Calculating compensation in cases of wrongful death
Death statutes in the United States list elements of loss for which a defendant must make compensatory payment. The element that economists as expert witnesses are called upon to calculate is net income, roughly defined as the decedent's income minus personal expenses. The existence of joint or shared consumption goods complicates the definition and calculation of net income. Net income can be interpreted as the money required for survivors to attain the same standard of living as before. Equivalence scales traditionally used for this type of calculation are flawed. A new method for calculating net income is proposed, based on a collective household model.
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- Martin Browning & Pierre-André Chiappori & Arthur Lewbel, 2013.
"Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power,"
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- Martin Browning & Pierre-Andre Chiappori, 2006. "Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power," Economics Series Working Papers 289, University of Oxford, Department of Economics.
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- Martin Browning & Pierre-Andrée Chiappori & Arthur Lewbel, 2004. "Estimating Consumption Economies of Scale, Adult Equivalence Scales, and Household Bargaining Power," Boston College Working Papers in Economics 588, Boston College Department of Economics, revised 01 Sep 2010.
- Frederic Vermeulen, 2000.
"Collective household models: principles and main results,"
Public Economics Working Paper Series
ces0028, Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics.
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