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The United States and European countries have for a long time affirmed non-pecuniary loss as a proper title of damages. On both sides of the Atlantic in the preceding…
The United States and European countries have for a long time affirmed non-pecuniary loss as a proper title of damages. On both sides of the Atlantic in the preceding decades, we have witnessed an escalation in the monetary amounts awarded for the non-pecuniary component of damages in cases of personal injury.1 As a result of this escalation, the countries referred to have embarked on a shrill debate in trying to decipher a definition of their concrete notions of non-pecuniary damages2 and on their awarding methods.3
This collection of original papers had its origin in a series of annual meetings of the National Association of Forensic Economics (NAFE) held in Great Britain, Ireland…
This collection of original papers had its origin in a series of annual meetings of the National Association of Forensic Economics (NAFE) held in Great Britain, Ireland, Italy, and the United States from 2004 to 2008.1 NAFE sponsored these meetings to explore common research areas in the calculation of damages in personal injury and death litigation in Western Europe and the United States. NAFE was founded in 1986 and is the largest association of economists and other damages experts specializing in the calculation of economic damages in litigation in the United States and Canada. The Journal of Forensic Economics (JFE) is the journal of NAFE and has been the primary outlet of peer-reviewed research in forensic economics over the past 22 years. The field of forensic economics has generated a substantial literature on methodologies and empirical research in the calculation of damages in personal injury, death, employment, and commercial litigation; and the use of that literature in the United States and Canadian courts by economists, Certified Public Accounts (CPAs), and actuaries has become commonplace in the past two decades (Thornton & Ward, 1999).2
Gary R. Albrecht, Ph.D., North Carolina is an economist at Albrecht Economics located in Winston-Salem. He specializes in economic forecasting and forensic economics. He has been an Assistant and Adjunct Associate Professor at Wake Forest University, and he was the Director of Econometric Modeling at the University of Kansas. He is a past vice president of the National Association of Forensic Economics. His research has been published in the Journal of Forensic Economics, Journal of Legal Economics, Trial Briefs, and The Earnings Analyst, in addition to his authoring various economic research reports and book chapters. He holds a Ph.D. degree in Economics from Indiana University.