Awards for future damages are discounted to reflect present value — that is, lump-sum awards can generate interest over time, so awards are discounted to account for the “time” value of money. The question is: how much money must be provided today in order to yield (through a safe investment) what the plaintiff will need in

Recently, economists at the Center for Forensic Economic Studies have been asked to analyze improbable damages claims made in matters involving identity theft (misappropriation of credit-card numbers or other personal financial information). These claims are for damage to “inherent credit reputation.” Exactly what “inherent credit reputation” is, how it is damaged, and how it is

By Jerome M. Staller, Ph.D. A recent opinion, Elcock v. Kmart Corp., 3rd Cir. no. 98-7472 (Oct. 10, 2000), stands as a good example of the difficulties courts now face in applying Daubert standards of admissibility to non-scientific testimony. Under Kumho Tire Co. v. Carmichael, 526 U.S. 137, 119 S.Ct. 1167 (1999), courts are now

by Jerome M. Staller, Ph.D. The “lost chance” theory of recovery is steadily gaining ground in medical malpractice cases involving reduced life expectancy or increased risk of future harm, and also in employment matters. Under the lost-chance theory, a claimant’s recovery is limited by the odds or likelihood that an event would have occurred but

by Jerome M. Staller, Ph.D. The U.S. District Court for the District of Delaware has held that an economist may testify on the probable date of retirement of the plaintiff in an Age Discrimination in Employment Act matter. Finch v. Hercules Inc., 941 F.Supp. 1395 (1996). The plaintiff sued his former employer under the ADEA,

By Jerome M. Staller, Ph.D. I began offering my services as an expert economist more than 25 years ago and have testified in literally thousands of cases. This experience qualifies me, I hope, as an expert in the use of experts, especially the use of expert economists. Here, I offer a few insights I have