Journal of Forensic Economics最新文献

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Assessment of Earning Capacity, Third Edition 收入能力评估,第三版
Journal of Forensic Economics Pub Date : 2012-03-01 DOI: 10.5085/JFE.23.1.91
Frank L. Slesnick
{"title":"Assessment of Earning Capacity, Third Edition","authors":"Frank L. Slesnick","doi":"10.5085/JFE.23.1.91","DOIUrl":"https://doi.org/10.5085/JFE.23.1.91","url":null,"abstract":"The book being reviewed was written by a vocational expert. Dr. Shahnasarian has a Ph.D. in counseling psychology from Florida State University and is president of Career Consultants of America, Inc. located in Tampa, Florida. As such, the book is of greatest interest to other vocational experts. Nevertheless, since vocational experts work so closely with forensic economists in many cases, the book is potentially useful to economists as well.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124355448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Personal Consumption and Single Persons: A Comment 个人消费与单身人士:评论
Journal of Forensic Economics Pub Date : 2012-03-01 DOI: 10.5085/JFE.23.1.33
T. Ireland
{"title":"Personal Consumption and Single Persons: A Comment","authors":"T. Ireland","doi":"10.5085/JFE.23.1.33","DOIUrl":"https://doi.org/10.5085/JFE.23.1.33","url":null,"abstract":"Kurt Krueger's paper on “Personal Consumption and Single Persons” (2011) identifies five approaches for determining the amount that should be subtracted from the income of wrongfully killed single persons living in single person households to account for the personal expenses of those single persons when calculating economic damages in wrongful death circumstances. However, none of Krueger's methods are useful in the large majority of states with conventional Wrongful Death Acts. The reason is not flaws in Krueger's calculations, but flaws in Krueger's understanding of what is required in Wrongful Death Actions.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133656442","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Damage Awards Using Intermediate Term Government Bond Funds vs. U.S. Treasuries Ladder: Tradeoffs in Theory and Practice 使用中期政府债券基金与美国国债阶梯的损害赔偿:理论与实践的权衡
Journal of Forensic Economics Pub Date : 2012-03-01 DOI: 10.5085/JFE.23.1.1
J. I. Rosenberg, Rick R. Gaskins
{"title":"Damage Awards Using Intermediate Term Government Bond Funds vs. U.S. Treasuries Ladder: Tradeoffs in Theory and Practice","authors":"J. I. Rosenberg, Rick R. Gaskins","doi":"10.5085/JFE.23.1.1","DOIUrl":"https://doi.org/10.5085/JFE.23.1.1","url":null,"abstract":"Valuing damage awards for personal injury or wrongful death requires the application of finance theory to achieve a practical result. Methods for discounting future earnings losses fall into two major categories: Current market rates, which offer greater objectivity, and historical rates, which theoretically offer greater stability of results by averaging away the effect of often volatile “current” market conditions. The purpose of this paper is to provide a unique ex post comparison of damage awards using distinctive current and historical rates methods that highlight the inherent differences between the two major discounting alternatives. Current market rates methods are represented by a Treasury bond ladder with no instrument rollover, using initial market rates for both discounting and investing damage awards. Historical rates methods are represented by intermediate term government bonds; historical average five-year Treasury yields are used for discounting the damage award, with annual bond rollover required afterwards to maintain the award investment in comparable instruments, creating realized total returns from investing. These alternative methods are compared, ex ante in terms of the present value of the awards, and also ex post, in terms of how well each method's award, based on the same projected lost earnings, is able to support paydowns based on actual lost earnings. Key findings include: (a) both methods result in widely varying lump sum awards; (b) the idea that historical rates offer greater stability of results over time is empirically unsupportable; (c) that a good measure of methodological accuracy is the relative variance in award present values observed by first discounting and then subsequently investing under each method using the same instruments; (d) that different economic conditions greatly affect the relative ex post accuracy of each method; and (e) that neither method is very accurate in projecting present value of earnings losses upon ex post analysis.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121442785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Louisiana 评估人身伤害和过失死亡诉讼中的经济损失:路易斯安那州
Journal of Forensic Economics Pub Date : 2012-03-01 DOI: 10.5085/JFE.23.1.41
James R. Bartkus, Shael N. Wolfson
{"title":"Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Louisiana","authors":"James R. Bartkus, Shael N. Wolfson","doi":"10.5085/JFE.23.1.41","DOIUrl":"https://doi.org/10.5085/JFE.23.1.41","url":null,"abstract":"This article details the case law, statutes, codes and procedural rules that govern the assessment of economic damages in personal injury (PI) and wrongful death (WD) cases in the state courts of Louisiana. Despite the fact that Louisiana is the only state in the union whose law is founded upon the civil law tradition, practicing forensic economists will find little deviation from standard methodology.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2012-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125153102","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Personal Consumption and Single Persons 个人消费和单身人士
Journal of Forensic Economics Pub Date : 2011-08-01 DOI: 10.5085/JFE.22.2.143
K. Krueger
{"title":"Personal Consumption and Single Persons","authors":"K. Krueger","doi":"10.5085/JFE.22.2.143","DOIUrl":"https://doi.org/10.5085/JFE.22.2.143","url":null,"abstract":"After examining the competing perspectives regarding single person consumption, this paper makes an effort to improve the quantification of economic losses in cases involving the wrongful death of single persons. I show a new disaggregation of the Consumer Expenditure Survey microdata source which is then used to calculate various economic loss measures warranted by legal jurisdiction and economic thought. Traditional personal consumption methodology computes economic losses as the decedent's earnings multiplied by one minus a personal consumption rate. This paper adds a new method of computing economic losses as the decedent's earnings multiplied by the percent of survivors' or estate's benefit from those earnings. Significant differences result between the methods and in the personal consumption amounts between males and females and wage-earners and non-wage earners of retirement age. It was also discovered that some single-person maintenance consumption results may be applicable to married persons.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132016327","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 5
The Markov Process Model of Labor Force Activity: Extended Tables of Central Tendency, Shape, Percentile Points, and Bootstrap Standard Errors 劳动力活动的马尔可夫过程模型:集中趋势、形状、百分位数和自举标准误差的扩展表
Journal of Forensic Economics Pub Date : 2011-08-01 DOI: 10.5085/JFE.22.2.165
Gary R. Skoog, James E Ciecka, K. Krueger
{"title":"The Markov Process Model of Labor Force Activity: Extended Tables of Central Tendency, Shape, Percentile Points, and Bootstrap Standard Errors","authors":"Gary R. Skoog, James E Ciecka, K. Krueger","doi":"10.5085/JFE.22.2.165","DOIUrl":"https://doi.org/10.5085/JFE.22.2.165","url":null,"abstract":"This paper updates the Skoog-Ciecka (2001) worklife tables, which used 1997–1998 data, and the Krueger (2005) worklife tables, which used 1998–2004 data. The present paper uses data generated by the methodology Krueger devised in his 2003 PhD dissertation. We have pooled the data beginning January 2005 and continuing through December 2009, a period of five years, using observations matched a year apart. Thus, we have roughly four times the data in the first of the previous studies, and about that of the second. We chose this period for a variety of reasons, including recency, business cycle and trend considerations. The result is the most current and disaggregated set of worklife tables, along with extended probability calculations and statistical measures available to forensic economists.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127899451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 22
Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The Commonwealth of Virginia 评估人身伤害和过失死亡诉讼中的经济损失:弗吉尼亚州联邦
Journal of Forensic Economics Pub Date : 2011-08-01 DOI: 10.5085/JFE.22.2.231
Michael T. Zugelder, R. Strangways, Bruce L. Rubin
{"title":"Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The Commonwealth of Virginia","authors":"Michael T. Zugelder, R. Strangways, Bruce L. Rubin","doi":"10.5085/JFE.22.2.231","DOIUrl":"https://doi.org/10.5085/JFE.22.2.231","url":null,"abstract":"Abstract This article presents the legal framework for computation of economic damages in the Commonwealth of Virginia. Attention is given to the case law and statutory provisions governing damages for personal injury and wrongful death actions. The categories of damages are reviewed with specific consideration given to Virginia law's limited judicial precedent, conservative tort law, and evidentiary requirements for admissibility of expert testimony to establish economic loss. Included in the discussion is an analysis of law controlling the establishment of future losses.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121233182","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Value of Future Earnings in Perfect Foresight Equilibrium 完全预见均衡下的未来收益价值
Journal of Forensic Economics Pub Date : 2011-06-27 DOI: 10.5085/JFE.22.1.21
Scott D. Gilbert
{"title":"The Value of Future Earnings in Perfect Foresight Equilibrium","authors":"Scott D. Gilbert","doi":"10.5085/JFE.22.1.21","DOIUrl":"https://doi.org/10.5085/JFE.22.1.21","url":null,"abstract":"Abstract The present work considers the problem of valuing a future income stream in a perfect foresight economy. In this setting, with competitive equilibrium in labor and asset markets, market valuation of labor-generated income streams can be very simple. However, it can also be undone by moral hazard, in which case valuation may be based instead on fair compensation. I show that perfect foresight valuation emerges somewhat imperfectly in the forensic economics literature. To apply this type of valuation, the economist must form an expectation E[P] about perfect foresight price P. I consider several models of this expectation, some of which yield standard present value equations. I find that, while standard equations “fit” historical data well in some respects, they miss some dynamics that are better captured by more advanced econometric methods.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124014471","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
The Income-Based Human Capital Valuation Methods in Public Health Economics Used by Forensic Economics 司法经济学中基于收入的公共卫生经济学人力资本评估方法
Journal of Forensic Economics Pub Date : 2011-06-27 DOI: 10.5085/JFE.22.1.43
S. Grosse, K. Krueger
{"title":"The Income-Based Human Capital Valuation Methods in Public Health Economics Used by Forensic Economics","authors":"S. Grosse, K. Krueger","doi":"10.5085/JFE.22.1.43","DOIUrl":"https://doi.org/10.5085/JFE.22.1.43","url":null,"abstract":"Abstract This paper surveys the development of income-based human capital methods in public health economics which, with the exception of worklife expectancy, forms the methodological core of forensic economics. The main differences in the application of human capital valuation between the two disciplines are the use of statistical population averages and gross costs in public health economics and individual-specific estimates and net costs in forensic economics. The paper provides examples of the public health economics application of the human capital approach in cost-of-illness (COI) analyses of disease or injury, disability, and premature mortality with specific discussion of cerebral palsy.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115683563","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Using Historical Simulation to Compare the Accuracy of Nine Alternative Methods of Estimating the Present Value of Future Lost Earnings 用历史模拟比较估算未来损失收益现值的九种方法的准确性
Journal of Forensic Economics Pub Date : 2011-06-27 DOI: 10.5085/JFE.22.1.1
Brian C. Brush
{"title":"Using Historical Simulation to Compare the Accuracy of Nine Alternative Methods of Estimating the Present Value of Future Lost Earnings","authors":"Brian C. Brush","doi":"10.5085/JFE.22.1.1","DOIUrl":"https://doi.org/10.5085/JFE.22.1.1","url":null,"abstract":"To estimate the present value of future lost earnings, forensic economists must employ some method to determine the interest rate and the earnings growth rate, or the net discount rate derived from them, to use in that estimation. Historical simulation can be used to determine how accurate any such method would have been had it been used in the past. In this paper, historical simulation is used to compare the accuracy of nine different methods of choosing the net discount rate to estimate present value for numerous 30-, 20- and 10-year loss periods. These methods include historical averages, current rates, recent rates, total offset, and a number of methods that combine historical averages with current or recent rates. While no one method is obviously superior in all cases, the results do provide some support for blending historical averages with current or recent rates.","PeriodicalId":265321,"journal":{"name":"Journal of Forensic Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2011-06-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131388269","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
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