Economist Expert Witness Services

About Economic Expert Witness Services

In addition to serving as expert witnesses, these financial professionals can advise and report on economic damages. Examples of their key functions include:

• Damage calculations: They help attorneys determine the appropriate amount of damages to pursue in cases involving lawsuits or settlements.
• Profit loss analysis: In situations involving potential earnings losses for businesses due to financial wrongdoings, the expert can accurately project the correct amount of these unrealized profits.
• Business valuation: The expert can determine the value of the entities involved in a merger or acquisition transaction or when resolving disputes among shareholders.
• Mitigation: An economist can explore whether the affected party implemented the appropriate cost-cutting strategies to mitigate their financial losses.

Regardless of the function, an expert witness can bring more credibility to an attorney’s estimates, increasing the likelihood of a favorable outcome. The witness can also educate the court, jurors and other involved parties by clarifying complex financial issues.

Areas Where an Economist Can Help

An economic damages expert witness can provide valued support in several legal areas:

• Personal injury: The expert can quantify the amounts requested in personal injury liability situations involving significant financial losses, such as medical expenses, lost wages and future earnings potential.
• Wrongful death: Economist witnesses can determine the value of economic losses incurred by the deceased’s dependents.
• Insurance: An expert witness can help assess the appropriate economic damages, such as property damage, loss of income and medical bills, during insurance claim disputes.
• Employment litigation: The witness can calculate damages in disputes between employers and employees involving wrongful termination, wage discrepancies and discrimination.
• Business litigation: Economist experts can assess financial losses that may arise during conflicts between business parties, such as breach of contract, business interruption claims and intellectual property disputes.