New Hedonics Primer for Economists and Attorneys, Second Edition

Author: John O. Ward, Thomas R. Ireland ISBN 10: 0-913875-52-X ISBN 13: 978-0-913875-52-0 Copyright Date Ed: July 31, 1992 Pages: 547 pages Binding Information: Hardcover Size: 6 ✕ 9 Inches (US) This book provides accurate and up-to-date information about the "hedonic damage" concept. The hedonic damage concept has been used to introduce testimony from economic experts on loss of the enjoyment of life in both wrongful death and personal injury litigation. It has also recently been used to introduce testimony about "loss of society" to survivors of decedents. All of these developments are presented in a balanced format that includes papers defining, supporting, opposing and proposing alternatives to the "hedonic damage" concept in all of its applications. It also considers the impact of the 1993 Daubert v. Merrell Dow mandates of the U.S. Supreme Court on the future of this type of economic expert testimony. In the past four years, a number of states have spoken on whether "hedonic damage" testimony will be permitted. A number of major cases are presented or discussed in this book. Unlike the original A Hedonics Primer for Economists and Attorneys, this book is focused on controversies that exist within each possible use of the testimony. Several major articles have been retained from the original Primer, but most of the materials contained in the New Primer are included for the first time. In addition to updated case analysis, the book contains sample case development and other tools of importance to practitioners. The book has been compiled and edited by John O. Ward and Thomas R. Ireland, managing editor and one of the associate editors of the Journal of Forensic Economics, respectively. The two fall on opposite sides of the "hedonic damages" controversy and both clearly present their own approaches and views. Topics covered: Introduction What are hedonic damages? Hedonic damages in death analysis Hedonic damages in personal injury analysis Hedonic damage and loss of society analysis Hedonic damages and case law Development of trial documents This book is also available as an E-book. Click here to purchase and download: Table of Contents Part I: Introduction Reading 1: Introduction to the New Hedonics Primer for Economist and Attorneys John O. Ward Reading 2: What Is "New" in the New Hedonics Primer Thomas R. Ireland Part II: What Are Hedonic Damages? Reading 3: Hedonic Damages in Personal Injury and Wrongful Death Litigation Stan V. Smith Reading 4: "Hedonic Damages" and Alternatives to Hedonic Damages in Tort Litigation: An Explanation of Terms Thomas R. Ireland Reading 5: The Value of Life: Has Voodoo Economics Come to the Courts? W. Kip Viscusi Reading 6: The Econometric Basis for Estimates of the Value of Life W. Kip Viscusi Reading 7: The Plausible Range for the Value of Life--Red Herrings Among the Mackerel Ted R. Miller Reading 8: Assuming the Can Opener: Hedonic Wage Estimates and the Value of Life William T. Dickens Reading 9: The Value of Life Thomas Schelling Reading 10: The Value of Risks to Life and Health W. Kip Viscusi Reading 11: Economic Valuation of Life: A Cumulative Approach Kurt V. Krueger, John O. Ward and Gary R. Albrecht Part III: Hedonic Damages in Death Analysis Reading 12: The Relevance of Willingness-to-Pay Estimates of the Value of a Statistical Life in Determining Wrongful Death Awards Lauraine G. Chestnut and Daniel M. Violette Reading 13: Why Hedonic Measures Are Irrelevant to Wrongful Death Litigation Thomas R. Ireland, Walter D. Johnson, and James D. Rodgers Reading 14: Issues Affecting the Calculated Value of Life Gary R. Albrecht Reading 15: Hedonic Damages in Wrongful: Death/Survival Actions: Equitable Compensation or Optimal Life Protection? Thomas R. Ireland and James D. Rodgers Reading 16: The Utility of Death and Wrongful Death Compensation William E. Becker and Richard A. Stout Reading 17; Consequences of Damage Awards for Hedonic and Other Nonpecuniary Losses Paul H. Rubin and John E. Calfee Reading 18: The Misapplication of the Hedonic Damages Concept to Wrongful Death and Personal Injury Litigation Thomas Havrilesky Reading 19: The Application of the Hedonic Damages Concept to Wrongful Death and Personal Injury Litigation Gary R. Albrecht Reading 20: The Persistent Misapplication of the "Hedonic Damages" Concept to Wrongful Death and Personal Injury Litigation Thomas Havrilesky Reading 21: In Defense of the Application of Hedonic Models to Wrongful Death and Personal Injury Litigation Roy F. Gilbert Reading 22: A Comment on the Use of Value of Life Estimates in Wrongful Death Litigation James Ciecka and Seth Epstein Reading 23: A Comment on the Use of Value of Life Estimates in Wrongful Death Litigation: A Reply Roy F. Gilbert Reading 24: The Demand for Life Protection: The Hedonic Controversy from a Median Voter Perspective Thomas R. Ireland Part IV: Hedonic Damages in Personal Injury Analysis Reading 25: Hedonic Damages and Personal Injury: A Conceptual Approach Edward P. Berla, Michael L. Brookshire and Stan V. Smith Reading 26: Appraisal of the Psychological, and Economic Impacts of Disability on William Likes The Institute of Disability Appraisal, Inc. Reading 27: "Hedonic" Estimates in Personal Injury Analysis: Differences from Wrongful Death Analysis Thomas R. Ireland Reading 28: Rethinking the Value of Lost Health Rodney Fort and Robert Rosenman Reading 29: The Cost of Substitute Consumption Activities: A Better Alternative than Hedonic Damages James L. Plummer Reading 30; The Cost of Substitution Consumption Activities: A Comment Thomas R. Ireland Part V: Hedonic Damage and Loss of Society Analysis Reading 31: The Value of Life to Close Family Members: Calculating the Loss of Society and Companionship Stan V. Smith Reading 32: Estimating the Value of Companionship and Consortium Thomas Havrilesky Reading 33: The Value of Emotional Services Gerald W. Olson Reading 34: Problems with Relational Loss Valuation James D. Rodgers Part VI: Hedonic Damages and Case Law Reading 35: A Review of Case Law John Ward Reading 36: Opinion of Judge Cummings in Sherrod v. Berry (Illinois) Reading 37: Reliability and Validity of Hedonic Damage Testimony: Judicial Logic about Economic Science in Merrell Dow and Mercado Parker Cashdollar and Marsha Cope Huie Reading 38: Opinion of Justice Miller‹Wilt vs. Burracker (West Virginia) Reading 39: Partial Text of Justice Franchini's Opinion in Romero vs. Byers with Introductory Commentary Reading 40: Opinion of Justice Shadur in Ayers v. Robinson (Illinois) Part VII: Development of Trial Documents Reading 41: Case Documents for William Likes and Donna Likes vs. Lawyer Trucking, Inc. and Jeffrey Eldredge Circuit Court of Jackson County, Missouri, at Independence, April 7, 1994 Contributors Index