IDEAS home Printed from
   My bibliography  Save this paper

Deriving Reasonable Range Estimates in Life Care Plan Analysis and Other Forensic Economic Applications


  • David Schap

    () (Department of Economics, College of the Holy Cross)


When an aggregate range of costs is estimated merely by summing the individual cost category ranges, the result is a reported aggregate range that is unnecessarily broad and thus misleading. The likelihood of occurrence of the extreme values in the range formed by mere arithmetic aggregation is so low that forensic economists would do better to omit such values by truncating their reported aggregate ranges. In searching for a suitable method of truncation, a few intuitively appealing methods are discarded once shown to be either impractical or intractable. Ultimately, a proposed procedure emerges that is methodologically sound and easily applied. The recommended method of truncation yields realistic and defensible aggregate range estimates that are capable of correct interpretation by forensic economists, attorneys, judges and jurors.

Suggested Citation

  • David Schap, 2003. "Deriving Reasonable Range Estimates in Life Care Plan Analysis and Other Forensic Economic Applications," Working Papers 0303, College of the Holy Cross, Department of Economics.
  • Handle: RePEc:hcx:wpaper:0303

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item


    forensic economics; life care plan;

    JEL classification:

    • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hcx:wpaper:0303. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Victor Matheson). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.