Textbook
Economic/Hedonic Damages
The Practice Book for Plaintiff and Defense Attorneys
Michael L. Brookshire and Stan V. Smith
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In his textbook, Dr. Stan V. Smith, “University of Chicago-trained economist” and President of Smith Economic Group, provides comprehensive coverage of economic damages, including the emergence of hedonic damages, both plaintiff and defense attorneys can apply. Using innovative techniques to determine economic damages, the book offers readers a method of establishing economically-justifiable awards.
Dr. Smith taught the first course in the nation on Forensic Economics at Chicago’s DePaul University, based on his textbook. The book has been subsequently used in courses taught by other economics professors in a number of other colleges and universities elsewhere in the country. A free copy of the book is provided with every engagement.
A clear understanding of economic damages can close the gap between the attorney and the jury. The book explains how the discipline of economics affects the calculation of damages in lawsuits, and teaches the attorney how to effectively use the forensic economist. Ultimately, it educates the jury in the appraisal of losses.
THE BOOK ALSO COVERS:
- Damage estimation techniques in personal injury, wrongful death, commercial, labor, and antitrust cases.
- A “road map” for direct and cross examination of a forensic economist.
- An explanation of hedonic damage theory and guidance for establishing or defending against a measure of hedonic damages at trial.
- Defense strategy for attacking a hedonic damages claim.
- A method for estimating structured settlements, including a discussion of tax treatment.
- Guidance on testimony in various areas, plus complete sample testimony on hedonic damages by the concept’s creator.
- Ways to present economic loss estimates at trial.
- Tips on finding and compensating the damage expert you need.
- Methods for proving damages at trial.
- How to evaluate special cases (such as partial disability).
- A common language of terms, techniques, and issues for case preparation and testimony.
- New 5-factor technique in personal injury cases, an enhancement of the two-factor analysis.
FACTORS INCLUDE:
- Difference between pre-injury and post injury earning capacity.
- Difference between pre-injury and post injury worklife (Life/Participation/Employment, the probability that at a given time a person will be alive, participating in the work force and actually employed).
- Difference between pre-injury and post-injury earnings growth rate.
- Difference between pre-injury and post-injury fringe benefits.
- Difference between pre-injury and post-injury household services.
