An Agenda for Future Research in Forensic Economics: New Approaches to Viewing Controversial Topics

Despite a large body of published research in forensic economics, there are still controversial topics that are lacking consensus. This paper presents an agenda for research on controversial topics in the hope that the results of such research will improve the reliability and validity of the work of forensic economists. Specifically, the paper presents suggestions for research on the choice of interest rates for discounting; interest rates, earnings growth and inflation; interest rates, growth in medical costs and inflation; how many years of earnings history is necessary to project base earnings and earnings history; alternative approaches to hedonic damages; and punitive damages.

An Agenda for Future Research in Forensic Economics: Topics from NAFE Surveys and Additional Proposals

This paper provides suggestions for future research by forensic economists, focused upon personal injury and wrongful death cases. The paper is particially based on questions from our 10 surveys of NAFE members over 25 years, in which members were directly asked to rank future areas of forensic economic research in importance. We discuss answers to important questions where there is little or no consensus among respondents, and where consensus is reasonably clear, as this may influence topics chosen for future research. We also discuss research topics by drawing on our own experience as forensic economists.

An Agenda for Future Research in Forensic Economics: Setting Standards of Validity and Reliability in Measuring Progress

While considerable progress in research in the field of Forensic Economics has been achieved over the past 35 years, a number of areas of need for further research persist. This paper provides an overview of the scope of research in the field and the critiques of that research gathered through member surveys, submissions by journal editors, and publications of Richard Posner and the author.

Theoretical and methodological foundations of forensic economics

In modern conditions, the need to increase efficiency of forensic expert activity in economic field depends on development of theoretical and methodological base of forensic economics, interpretation of this economic and legal category in legislative field and determination of the system-forming factor of totality of forensic examinations. While systematizing scientific content, the main key issues related to theoretical development foundations of this type of forensic science are considered. The key informative informational blocks of forensic economics are highlighted: the first block is procedural nature of forensic examination assignment and conducting; second block is the use of specific expertise in the field of economics; third block is the topic of forensic economic examination; fourth block is the purpose of the results of economic research. An attempt has been made to improve interpretation of forensic economics as an economic andlegal category, as well as to substantiate its classification on the basis of dividing social production into material and non-material fields that are studied by the corresponding economic sciences. Thanks to the use of dialectical method, it is substantiated that solution to this methodological issue lies in the field of material production. Consideration of the relations between the economy and other fields of social activity demonstrated that economy is primary that allowed, as a result of the division of social production into the field of material production (material goods and material services; object of economic relations has a materialized form) and intangible production (intangible goods and intangible services; object economic relations has a non-material form) to determine the system-forming factor of various types of forensic economic examinations.

Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of Maryland

This article is one in the Journal of Forensic Economics series providing experts with information about how to prepare and testify about economic damages in personal injury and wrongful death cases in the state of Maryland.1 Topics covered include a review of the Maryland state court system, rules regarding expert testimony, and wrongful death and personal injury economic damages calculations. An Appendix contains the relevant statutes.

Update to Assessing Economic Damages in Personal Injury and Wrongful Death Litigation: The State of California

This article is designed to update the original article that appeared in the Journal of Forensic Economics, 17:3 (2004). The article discusses a change in procedure for expert discovery and deposition and five substantive changes and clarifications affecting the legal guidance for valuation of damages in personal injury and wrongful death cases in California.

Worklife Expectancies of Railroad Workers Based on the Twenty-Seventh Actuarial Valuation Using Competing Risks/Multiple Decrement Theory and the Markov Railroad Model

This paper contains worklife expectancies (WLE) of railroad workers based on the Twenty-Seventh Actuarial Valuation (Bureau of the Actuary, 2018), thereby updating the previous study of railroad workers' WLE based on the Twenty-Fifth Actuarial Valuation (Bureau of the Actuary, 2012). The main results of this paper are shown in a set of tables.11The tables in this paper provide worklife expectancies and standard deviations for every five years of service and five years of age and are referred to as abridged tables. Readers may interpolate as appropriate—e.g., a 23-year-old railroader would have a 60%/40% weighted average between the age 25 and age 20 entries. In addition, a more accurate calculation is available. The Association of American Railroads has requested that we provide it with complete unabridged tables that may be distributed to its members and posted on its web site. We have done so under a contract with the Association of American Railroads, which provides that those unabridged tables may be posted on the Journal of Forensic Economics web site. They appear there as supplemental materials to this paper, along with other supplemental content which includes Excel worksheets and additional statistical characteristics.

A Synthesis of Non-Fraud Forensic Accounting Research

We synthesize literature and courtroom opinions related to non-fraud forensic accounting topics to better understand the nature and extent of relevant works, and to highlight areas where there is a need for future research. We approach this by summarizing literature from accounting, forensic economics, valuation, and legal sources; where appropriate, we supplement with courtroom opinions. We concentrate on non-fraud forensic accounting issues relevant to academics and practitioners in several areas, including the forensic accountant as the expert witness, valuation, individual damages (sometimes referred to as forensic economics), and commercial damages: lost profits. We discuss prior research findings and court opinions related to qualifications, work product, and communication skills of forensic accountants required to complete the work to a reasonable degree of scientific certainty. We close with a discussion of emerging technologies and the need for critical examination of how such technologies are likely to impact forensic accounting.