newsletter (volume 5 issue 4)
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Incorporating the Effect of Reduced Life Expectancy into Awards for Future Costs of Care
In this article David Strauss, Robert Shavelle, Christopher Pflaum, and Christopher Bruce argue that the method used by most economists and actuaries for calculating life expectancy among the seriously disabled is flawed. They argue that this method leads to the systematic overestimation of costs of future care. They show, for example, that the costs of… Continue reading
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Evaluation of Harm to a Class of Individuals
In this article Kelly Rathje explains how the estimates of damages can be improved if the plaintiff is one of a class of individuals who have been affected by the same harm. In such cases, a statistical technique known as econometrics can be employed to compare the earnings capacity of the victims of the harm… Continue reading
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What is Econometrics?
In this article Chris Bruce and Kelly Rathje explain the fundamental principles of “econometrics”. Continue reading