| Usual Opposition Position |
| The basic methodology for assessing loss of lifetime earnings has been
questioned either because it is not performed outside litigation or because it
was supposedly created by VEI. |
| VEI Position |
With reference to the assertion that the methodology is not used outside
litigation, damage calculations are not called for except within the context of
litigation. Damages are not calculated unless damages are
sought.
The model used in assessing
loss of lifetime earnings due to injury is very basic.
The model was not created by VEI, but is simply used by VEI in its
assessments in order to fulfill the needs of the court. Key elements used by all experts are as follows:
-
Lifetime earnings absent injury – this includes both how
much the plaintiff could have earned and how long the plaintiff could have
worked
-
Lifetime earnings with injury – this includes both how much the
plaintiff can earn and how long the plaintiff can be expected to work with
the injury
-
Present value assessment – this
includes the determination of appropriate wage growth and discount factors
A more complete explanation of
the basic VEI methodology can be found in the
Vocational
Economic Rationale that accompanies most assessments.
|
Last modified:
Tuesday November 29, 2011 04:11 PM
