Measuring Loss in Catastrophic Injury Cases

This new reference work addresses the loss measurement issues confronted in catastrophic injury cases. The measurement of loss in such cases is an interdisciplinary effort involving the participation of many specialists including economists, rehabilitation counselors and therapists, health care providers, life care planners, attorneys, and others, including the patient and his or her family. This book is designed for all parties involved in catastrophic injury cases. Areas covered include the interdisciplinary nature of measuring loss, the role of the forensic economist in determining loss, working with life care planners and rehabilitation and vocational experts, impact of a reduced life expectancy, types of settlements including annuities, structured settlements and periodic payment judgments, and suggestions for building an expert damages team when working on this type of case. In this book, you’ll find the information necessary to assess and derive a fair and accurate measurement that will, as fairly as possible, compensate the injured party and/or his or her family for his or her actual losses.Interdisciplinary nature of measuring loss The role of the forensic economist The roles of vocational and rehabilitation experts Overvieww of life care planning What is needed from life care planning experts Impact of reduced life expectancy Annuity contracts Structured Settlements Periodic payment judgments Building an expert damages team

Dr. Kevin S. Marshall received the degree of Bachelor of Arts, cum laude, Phi Beta Kappa, with a major in Economics from Knox College in May 1982. Upon graduating from Knox College, he attended Emory University’s School of Law in Atlanta, Georgia, where he was conferred the degree of Juris Doctorate in May 1985. In May 1991, he received the degree of Master of Public Affairs from the University of Texas at Dallas, and in December of 1993, he was awarded the degree of Doctor of Philosophy in Political Economy from the University of Texas, Dallas. Additionally, Dr. Marshall is certified in Quantitative Methods and Economic Analysis by the University of Texas at Dallas’ School of Social Sciences for his academic achievement and coursework in Descriptive and Inferential Statistics, Costs-Benefits Analysis, Social Science Research Methods, Regression Analysis, Advanced Regression Analysis, and Econometrics. In 2004, Dr. Marshall accepted a tenured-track faculty position with the University of La Verne College of Law in Ontario, California where he now serves as an Assistant Professor of Law, teaching Law & Economics and Remedies. Dr. Marshall is also a practicing economist and serves as a Senior Fellow at the Institute for Policy Studies and Information Services (IPSIS), a for-profit organization founded for the purpose of promoting, preserving and enhancing the integrity of scientific methodology in the policy-making process. He is the editor of The Earnings Analyst, the annual publication of the American Rehabilitation Economics Association dedicated to the publication of quality manuscripts dealing with substantive research and practice issues in the areas of forensic vocational and economic evaluation and testimony. Dr. Marshall has served as both a testifying and consulting economic expert with respect to economic damages in personal injury, wrongful death, commercial, breach of contract, wrongful termination, employment discrimination, Robinson-Patman and antitrust cases. Dr. Marshall has published and presented numerous articles involving the interdisciplinary workings of law and economics. Thomas R. Ireland earned his Bachelor of Arts degree in economics from Miami University in 1964 and his doctorate in economics from the University of Virginia in 1968. He is now a professor emeritus of economics with the University of Missouri at St. Louis. He has written, co-written or co-edited twelve books, 120 papers, comments or book reviews in professional journals, and has appeared a corresponding number of times as a paper presenter, program chair or commenting panelist at professional meetings of economists. He is a former president of the American Academy of Economic and Financial Experts and the American Rehabilitation Economics Association and is a former vice president of the National Association of Forensic Economics. He is the past editor of The Earnings Analyst and past Associate Editor of the Journal of Forensic Economics and the Litigation Economics Digest. He has worked as a consultant for attorneys in the area of forensic economics since 1974 and has a consulting practice that is fairly evenly divided between plaintiff and defense assignments. He is a well known opponent of “hedonic damages” testimony by economic experts, arguing that economists have no expertise in the measurement of “loss of enjoyment of life,” “loss of society or consortium” or “pain and suffering” damages. He has also done a significant work in FELA cases, and is currently doing research on the use of annuities as a way to provide needed life care services in cases involving catastrophic injuries.