Series editor(s): Professor Robert Thornton, Professor J. Richard Aronson
Subject Area: Economics
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|Title:||International data and the forensic economist: A guide to sources and uses|
|Author(s):||Michael J. Piette, David R. Williams|
|Volume:||91 Editor(s): John O. Ward, Robert J. Thornton ISBN: 978-1-84855-302-6 eISBN: 978-1-84855-303-3|
|Citation:||Michael J. Piette, David R. Williams (2009), International data and the forensic economist: A guide to sources and uses, in John O. Ward, Robert J. Thornton (ed.) Personal Injury and Wrongful Death Damages Calculations: Transatlantic Dialogue (Contemporary Studies in Economic and Financial Analysis, Volume 91), Emerald Group Publishing Limited, pp.309-320|
|DOI:||10.1108/S1569-3759(2009)0000091016 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Article type:||Chapter Item|
Forensic economists are often asked to calculate economic damages in cases that are tried in the United States but involve the death or injury of a citizen or resident of a foreign country. Commonly called international cases, they can range from a single tourist who is killed or injured while visiting the United States to mass torts such as plane crashes or product liability claims. The single plaintiff cases are typically relegated to state courts, whereas the Federal District Courts are often deemed to have jurisdiction over the determination of liability and subsequent economic damages in mass torts. In these and other types of international cases, macroeconomic data compiled by various governmental or private sources within the United States are of very limited use to the forensic economist preparing economic loss estimates. The decedent or injured party's economic, demographic, and social environment will in all likelihood differ significantly from individuals living in the United States. Rather, they are impacted by the macroeconomic conditions of their country of domicile or residence.
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