K2 Economics
August 13, 2024
In wrongful termination cases in California, economic damages are essential to compensate plaintiffs for the financial losses caused by Defendants. These damages typically include lost wages, benefits, and other forms of compensation that the plaintiff would have received from their employer. A critical aspect of these cases is the plaintiff’s duty to mitigate damages by […]
Arsine Khayoyan
October 17, 2023
Since its establishment in 1975, the Medical Injury Compensation Reform Act (MICRA) has been a cornerstone of California’s legal landscape, particularly in the realm of medical malpractice litigation. At the heart of this legislation was a contentious $250,000 cap on non-economic damages, including pain and suffering. However, in 2022, California’s legal landscape witnessed a significant […]
Arsine Khayoyan
September 11, 2023
In the realm of forensic economics, calculating damages is a nuanced and intricate task. Forensic economists play a pivotal role in quantifying the economic impact of various factors in legal cases. Two primary methodologies employed in this field are the Nominal Rates Method and the Net Discount Rate Method. While both the Nominal Rates Method […]
Arsine Khayoyan
April 5, 2023
Medical inflation and the Consumer Price Index (CPI) have a long-standing relationship that has been of great concern for policymakers, healthcare providers, and consumers alike. Medical inflation refers to the increase in the cost of medical services and products over time, while the CPI is a measure of the average change in prices over time […]
K2 Economics
January 26, 2021
A fair-share of attorneys have told us that they went to law school to avoid doing math. While calculus and linear algebra are not important in securing a winning verdict, a basic understanding of interest rates and present value is crucial for all attorneys to understand. Courts require all future economic damages be discounted to […]
K2 Economics
January 16, 2021
In litigation, attorneys may demand economic damages, non-economic damages, and punitive damages. Economic damages include monetary losses from income and benefits, as well as medical expenses, property loss and so on. These are all areas where it is useful to designate an economist as an expert witness. Non-economic damages such as pain & suffering, loss […]
K2 Economics
September 25, 2018
When dealing with a personal injury or medical malpractice matter that results in a wrongful death, it is important to remove the personal consumption of the Decedent when calculating damages.  Indivisible expenses are not to be included as part of the Decedent’s personal consumption at all. When calculating personal consumption, it is important to take […]
K2 Economics
February 15, 2016
There are lawyers that often do not utilize the services of an expert economist, especially when the earnings portion of the case appears cut and dry. Instead, they choose to calculate the damages in-house in the interest of cutting costs. We are going to discuss a hypothetical personal injury case which seems to have a […]
