The Economics of Plaintiff-Side Personal Injury Practice

The Economics of Plaintiff-Side Personal Injury Practice
Author: David A. Hyman
Publisher:
Total Pages: 42
Release: 2015
Genre:
ISBN:

Little is known about the economics of plaintiff-side law firms, which typically work on a contingency fee basis. We begin here to fill that gap. We report on the fees received by 124 plaintiff-side personal injury firms located in four states (Illinois, Texas, and two additional undisclosed states), and estimate the impact of various statutory fee caps on those firms. At all of the firms, cases with modest fees may help to keep the lights on, but occasional “blockbuster” cases account for an overwhelming percentage of earned fees. A one-third contingency fee is the most common arrangement, but is not always collected ex post; when recoveries are low, firms often reduce or waive their fee. The estimated effect of caps on contingency fees varies, depending on cap design and the mix of cases a firm handles. But many fee caps dramatically affect the economics of plaintiff-side personal injury practice.

Personal Injury and Wrongful Death Damages Calculations

Personal Injury and Wrongful Death Damages Calculations
Author: John O. Ward
Publisher: Emerald Group Publishing
Total Pages: 334
Release: 2009-10-22
Genre: Law
ISBN: 1848553021

Focuses on litigation damages, economic and non-economic, including punitive damages; their definitions, calculations, and assignments in the US and EU. This book examines areas of convergence and divergence in the academic and practical treatment of damages issues in the US and EU.

Economic Damage Primer for Attorneys

Economic Damage Primer for Attorneys
Author: Dwight Steward
Publisher: Dwight Steward
Total Pages: 199
Release: 2007-03-31
Genre:
ISBN: 1598008196

"An excellent primer on economic damages for attorneys with injury and wrongful death cases." This book provides a concise non-mathematical introduction to economic valuation issues involving lost wages, employee stock options, hedonic damages, fringe benefits, household services. The book is well-suited for both new and seasoned attorneys litigating medical malpractice, products liability, or personal injury cases. In addition to providing a discussion of the underlying methodology, actual values for the economic damages in an injury or wrongful death case can be determined using the numerous tables and resources in this book. There are also discussions on a number of current trends and issues related to the admission of economic expert evidence in state and federal courts. "A hands on and interactive introduction" The supporting website, http: //www.economicdamagehandbook.com contains numerous on-line calculators and downloadable documents that readers can use to assist them in proving or rebut economic damages in any case.

Forensic Economics

Forensic Economics
Author: Frank D. Tinari
Publisher: Springer
Total Pages: 331
Release: 2016-12-01
Genre: Business & Economics
ISBN: 1137563923

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.

The Economics and Politics of Choice No-Fault Insurance

The Economics and Politics of Choice No-Fault Insurance
Author: Edward L. Jr. Lascher
Publisher: Springer Science & Business Media
Total Pages: 346
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1461515416

In recent years, choice no-fault has emerged as a popular but controversial proposal for addressing the problem of high automobile insurance rates. Choice plans offer consumers the option of a lower-cost insurance policy with restrictions on filing lawsuits or a higher-cost policy with full tort rights. Some American states have implemented choice programs, and major federal choice legislation is now pending in the United States Congress. Choice no-fault has caught the attention of policy makers, the insurance industry, and academics. Until now, however, no single book has pulled together the available research on the topic. The Economics and Politics of Choice No-Fault Insurance fills that gap. Edited by scholars from different disciplines, each of whom has written extensively on automobile insurance issues, the book includes some of the best work in the area. Former Massachusetts Governor and presidential candidate Michael S. Dukakis wrote the foreword. Contributors include University of Virginia Law Professor Jeffrey O'Connell, widely considered the `father of no-fault,' as well as authors of the influential RAND study of the potential effects of choice no-fault on insurance rates. The book chapters, most of which were written especially for this volume, cover topics ranging from the impact of choice no-fault on accidents and driving behavior, to the effects of choice on medical care usage, to alternative approaches for resolving accidents involving both `no-fault' and `tort' electors, to the political feasibility of choice legislative proposals. Emphasis on the potential advantages of choice no-fault is balanced by consideration of possible ill effects.

Evaluating Economic Damages

Evaluating Economic Damages
Author: Albert Link
Publisher: Praeger
Total Pages: 0
Release: 1992-08-21
Genre: Law
ISBN: 0899307639

It is estimated that over one-half of all litigation today is related, in some degree, to issues involving economic damages. This handbook presents the basic elements involved in the evaluation of economic damages associated with wrongful death and personal injury cases. It will assist practicing attorneys to understand, through examples, the conceptual issues involved in the determination of economic damages, and the methods used to evaluated such damages. The book is divided into two main sections. The first section of the book is devoted to estimation procedures specific to wrongful death cases. Nine key elements involved in an analysis of economic losses are systematically presented and illustrated in separate chapters. Reference tables are included to illustrate the variety of situations which exist, and the impact that changes in key assumptions about the situations have on the analysis. The second section of the book builds upon the concepts developed in the first section, and illustrates how to calculate economic losses in personal injury cases. These chapters also have examples and reference tables to assist the practicing attorney. A glossary of basic economic terms and an extensive bibliography are included.