ECONOMIC RESEARCH & CONSULTATION
serving the legal community since 1997

In working on a Personal Injury case, an economist seeks to determine the reduction in earnings, benefits, and value of household services resulting from the injury. These losses are usually determined from the date of injury to an expected date of retirement. In some cases, loss determination is extended to end of life if there are accompanying reductions in pension or other benefits. In this context, the economist

1. Develops a theory of damages that explicitly details the basis in the form of a but-for analysis as if the damaging event had not taken place.

2. Uses quantitative data and other information to examine the employing company or individual in terms of industry, occupation, past and future outcomes, markets, and general economic conditions.

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

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