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The Economist in Tort Litigation

Author

Listed:
  • Robert Thornton
  • John Ward

Abstract

In recent decades, the involvement of economists as consultants and expert witnesses in civil tort actions has grown rapidly. In this article, the authors discuss the reasons for this phenomenon and the extent to conflicts of interest to arise in the practice of what is frequently called 'forensic economics.' They argue that, although conflict-of-interest pressures exist, the limited evidence does not indicate that unethical practices are rampant within the profession. Moreover, market correctives, judicial screening, codes of ethical behavior, and the dissemination of knowledge concerning proper forensic practice help to serve as (arguably imperfect) safeguards against unethical practice.

Suggested Citation

  • Robert Thornton & John Ward, 1999. "The Economist in Tort Litigation," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 101-112, Spring.
    • Handle: RePEc:aea:jecper:v:13:y:1999:i:2:p:101-112
    Note: DOI: 10.1257/jep.13.2.101
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    File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.2.101
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    References listed on IDEAS

    as
    1. Pauline Fox, 1991. "The Economic Expert in Wrongful Death/Personal Injury Cases: Workable Competition or Monopoly Power?," Journal of Forensic Economics, National Association of Forensic Economics, vol. 4(3), pages 255-262, September.
    2. Ralph R. Frasca & Bernard J. Winger, 1989. "An Investigation into the Nelson Median and the Mean Age at Final Separation from the Labor Force," Journal of Forensic Economics, National Association of Forensic Economics, vol. 2(3), pages 103-114, August.
    3. Walter D. Johnson, 1991. "Qualifications, Ethics and Professional Responsibility in Forensic Economics," Journal of Forensic Economics, National Association of Forensic Economics, vol. 4(3), pages 277-285, September.
    4. Rodgers, J.D. & Thornton, R.J., 1995. "Making Operational the Concept of Maintenance Consumption," Papers 11-95-15, Pennsylvania State - Department of Economics.
    5. Thomas R. Ireland, 1997. "The Daubert Decision And Forensic Economics," Journal of Forensic Economics, National Association of Forensic Economics, vol. 10(2), pages 121-126, April.
    6. Thomas R. Ireland & Walter D. Johnson & Paul C. Taylor, 1997. "Economic Science And Hedonic Damage Analysis In Light Of Daubert V. Merrell Dow," Journal of Forensic Economics, National Association of Forensic Economics, vol. 10(2), pages 139-156, April.
    7. Francis J. Colella & Walter D. Johnson & Frank D. Tinari, 1995. "Attorney Perspectives On The Use Of Economic Experts: Survey Results," Journal of Forensic Economics, National Association of Forensic Economics, vol. 8(1), pages 13-23, December.
    8. Walter D. Johnson, 1995. "Ethics In Forensic Economics: A Reply To Depperschmidt," Journal of Forensic Economics, National Association of Forensic Economics, vol. 8(3), pages 289-291, September.
    9. Stephen T. Riley, 1989. "The Economic Consultant in Forensic Economics," Journal of Forensic Economics, National Association of Forensic Economics, vol. 2(3), pages 1-17, August.
    10. Thomas O. Depperschmidt, 1994. "Ethics In Forensic Economics: Evidence And Remedy Issues," Journal of Forensic Economics, National Association of Forensic Economics, vol. 7(2), pages 159-169, April.
    11. Edward L. Sattler, 1991. "Economists, Ethics, and the Marketplace," Journal of Forensic Economics, National Association of Forensic Economics, vol. 4(3), pages 263-268, September.
    12. Michael J. Piette, 1991. "Codes of Professional Ethics for Forensic Economists: Problems and Prospects," Journal of Forensic Economics, National Association of Forensic Economics, vol. 4(3), pages 269-276, September.
    13. John Adams & Michael Brookshire & Frank Slesnick, 1993. "1993 Survey: Qualifications, Ethics, and Procedures for Forensic Economics Practitioners," Journal of Forensic Economics, National Association of Forensic Economics, vol. 7(1), pages 1-24, December.
    14. Thomas O. Depperschmidt, 1997. "The Impact Of The Daubert Decision On Forensic Economists," Journal of Forensic Economics, National Association of Forensic Economics, vol. 10(2), pages 127-137, April.
    15. Michael Brookshire & Frank Slesnick & Robert Lessne, 1990. "The Emerging Industry of Forensic Economics: A Survey of NAFE Members," Journal of Forensic Economics, National Association of Forensic Economics, vol. 3(2), pages 15-29, April.
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    Citations

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    Cited by:

    1. Yves Oytana & Nathalie Chappe, 2018. "Expert opinion in a tort litigation game," European Journal of Law and Economics, Springer, vol. 46(1), pages 67-107, August.
    2. Winand Emons, 2005. "Perjury versus Truth Revelation: Quantity or Quality of Testimony," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 161(3), pages 392-410, September.
    3. Robert Cooter & Winand Emons, 2004. "Truth-Bonding and Other Truth-Revealing Mechanisms for Courts," European Journal of Law and Economics, Springer, vol. 17(3), pages 307-327, May.
    4. Maarten Pieter Schinkel, 2008. "Forensic Economics In Competition Law Enforcement," Journal of Competition Law and Economics, Oxford University Press, vol. 4(1), pages 1-30.
    5. Alison F. Del Rossi & Joni Hersch, 2020. "Gender And The Consulting Academic Economist," Economic Inquiry, Western Economic Association International, vol. 58(3), pages 1200-1216, July.
    6. Bruno S. Frey, 2000. "Was Bewirkt die Volkswirtschaftslehre?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 1(1), pages 5-33, February.
    7. Robert Cooter & Winand Emons, 2003. "Truth-Revealing Mechanisms for Courts," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(2), pages 259-279, June.
    8. Cooter, Robert D. & Emons, Winand, 2001. "Truth-Bonding and Other Truth-Revealing Mechanisms for Courts [technical version]," Berkeley Olin Program in Law & Economics, Working Paper Series qt3587v9sv, Berkeley Olin Program in Law & Economics.
    9. Yee, Kenton K., 2008. "Dueling experts and imperfect verification," International Review of Law and Economics, Elsevier, vol. 28(4), pages 246-255, December.

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    More about this item

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General

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