Economic experts are valuable resources for both plaintiff and defense attorneys in presenting the facts of the case. An effective economic expert can testify, provide litigation support, and educate you on the economic issues of your case.
With caps on non-economic damages, the economic damages have become even more important. An economic expert can help you help your clients by:
- Estimating future damages, discounted to today’s dollars;
- Calculating economic losses, including wages, profits, benefits, stock options, household services, and future medical costs;
- Appropriately adjusting for personal consumption or taxes;
- Critiquing your opponent’s expert report;
- Focusing on the magnitude of damages as an important part of your case strategy.
Economists can identify and measure past and future economic losses in the following: