Forensic Economics : Assessing Personal Damages in Civil Litigation
edited by Frank D. Tinari
Preface -- Contents -- Notes on Contributors -- List of Tables -- Chapter 1: An Introduction to the Field of Forensic Economics -- Notes -- References -- Chapter 2: The Meaning of Earning Capacity -- 2.1 Introduction -- 2.2 Definitions -- 2.3 Supply and Demand -- 2.3.1 The Supply Side -- 2.3.2 The Role of Preferences -- 2.3.3 The Demand Side -- 2.4 Principles of Measuring Impairment to Earning Capacity -- 2.5 Summary -- Notes -- References -- Cases Cited -- Chapter 3: Evolution of Worklife Expectancy Measurement -- 3.1 Introduction -- 3.2 Historical Development of Worklife Expectancy -- 3.3 Current (Markov) Model and Conventional Models -- 3.3.1 Specification -- 3.3.2 Sample Paths -- 3.3.3 Computation of WLE by Forward Recursion and Decomposition -- 3.3.4 Demographic Exposition of WLE -- 3.3.5 Backward Recursion and Probability Mass Functions -- 3.3.6 Bootstrap and Standard Errors -- 3.4 Specific Populations: Multiple Decrements and/or Unique Transition Probabilities -- 3.5 Variants -- 3.5.1 Lower Order (LPE) -- 3.5.2 Higher Order -- 3.5.3 Other Variants: Logit Instead of Relative Frequency Estimates -- 3.5.4 Other Variants: More or Different States -- 3.6 Front-Loading and Uniform Loading -- 3.7 Temporal Comparison of WLE Estimates -- 3.8 Disability -- 3.9 Future Research -- Notes -- References -- Chapter 4: Personal Consumption and Wrongful Death Damages -- 4.1 Introduction -- 4.2 Normative Decision-Making About Wrongful Death Damages -- 4.3 Income-Related Damages -- 4.3.1 Wealth Effects -- 4.3.2 Income Effects -- 4.3.3 Defining Personal Consumption Expenditures -- 4.3.4 Allocating Personal Consumption -- 4.3.5 Other Personal Consumption Measurement Issues -- 4.3.6 Contingent Wrongful Death Damages -- 4.3.7 Estimates From the Consumer Expenditure Survey -- 4.4 Consumption-Based Estimates of Wrongful Death Damages -- 4.5 Conclusion -- Notes -- References -- Chapter 5: Estimating Educational Attainment and Earning Capacity of a Minor Child -- 5.1 Introduction -- 5.2 Educational Attainment Model History -- 5.3 The Educational Attainment Model -- 5.4 Using the Educational Attainment Model -- 5.4.1 Age-Earnings Base Year Profiles -- 5.4.2 Worklife Expectancy -- 5.4.2.1 Earnings Estimates -- 5.4.2.2 Education Probability -- 5.5 Self-Consumption in Personal Injury with a Life Care Plan -- 5.6 Conclusion -- Notes -- References -- Chapter 6: Incorporating Fringe Benefits in Loss Calculations -- 6.1 Introduction -- 6.2 Why Do Firms Offer Voluntary Fringe Benefits to Employees? -- 6.3 Types and Cost of Employer-Provided Fringe Benefits -- 6.4 Information Needed to Value Employer-Provided Fringe Benefits -- 6.5 Valuing Fringe Benefits -- 6.6 Valuing Fringe Benefits When There Is Limited Information -- 6.7 Valuing Fringe Benefits When an Employed Person Is Injured -- 6.8 Valuing Fringe Benefits When an Employed Person Is Killed -- 6.9 Conclusion -- Notes -- References -- Chapter 7: Federal and State Income Tax Aspects in Forensic Economics
