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What does an ECONOMIC EXPERT DO?

In a Class Action, an economist serves as  data-base manager, data analyst, economic and statistical modeler, compiler of results, creator of demonstrative evidence, and expert at testimony. In this context, the economist

1. Develops a theory of Economic (and sometimes Non-Economic) damages that explicitly details the losses in a but-for analysis as if the damaging event had not taken place.

2. Uses quantitative data and other information to examine the company and/or individual in terms of industry, occupation, past and future outcomes, markets, and general economic conditions. Based upon this preliminary examination, the economist analyzes the data that may be used by the attorney as evidence for proof of liability in the case. 

3. Makes any necessary adjustments while considering various economic factors, including productivity, inflation, taxes, expected duration of loss, work-life and life expectancy of an individual, and the time-value of money.

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John Sase, Ph.D.