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Author: Thomas R. Ireland Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper examines trends in court decisions involving hedonic damages as a follow up to an earlier survey of cases described by Ireland, Johnson and Taylor in a 1997 article. The trend continues to be against admissibility of expert economic testimony on hedonic damages or other methods for placing dollar values on intangible losses. However, there have been successes for hedonic damage testimony that receive special attention in this paper. Paper also addresses special factors that apply to decisions in the states of New Mexico, Louisiana, Mississippi, Ohio and Texas. It also examines the nexus between law and economics concerns about “value of life” issues in tort litigation and what judges are actually considering. Finally, it provides an analytic examination of a special “whole life” issue posed by the treatment of survival actions in New Mexico in conjunction with requirements of consciousness for awards of hedonic damages in other states.
Author: Thomas R. Ireland Publisher: ISBN: Category : Languages : en Pages :
Book Description
This paper examines trends in court decisions involving hedonic damages as a follow up to an earlier survey of cases described by Ireland, Johnson and Taylor in a 1997 article. The trend continues to be against admissibility of expert economic testimony on hedonic damages or other methods for placing dollar values on intangible losses. However, there have been successes for hedonic damage testimony that receive special attention in this paper. Paper also addresses special factors that apply to decisions in the states of New Mexico, Louisiana, Mississippi, Ohio and Texas. It also examines the nexus between law and economics concerns about “value of life” issues in tort litigation and what judges are actually considering. Finally, it provides an analytic examination of a special “whole life” issue posed by the treatment of survival actions in New Mexico in conjunction with requirements of consciousness for awards of hedonic damages in other states.
Author: John O. Ward Publisher: Lawyers and Judges Publishing ISBN: 9780913875520 Category : Business & Economics Languages : en Pages : 547
Book Description
The hedonic damage concept has been used to introduce testimony from economic experts on loss of the enjoyment of life in both wrongful death and personal injury litigation. It has also recently been used to introduce testimony about "loss of society" to survivors of decedents. All of these developments are presented in a balanced format that includes papers defining, supporting, opposing and proposing alternatives to the "hedonic damage" concept in all of its applications. It also considers the impact of the 1993 Daubert v. Merrell Dow mandates of the U.S. Supreme Court as well as individual state cases and mandates on this type of economic expert testimony.
Author: W. Kip Viscusi Publisher: Princeton University Press ISBN: 069120859X Category : Business & Economics Languages : en Pages : 289
Book Description
How society’s undervaluing of life puts all of us at risk—and the groundbreaking economic measure that can fix it Like it or not, sometimes we need to put a monetary value on people's lives. In the past, government agencies used the financial "cost of death" to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt an altogether different approach--the value of a statistical life, or VSL—and persuasively shows how its more widespread use could create a safer and more equitable society for everyone. In the 1980s, W. Kip Viscusi used the method to demonstrate that the benefits of requiring businesses to label hazardous chemicals immensely outweighed the costs. VSL is the risk-reward trade-off that people make about their health when considering risky job choices. With it, Viscusi calculated how much more money workers would demand to take on hazardous jobs, boosting calculated benefits by an order of magnitude. His current estimate of the value of a statistical life is $10 million. In this book, Viscusi provides a comprehensive look at all aspects of economic and policy efforts to price lives, including controversial topics such as whether older people's lives are worth less and richer people's lives are worth more. He explains why corporations need to abandon the misguided cost-of-death approach, how the courts can profit from increased application of VSL in assessing liability and setting damages, and how other countries consistently undervalue risks to life. Pricing Lives proposes sensible economic guideposts to foster more protective policies and greater levels of safety in the United States and throughout the world.
Author: Lloyd S. Dixon Publisher: Rand Corporation ISBN: 9780833036919 Category : Business & Economics Languages : en Pages : 218
Book Description
The terrorist attacks of September 11, 2001, caused tremendous loss of life, property, and income, and the resulting response from public and private organizations was unprecedented. This monograph examines the benefits received by those who were killed or seriously injured on 9/11 and the benefits provided to individuals and businesses in New York City that suffered losses from the attack on the World Trade Center. The authors examine the performance of the compensation system--insurance, tort, government programs, and charity--in responding to the losses stemming from 9/11.
Author: Thomas R. Ireland
Author: Thomas R. Ireland
Author: John O. Ward
Author: Michael L. Brookshire
Author: Richard A. Palfin
Author: 
Author: Gerald D. Martin
Author: Anne Bloom
Author: 
Author: W. Kip Viscusi
Author: Lloyd S. Dixon