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How does a legal team go about calculating the full amount of losses and damages for someone who suffers a catastrophic injury? There’s so much more to it than lost wages and trying to get a grasp on the full picture can be incredibly difficult. That’s where a forensic economist like Dr. Craig Galbraith comes in and he’s with us again to continue this conversation about economic losses.

This part of the discussion focuses on the intricacies of mitigation, the challenges of quantifying lost future income, and the importance of considering household services. Learn how forensic economists use tools like the workability index and vocational rehab assessments to estimate financial impacts and explore the often-overlooked economic value of household production services.

This episode is a must-listen for anyone interested in the intersection of law and economics. It provides a fascinating look at the tools and methods used by forensic economists to quantify the financial impact of personal injuries.

Here’s some of what we discuss in this episode:

0:00 – The idea of mitigation

1:21 – Survey called workability index

4:08 – Calculating lost wages

8:07 – Factoring in promotions and raises

11:15 – Household services

13:22 – Health deterioration

About our guest:
https://csbapp.uncw.edu/data/fs/vita.aspx?id=17127

https://galbraithforensic.com/

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