage Valuation
1
11 It Ends With Dollars
2
12 Facts and Assumptions
3
13 Elements of Damages Considered
4
15 Methodology Used
7
16 Damages Presentation
9
17 Credentials of Damages Experts
10
18 Where Do You Find Quality Experts?
11
Less Tangible Damages
93
92 Survey of Economists
94
93 Measuring the Value of a Statistical Life
95
94 Wrongful Death
97
95 Personal Injury
98
96 Ancillary Material
99
Some Special Cases and Issues
101
102 Some Special Issues of Age
104

19 The Daubert Age
12
110 Is Economic Testimony Scientific?
14
The Trial Attorneys View on Choosing and Using Economists and Related Experts on Damages
15
22 Choosing Your Expert on Damages
17
23 The Use of a Forensic Economist in Litigation
19
Issues in the Estimation of Wage and Salary Losses
23
32 Conceptual Foundations for Estimating Lost Earnings
25
33 Distinction Between Expected Earnings and Earning Capacity
26
34 Determinants of Base Earnings
27
35 Determinants of the Future Rate of Increase in Base Earnings
28
36 Issues Related to Worklife
30
37 Bringing Future Dollars Back to the Presentthe Discount Rate Issue
31
38 Some Comments Concerning Economists Hired By the Defense
33
39 Final Comments
34
Fringe Benefits Losses
35
42 Collecting Information Needed to Value Employer Provided Fringe Benefits
36
43 Types of Fringe Benefits and Their Relative Importance
37
44 Placing a Value on Fringe Benefits and Issues That Arise
38
45 Valuing Fringe Benefits When a Young Person Is Injured
39
46 Valuing Fringe Benefits When an Employed Person Is Injured
41
47 Valuing Fringe Benefits When an Employed Person Is Killed
43
Household Services Losses
45
52 The Nature of Service Loss
46
53 Methods of Inventorying Service Loss
47
54 Resources Related to Service Loss
50
Endnote
51
The VocationalRehabilitation Expert
53
63 Vocational Rehabilitation Expert Credentials
55
65 Records Required for Vocational Rehabilitation Expert Evaluation
59
66 PreInjury versus PostInjury Evaluation
60
67 Evaluation of Earning Capacity in Pediatric Cases
62
68 Earnings versus Earnings Capacity
63
69 Evaluation of Individuals with Preexisting Earning Capacity Disabilities
64
610 PostInjury Earning Capacity EvaluationWhat Information to Use?
66
611 Barriers to Vocational Rehabilitation Evaluation
67
612 Interface with Forensic Economists and other Experts
70
613 Summary
71
Issues of Life Care Planners and Medical Care Costs
73
73 EducationTraining of a Life Care Planner
74
74 Roles of the Life Care Planner
76
75 The Life Care Planning Process
77
76 Communication With Case Experts and Other Professionals
79
77 Specific Economic Issues Related to Life Care Plans
81
Wrongful Death Cases and Personal Consumption Deductions
85
83 Alternative Methods and Data Sources
86
84 Two Earner Households
88
85 Single Persons
90
86 Final Comments
91
103 The Effects of Gender and Race
105
104 Special Occupations
106
105 Special InjuriesWrongful Termination
107
106 Summary and Conclusion
108
The Special Issues of FELA Cases
109
112 Key Information
111
114 Issues with Offsets to Railroader Earnings
113
115 Retirement Benefits
114
116 Worklife Expectancy
115
117 Summary
116
Punitive Damages
117
122 Alternative Approaches
118
123 Judicial Guidelines
119
124 Optimal Deterrence
120
125 Punish But Not Destroy
123
126 The State Farm v Campbell Exception
128
128 Summary and Conclusion
129
Inside the Mediation Experience Proof Practice and Preparation
131
132 Three Styles of Mediation
132
133 Role of the Mediator
133
135 Convening the Mediation
135
136 The Opening Session
139
137 The Caucus
140
139 Documenting the Deal
141
1310 Ethical Issues
142
Structured Settlements
143
142 Advantages and Disadvantages
144
143 When Structured Settlements Are Used
146
145 The Role of the Economist Evaluating Structured SettlementsThe Plaintiffs Perspective
147
146 Concluding Comments
148
The Plaintiff Attorneys Perspective on Economic Damages at Trial
149
152 Types of Economic Damages in Wrongful Death Cases
154
153 Presenting Economic Damages at Trial
155
A Defense Trial Lawyer on Damage Issues at Deposition and Trial
163
The Discovery Process
164
164 The Data You Need for Depositions
165
166 What Was Done and What Was Not Done by the Economist
166
167 Specific Discovery Areas
167
169 Preparing the Defense Economist for Deposition
168
1611 Conclusion
173
International Issues in Economic Damages
175
173 The Foreign National in the Foreign Country with US Jurisdiction
178
175 Summary
179
About the Editors
181
About the Authors
183
Index
189
Copyright

Common terms and phrases

About the author (2007)

Michael L. Brookshire, Ph.D. is a Professor of Economics at the Marshall University Graduate College in Charleston, West Virginia, and the President of Michael L. Brookshire and Associates. His doctorate in economics is from the University of Tennessee, Knoxville, and much of his early career was spent as an executive officer of the University of Tennessee and the University of Cincinnati. Dr. Brookshire has authored two books and over thirty-five refereed articles and book chapters on the proper calculation of economic damages. He has worked for plaintiff and defense attorneys in such notable cases as the Arrow Air (Gander, Newfoundland) and Lockerbie (Scotland) airplane crash cases and suchclass action cases as the Fen-Phen, Bendectin, E. I. du Pont C-8, and Tobacco Smoker cases. Dr. Brookshire was a charter member of the National Association of Forensic Economics (NAFE) and served on the Board of Directors from 1990-2001. He served as the fifth president of the Association in 1993–1994 and as the second, executive director of the Association from 1999–2001. He received in 1999 the past presidents' award for outstanding service to the Association.Frank Slesnick, Ph.D. received his B.A. from Oberlin College and Ph.D. in Economics from the University of Minnesota. He taught at Denison University in Granville, Ohio, and for thirty years at Bellarmine University in Louisville, Kentucky. In addition to his full-time duties as a professor of economics, he has served as a forensic economic consultant for twenty-five years in the area of personal injury/death cases with a specific focus on medical cost issues. Dr. Slesnick has published widely in the field of forensic economics and currently serves as an Associate Editor of the Journal of Forensic Economics. In 1991–92, he served as the fourth President of the National Association of Forensic Economics. He retired from teaching in 2005 but maintains an active consulting practice.John O. Ward, Ph.D. is Professor Emeritus of Economics at the University of Missouri-Kansas City (UMKC) and President of John Ward Economics, a litigation consulting firm located in Prairie Village, Kansas. Dr. Ward has a B.A. and M.A. in Economics from the University of Toledo and a Ph.D. from the University of Oklahoma, granted in 1970. Dr. Ward was a professor of economics at UMKC from 1969 to 2003, serving as Department Chair for fourteen years and Associate Dean of the College of Arts and Sciences for eight years. He continues to teach Human Resource Economics and Law and Economics for graduate students. His publications include five edited or authored books, fifty-three papers published in refereed journals, publications in law journals and reviews and numerous presentations at national and international academic and professional meetings. Dr. Ward was the first President of the National Association of Forensic Economics and the founding editor of the Journal of Forensic Economics. He served as editor of that journal until 2004, when he became editor emeritus. Dr.Ward has served as a consultant for the Department of Labor, the Department of Defense, the governments of Brazil and Mexico and numerous non-profit organizations, including the American Epilepsy Association and the Families of September 11th Association. Dr. Ward's consulting firm, John Ward Economics, employs eight economists and staff. The firm provides economic litigation support in commercial litigation, employment law, anti-trust and personal injury and death litigation throughout the United States.

Bibliographic information