iicle slides gilbert
TRANSCRIPT
![Page 1: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/1.jpg)
Using an Expert in Calculating DamagesForensic Economics & Scientific Evidence
Scott Gilbert1
1Economics DepartmentSouthern Illinois University Carbondale
IICLE R© Advanced Personal Injury Law, March 2013
Scott Gilbert Calculating Damages
![Page 2: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/2.jpg)
Objectives
Explain the general circumstances in which lawyers useeconomics experts in their cases.
For personal injury cases, list circumstances in whicheconomics experts are useful.
Describe the working relationship between the lawyer andeconomics expert.
Distinguish between different economic approaches todetermining economic damages.
Decide whether an economic expert is right for your case.
Scott Gilbert Calculating Damages
![Page 3: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/3.jpg)
Objectives
Explain the general circumstances in which lawyers useeconomics experts in their cases.
For personal injury cases, list circumstances in whicheconomics experts are useful.
Describe the working relationship between the lawyer andeconomics expert.
Distinguish between different economic approaches todetermining economic damages.
Decide whether an economic expert is right for your case.
Scott Gilbert Calculating Damages
![Page 4: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/4.jpg)
Objectives
Explain the general circumstances in which lawyers useeconomics experts in their cases.
For personal injury cases, list circumstances in whicheconomics experts are useful.
Describe the working relationship between the lawyer andeconomics expert.
Distinguish between different economic approaches todetermining economic damages.
Decide whether an economic expert is right for your case.
Scott Gilbert Calculating Damages
![Page 5: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/5.jpg)
Objectives
Explain the general circumstances in which lawyers useeconomics experts in their cases.
For personal injury cases, list circumstances in whicheconomics experts are useful.
Describe the working relationship between the lawyer andeconomics expert.
Distinguish between different economic approaches todetermining economic damages.
Decide whether an economic expert is right for your case.
Scott Gilbert Calculating Damages
![Page 6: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/6.jpg)
Objectives
Explain the general circumstances in which lawyers useeconomics experts in their cases.
For personal injury cases, list circumstances in whicheconomics experts are useful.
Describe the working relationship between the lawyer andeconomics expert.
Distinguish between different economic approaches todetermining economic damages.
Decide whether an economic expert is right for your case.
Scott Gilbert Calculating Damages
![Page 7: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/7.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 8: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/8.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 9: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/9.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 10: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/10.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 11: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/11.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 12: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/12.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 13: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/13.jpg)
About Me
Scott Gilbert
Background
Ph.D. in economics, University of California San Diego
Bachelors in economics, University of California Berkeley
Tenured associate professor at Southern Illinois University
Previously at Federal Reserve Bank of San Francisco
Court Experience
Expert witness - Gilbert Economics (gilberteconomics.com)
Cases: personal injury, wrongful death, contract law, divorce
Courts: federal and state, Illinois, Missouri, Kentucky,Mississippi
Scott Gilbert Calculating Damages
![Page 14: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/14.jpg)
High-Stakes Cases
Key Elements
economic damages: $$$
risk averse lawyers
Role of the Economist
discovery, forensic economics
reduce risk to lawyers
Scott Gilbert Calculating Damages
![Page 15: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/15.jpg)
High-Stakes Cases
Key Elements
economic damages: $$$
risk averse lawyers
Role of the Economist
discovery, forensic economics
reduce risk to lawyers
Scott Gilbert Calculating Damages
![Page 16: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/16.jpg)
High-Stakes Cases
Key Elements
economic damages: $$$
risk averse lawyers
Role of the Economist
discovery, forensic economics
reduce risk to lawyers
Scott Gilbert Calculating Damages
![Page 17: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/17.jpg)
High-Stakes Cases
Key Elements
economic damages: $$$
risk averse lawyers
Role of the Economist
discovery, forensic economics
reduce risk to lawyers
Scott Gilbert Calculating Damages
![Page 18: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/18.jpg)
The Big Personal Injury Case
Economic Loss Elements
medical costs
earnings loss
household productivity loss
Role of the Economist
estimate the present value of future losses
reduce risk about jury’s findings
Scott Gilbert Calculating Damages
![Page 19: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/19.jpg)
The Big Personal Injury Case
Economic Loss Elements
medical costs
earnings loss
household productivity loss
Role of the Economist
estimate the present value of future losses
reduce risk about jury’s findings
Scott Gilbert Calculating Damages
![Page 20: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/20.jpg)
The Big Personal Injury Case
Economic Loss Elements
medical costs
earnings loss
household productivity loss
Role of the Economist
estimate the present value of future losses
reduce risk about jury’s findings
Scott Gilbert Calculating Damages
![Page 21: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/21.jpg)
The Big Personal Injury Case
Economic Loss Elements
medical costs
earnings loss
household productivity loss
Role of the Economist
estimate the present value of future losses
reduce risk about jury’s findings
Scott Gilbert Calculating Damages
![Page 22: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/22.jpg)
The Big Personal Injury Case
Economic Loss Elements
medical costs
earnings loss
household productivity loss
Role of the Economist
estimate the present value of future losses
reduce risk about jury’s findings
Scott Gilbert Calculating Damages
![Page 23: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/23.jpg)
You and the Forensic Economist
Working Together
fees
documents
discussion
report
testimony
Scott Gilbert Calculating Damages
![Page 24: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/24.jpg)
You and the Forensic Economist
Working Together
fees
documents
discussion
report
testimony
Scott Gilbert Calculating Damages
![Page 25: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/25.jpg)
You and the Forensic Economist
Working Together
fees
documents
discussion
report
testimony
Scott Gilbert Calculating Damages
![Page 26: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/26.jpg)
You and the Forensic Economist
Working Together
fees
documents
discussion
report
testimony
Scott Gilbert Calculating Damages
![Page 27: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/27.jpg)
You and the Forensic Economist
Working Together
fees
documents
discussion
report
testimony
Scott Gilbert Calculating Damages
![Page 28: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/28.jpg)
What Your Economist is Thinking
Ideas
make-whole principle
observed versus ”but-for” wellbeing
present values: observed minus ”but-for”
discount rate
market values
Scott Gilbert Calculating Damages
![Page 29: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/29.jpg)
What Your Economist is Thinking
Ideas
make-whole principle
observed versus ”but-for” wellbeing
present values: observed minus ”but-for”
discount rate
market values
Scott Gilbert Calculating Damages
![Page 30: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/30.jpg)
What Your Economist is Thinking
Ideas
make-whole principle
observed versus ”but-for” wellbeing
present values: observed minus ”but-for”
discount rate
market values
Scott Gilbert Calculating Damages
![Page 31: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/31.jpg)
What Your Economist is Thinking
Ideas
make-whole principle
observed versus ”but-for” wellbeing
present values: observed minus ”but-for”
discount rate
market values
Scott Gilbert Calculating Damages
![Page 32: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/32.jpg)
What Your Economist is Thinking
Ideas
make-whole principle
observed versus ”but-for” wellbeing
present values: observed minus ”but-for”
discount rate
market values
Scott Gilbert Calculating Damages
![Page 33: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/33.jpg)
Scientific Evidence
Standards, Rules, Precedent
Frye standard
Daubert standard
Federal Rules of Evidence (702)
Jones & Laughlin Steel Corp. v. Pfeifer, 103 S. Ct 2541 (1983)
Reference Manual on Scientific Evidence
Scott Gilbert Calculating Damages
![Page 34: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/34.jpg)
Scientific Evidence
Standards, Rules, Precedent
Frye standard
Daubert standard
Federal Rules of Evidence (702)
Jones & Laughlin Steel Corp. v. Pfeifer, 103 S. Ct 2541 (1983)
Reference Manual on Scientific Evidence
Scott Gilbert Calculating Damages
![Page 35: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/35.jpg)
Scientific Evidence
Standards, Rules, Precedent
Frye standard
Daubert standard
Federal Rules of Evidence (702)
Jones & Laughlin Steel Corp. v. Pfeifer, 103 S. Ct 2541 (1983)
Reference Manual on Scientific Evidence
Scott Gilbert Calculating Damages
![Page 36: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/36.jpg)
Scientific Evidence
Standards, Rules, Precedent
Frye standard
Daubert standard
Federal Rules of Evidence (702)
Jones & Laughlin Steel Corp. v. Pfeifer, 103 S. Ct 2541 (1983)
Reference Manual on Scientific Evidence
Scott Gilbert Calculating Damages
![Page 37: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/37.jpg)
Scientific Evidence
Standards, Rules, Precedent
Frye standard
Daubert standard
Federal Rules of Evidence (702)
Jones & Laughlin Steel Corp. v. Pfeifer, 103 S. Ct 2541 (1983)
Reference Manual on Scientific Evidence
Scott Gilbert Calculating Damages
![Page 38: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/38.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 39: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/39.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 40: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/40.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 41: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/41.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 42: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/42.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 43: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/43.jpg)
Is an Economics Expert Right for your Case?
Checklist
Do I have a “high-stakes” case?
Do I face significant risk, in terms of jury award of economicdamages?
Do I know how to find a good economics expert?
Can I afford several $1, 000s for such an expert?
Can I work effectively with an economics expert?
If yes to all of the above, then hire an econ. expert.
Scott Gilbert Calculating Damages
![Page 44: Iicle slides gilbert](https://reader034.vdocuments.net/reader034/viewer/2022042716/55b59c88bb61eb0d418b4637/html5/thumbnails/44.jpg)
Questions
?
Scott Gilbert Calculating Damages