Forensic economics is a specialized field that applies economic principles to legal disputes. Forensic economists can help lawyers assess economic damages in personal injury and wrongful death cases, as well as in other types of litigation.
In New Jersey, forensic economics is an especially important field because of the state’s unique legal system. New Jersey has a “comparative negligence” system, which means that both parties in an accident can be found at fault. This can make it difficult for lawyers to determine how much damages their clients are entitled to.
Forensic economists can help lawyers by providing them with expert analysis of the economic damages that their clients have suffered. Forensic economists can use a variety of methods to calculate damages, including lost wages, medical expenses, and pain and suffering.
The Benefits of Hiring a Forensic Economist
There are many benefits to hiring a forensic economist for your legal case. Forensic economists can help you:
- Establish the value of your client’s economic damages
- Negotiate a favorable settlement
- Prepare for trial
How to Find a Forensic Economist
There are a few things you can do to find a forensic economist for your legal case:
- Ask your lawyer for recommendations
- Search online directories
- Attend conferences and workshops
When you are interviewing forensic economists, be sure to ask about their experience, qualifications, and fees. You should also ask about their familiarity with the New Jersey legal system.
Conclusion
Hiring a forensic economist can be a wise investment in your legal case. Forensic economists can provide you with the expert analysis and support that you need to maximize your client’s recovery.