Stan's Articles

Stan Smith's articles have appeared in numerous legal and economic publications. Click here to find downloadable PDF versions of these articles.

Cross-Examination of The Economic Expert

Excerpt from Chapter 11: Economic Damages at Trial 
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
Many general tactics are available in cross-examination. The defense attorney may ask no questions and ignore the expert, especially if liability is in serious doubt.

Direct Examination of Economic Expert

Excerpt from Chapter 11: Economic Damages at Trial 
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
The overriding rule for the plaintiff’s attorney and economic expert is that economic testimony must be made as straightforward and understandable as possible.

Voir Dire

Excerpt from Chapter 11: Economic Damages at Trial 
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
The plaintiff’s attorneys generally state that the liability side of the case will be more important than the damages side as a consideration in jury selection. This might be reversed, for example, when the liability seems to be clear and very large economic damages are to be advanced. At any rate, plaintiffs’ attorneys do consider the proof of damages as a jury is selected.

Preparation for Trial: Plaintiff, Defense, and Testimony

Excerpt from Chapter 10: Pre-Trial Tasks and Issues
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
The forensic economist for the plaintiff will have three primary resources on the witness stand — above and beyond his brain, experience, personality, etc. These are:
His specific case file.
His file or notebook of back-up economic or related data.
His exhibits.
As trial approaches, the economist must ensure that he is prepared to effectively utilize these resources.

Discovery Depositions

Excerpt from Chapter 10: Pre-Trial Tasks and Issues
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
If the defense attorney decides to proceed with a discovery deposition on the plaintiff’s economist, he must decide upon his primary reason for requesting the deposition.

Structured Settlements and Settlement Negotiations

Excerpt from Chapter 10: Pre-Trial Tasks and Issues
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
Defense and plaintiffs’ attorneys seek to reach equitable resolution of their cases. Most of the time, this pursuit leads to settlement rather than trial. The majority of settlements are reached even before suit is filed, and the majority of the remaining cases are settled before trial. For both plaintiffs and defendants, there are two principal advantages to settling.

General Considerations on the Defense Side

Excerpt from Chapter 10: Pre-Trial Tasks and Issues
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
In Chapter Two, the issue of whether an economist should be hired by the defense attorney was discussed. If a defense economist has been hired, his role includes a careful study of the economic analysis on the plaintiff economist and of past evaluations by that economist.

General Considerations on the Plaintiff’s Side

Excerpt from Chapter 10: Pre-Trial Tasks and Issues
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
The manner in which the plaintiff’s attorney uses his economist and his economic analysis may be influenced by his evaluation of the probabilities of settlement versus trial.

A Background of Hedonic Damages

Excerpt from Chapter 9: Hedonic Damages
Economic/Hedonic Damages: The Practice Book for Plaintiff and Defense Attorneys by Michael L. Brookshire and Stan V. Smith
Since 1937 in Rose v. Ford,7 English courts have allowed a separate recovery for the “loss of expectation of life.”

Stan V. Smith, Ph.D.

University of Chicago-trained Economist and Financial Consultant

Dr. Smith and his team provide high quality strategies to educate a jury in economic valuation & analysis for fair awards.

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