Vident Partners provides vetted economic damages expert witnesses for cases involving lost earnings calculations, business interruption losses, commercial damage quantification, and present value analysis in civil litigation. Request a referral today.
Find a Economic Damages Expert →Overview
Economic damages experts quantify financial losses in civil litigation. They calculate lost earnings, lost profits, diminished business value, increased costs, and other economic harm resulting from tortious conduct, breach of contract, or other legal wrongs. 1 Expert testimony on damages must satisfy the reliability and methodology standards of Federal Rule of Evidence 702 as interpreted under the Daubert framework, which requires the opinion to be based on sufficient facts, reliable principles, and a sound application of those principles to the case. 2 Damages calculations must demonstrate causation and meet the legal standard of reasonable certainty, a requirement addressed in AICPA Forensic and Valuation Services (FVS) practice guidance. 3 These experts are needed in virtually every personal injury and wrongful death case, as well as in commercial litigation, employment disputes, and insurance claims where the amount of economic loss must be established through expert testimony.
Federal Rule of Evidence 702 requires the proponent of expert testimony to demonstrate that the opinion is based on sufficient facts or data and is the product of reliable principles and methods.
Case Types
Personal injury and wrongful death economic loss calculation
Commercial litigation damage quantification
Business interruption loss analysis
Employment discrimination back pay and front pay calculation
Intellectual property infringement damages
Qualifications
Related Specialties
FAQ
The terms are often used interchangeably. Forensic economists typically focus on personal injury and wrongful death damages using labor economics methods. Economic damages experts may also quantify commercial losses, business interruption, and other financial harm. Some experts cover both areas while others specialize.
Economic damages experts are required in virtually every case involving financial loss, including personal injury, wrongful death, commercial litigation, employment disputes, intellectual property cases, and insurance claims. Any case where the amount of monetary damages must be established typically requires this type of expert.
In general, financial expert fees are determined by the expert themselves, based on a variety of criteria. Among those criteria are professional experience, forensic experience, professional certifications, industry specialization, and publications. Vident does have some influence over expert fees by comparing experts within a specialty, but ultimately it is a personal decision by the expert.
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Vident Partners connects attorneys with qualified economic damages expert witnesses. Complimentary consultation, 24-hour turnaround, no obligation.
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