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Total Worklife Expectancy

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  • Kurt V. Krueger
  • Frank Slesnick

Abstract

This paper appends the standard Markov increment-decrement worklife expectancy model used in forensic economics to measure the years that people perform the non-market work of taking care of their homes or families. We find that adding non-market working years to the worklife model nearly equalizes men and women's estimated lifetime total working years. The paper begins with the gender-related problems of solely using labor force worklife tables as a tort compensation determinant. We then present demographic characteristics of persons that perform full-time, non-market work. A Markov life table model that incorporates two work activities (market and non-market work) is specified—we name the sum of market and non-market working years “total worklife expectancy.” Ending the paper are examples of using total worklife expectancy as a tort compensation estimator.

Suggested Citation

  • Kurt V. Krueger & Frank Slesnick, 2014. "Total Worklife Expectancy," Journal of Forensic Economics, National Association of Forensic Economics, vol. 25(1), pages 51-70, April.
    • Handle: RePEc:fek:papers:doi:10.5085/jfe.25.1.51
    DOI: 10.5085/jfe.25.1.51
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    JEL classification:

    • K13 - Law and Economics - - Basic Areas of Law - - - Tort Law and Product Liability; Forensic Economics

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