Role of Economists in Car Accident Settlements

Economists analyze financial information and draft reports.

Economists determine financial losses arising out of car accidents. The plaintiff is the injured victim who has suffered economic damages in the form of lost earnings and impaired future earning capacity. Economists quantify the financial information on behalf of the plaintiff for purposes of a car accident settlement.

Financials

Economists analyze the plaintiff's financial documents and earnings statements in order to determine the lost earnings or profits to date, and what these projected figures will be in the future, should the car accident injuries become debilitating or permanent.

Report

The economist formulates the financial data into a formal report. This report typically includes relevant charts and graphs, the plaintiff's anticipated "work life" eligibility and the calculations utilized for her conclusions.

Testimony

The economist may testify about the conclusions regarding the financial data, in exchange for a fee. The economist must also prove his qualifications, and withstand questions under cross examination by the defense.

References

• The 'Lectric Law Library: Economists as Expert Witnesses
• Center for Continuing Education: Economic Analysis in Personal Injury Cases
• Page Rank Studio: Forensic Economist Job Description