Determining Economic Damages

REVISION 28 HIGHLIGHTS Determining Economic Damages guides you start-to-finish through damage assessment and proof. Learn how economic damages are calculated, what to ask a forensic economist, and which tables to consult for current data on which to base damages calculations, and more. New in this edition: CHAPTER 3 PAST AND FUTURE EARNINGS Small Business Owners and Other Self-Employed Workers. Evaluating lost earnings for a self-employed plaintiff presents special challenges. Methods used for traditional employees are not likely to be sufficient. See §353 for helpful documents and key questions a damages expert should ask. CHAPTER 7 LOSS DURATION; LIFE EXPECTANCY; AND WORKLIFE EXPECTANCY The Skoog/Ciecka/Krueger Years to Final Separation from Labor Force Tables. Years to final separation allows the damages expert to consider the plaintiff’s time not in the workforce before finally leaving it. See §734.WLE and YFS Compared. In some situations, WLE is a preferred measure of loss duration and in other matters, YFS is more appropriate. The choice depends on the facts of the case. See §743. CHAPTER 9 USING REPORTS OF MEDICAL AND REHABILITATION EXPERTS Medical Care Price Increases and Life Care Plans. To estimate the future costs of goods and services indicated in a life care plan, you must increase the costs of these goods and services into the future before discounting them to present value. See §920. CHAPTER 16 COMMERCIAL ECONOMIC DAMAGES: LOST PROFITS When to Value Lost Profits. When to value lost profits is a key issue to discuss with the retaining attorney to comport with rules applicable to the venue and type of case. There are typically three-date alternatives. See §16111.What Discount Rate to Use When Discounting Lost Profits. Courts have taken three basic approaches to the choice of discount rate. See §16111. CHAPTER 18 ECONOMIC DAMAGES FROM INTELLECTUAL PROPERTY INFRINGEMENT Remedies in Copyright and Trademark Cases involving Infringer’s Costs. Courts do not agree about which expenses to deduct from revenue to account for defendant’s profits, especially in copyright and trademark cases. See §1846.And More!

Uses proven procedures, checklists, samples and tables to value economic loss in wrongful death and personal injury cases. Learn how to calculate damages, what to ask a forensic economist, which tables to consult for current information on damages and more.

How-to guidance for measuring lost profits due to business interruption damages A Quantitative Approach to Commercial Damages explains the complicated process of measuring business interruption damages, whether they are losses are from natural or man-made disasters, or whether the performance of one company adversely affects the performance of another. Using a methodology built around case studies integrated with solution tools, this book is presented step by step from the analysis damages perspective to aid in preparing a damage claim. Over 250 screen shots are included and key cell formulas that show how to construct a formula and lay it out on the spreadsheet. Includes Excel spreadsheet applications and key cell formulas for those who wish to construct their own spreadsheets Offers a step-by-step approach to computing damages using case studies and over 250 screen shots Often in the course of business, a firm will be damaged by the actions of another individual or company, such as a fire that shuts down a restaurant for two months. Often, this results in the filing of a business interruption claim. Discover how to measure business losses with the proven guidance found in A Quantitative Approach to Commercial Damages.

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.