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Reference Manual on Scientific Evidence
Hedonic Wage Equilibrium
Author: Thomas J. Kniesner
Publisher: Now Publishers Inc
Published: 2010
Total Pages: 83
ISBN-13: 1601983700
DOWNLOAD EBOOK →Hedonic Wage Equilibrium examines empirically and theoretically the properties of the equilibrium wage function.
Determining Economic Damages
Pricing Lives
Author: W. Kip Viscusi
Publisher: Princeton University Press
Published: 2020-10-06
Total Pages: 289
ISBN-13: 069120859X
DOWNLOAD EBOOK →How society’s undervaluing of life puts all of us at risk—and the groundbreaking economic measure that can fix it Like it or not, sometimes we need to put a monetary value on people's lives. In the past, government agencies used the financial "cost of death" to monetize the mortality risks of regulatory policies, but this method vastly undervalued life. Pricing Lives tells the story of how the government came to adopt an altogether different approach--the value of a statistical life, or VSL—and persuasively shows how its more widespread use could create a safer and more equitable society for everyone. In the 1980s, W. Kip Viscusi used the method to demonstrate that the benefits of requiring businesses to label hazardous chemicals immensely outweighed the costs. VSL is the risk-reward trade-off that people make about their health when considering risky job choices. With it, Viscusi calculated how much more money workers would demand to take on hazardous jobs, boosting calculated benefits by an order of magnitude. His current estimate of the value of a statistical life is $10 million. In this book, Viscusi provides a comprehensive look at all aspects of economic and policy efforts to price lives, including controversial topics such as whether older people's lives are worth less and richer people's lives are worth more. He explains why corporations need to abandon the misguided cost-of-death approach, how the courts can profit from increased application of VSL in assessing liability and setting damages, and how other countries consistently undervalue risks to life. Pricing Lives proposes sensible economic guideposts to foster more protective policies and greater levels of safety in the United States and throughout the world.
Economic Losses from Marine Pollution
Author: Douglas D. Ofiara
Publisher: Island Press
Published: 2001-05
Total Pages: 412
ISBN-13: 9781597263474
DOWNLOAD EBOOK →Marine pollution causes significant damage to fisheries and other economically productive uses of the ocean. The value of that damage can be quantified by economists, but the meanings of those valuations and how they are derived are often obscure to noneconomists.Economic Losses from Marine Pollution brings a fuller understanding of the variety and extent of marine losses and how they are assessed to scientists, lawyers, and environmentalists by systematically identifying and classifying marine losses and relating them to models and methods of economic valuation. The authors use a step-by-step approach to show how economists have used these methods and how they approach the problem of assessing economic damage.The book begins by describing the importance of economic valuation of marine damages, the history of concern over marine pollution, and the development of economic methodologies to assess damage from it. Following that, the book: considers types of marine pollution and their effects on organisms, ecosystems, and humans, and the corresponding economic effects of those biological impacts introduces the economic principles and methods needed to understand and to assess economic damages expresses losses from water quality impairments in terms of economic value introduces the basic economic techniques that have been developed and used to measure changes in economic value discusses how to apply those economic techniques, and presents a variety of practical examples explores limitations and problems that can arise in such applied work.Economic Losses from Marine Pollution includes all of the relevant economic theory together with specific examples of how that theory has been and can be applied. It offers environmental professionals with little or no background in economics the basic economic tools needed to understand economic valuations of environmental damage, and represents a unique handbook for environmental and marine scientists, lawyers, economists, policy professionals, and anyone interested in issues of marine water quality.
The New Hedonics Primer for Economists and Attorneys
Author: John O. Ward
Publisher: Lawyers and Judges Publishing
Published: 1996
Total Pages: 547
ISBN-13: 9780913875520
DOWNLOAD EBOOK →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 as well as individual state cases and mandates on this type of economic expert testimony.
Forensic Economics
Author: Frank D. Tinari
Publisher: Springer
Published: 2016-12-01
Total Pages: 331
ISBN-13: 1137563923
DOWNLOAD EBOOK →This edited collection addresses the major issues encountered in the calculation of economic damages to individuals in civil litigation. In federal and state courts in the United States, as well as in other nations, when one party sues another, the suing party is required not only to prove that the harm was, indeed, caused by the other party, but also to claim and demonstrate that a specified dollar value represents just compensation for the harm. Forensic economists are often called upon to evaluate, measure, and opine on the degree of economic loss that is alleged to have occurred. Aimed at both practitioners and theorists, the original articles and essays in the edited collection are written by nationally recognized and widely published forensic experts. Its strength is in showcasing theories, methods, and measurements as they differ in a variety of cases, and in its review of the forensic economics literature developed over the past thirty years. Readers will find informative discussions of topics such as establishing earnings capacity for both adults and infants, worklife probability, personal consumption deductions, taxation as treated in federal and state courts, valuing fringe benefits, discounting theory and practice, the effects of the Affordable Care Act, the valuation of personal services, wrongful discharge, hedonics, effective communication by the expert witness, and ethical issues. The volume also covers surveys of the views of practicing forensic economists, the connection between law and forensic economics, alternatives to litigation in the form of VCF-like schedules, and key differences among nations in measuring economic damages.
Medical Care Output and Productivity
Author: David M. Cutler
Publisher: University of Chicago Press
Published: 2007-12-01
Total Pages: 627
ISBN-13: 0226132307
DOWNLOAD EBOOK →With the United States and other developed nations spending as much as 14 percent of their GDP on medical care, economists and policy analysts are asking what these countries are getting in return. Yet it remains frustrating and difficult to measure the productivity of the medical care service industries. This volume takes aim at that problem, while taking stock of where we are in our attempts to solve it. Much of this analysis focuses on the capacity to measure the value of technological change and other health care innovations. A key finding suggests that growth in health care spending has coincided with an increase in products and services that together reduce mortality rates and promote additional health gains. Concerns over the apparent increase in unit prices of medical care may thus understate positive impacts on consumer welfare. When appropriately adjusted for such quality improvements, health care prices may actually have fallen. Provocative and compelling, this volume not only clarifies one of the more nebulous issues in health care analysis, but in so doing addresses an area of pressing public policy concern.
Hedonic Utility, Loss Aversion and Moral Hazard
Author: Emil P. Iantchev
Publisher: Now Publishers Inc
Published: 2010
Total Pages: 60
ISBN-13: 1601983921
DOWNLOAD EBOOK →Hedonic Utility, Loss Aversion and Moral Hazard summarizes recent advances in the modeling and measurement of hedonic utility.
