Litigation Analytics, Inc. (LAI) has been involved in thousands of cases arising from all types of negligence or accidents, including those arising from aviation and other forms of transportation, medical malpractice, construction and products liability.
Since 1985, economists at LAI have applied the reliable principles and methods of labor economics and human capital to the analysis of economic damages in matters involving personal injury and death. Our work regularly brings us into contact with inappropriate applications of rules of thumb, or myths, disguised as economics. A sense of legitimacy is often sought by referring to these rules of thumb as “forensic economics,” suggesting this to be a separate field of economic science. This has motivated us to focus on education, contrasting the principles of mainstream economics with those myths often perpetrated in the courtroom in cases involving personal injury and wrongful death. It is simply not logical to address earnings and expenditures with one method in a court of law and another for all applications outside the courtroom.
In addition to providing information about Litigation Analytics, a second purpose of this site, therefore, is to provide information regarding the principles, methods and applications of real economics, along with examples of their legitimate application both in and out of the courtroom. The history, scope and stature of this area of economic science speak for themslves. Clearly, it is these principles and methods that economists must apply to matters of the court in serving as true forensic economists.
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