The Economist in Tort Litigation
- (pp. 101-112)
AbstractIn recent decades, the involvement of economists as consultants and expert witnesses in civil tort actions has grown rapidly. In this article, the authors discuss the reasons for this phenomenon and the extent to conflicts of interest to arise in the practice of what is frequently called 'forensic economics.' They argue that, although conflict-of-interest pressures exist, the limited evidence does not indicate that unethical practices are rampant within the profession. Moreover, market correctives, judicial screening, codes of ethical behavior, and the dissemination of knowledge concerning proper forensic practice help to serve as (arguably imperfect) safeguards against unethical practice.
CitationThornton, Robert, and John Ward. 1999. "The Economist in Tort Litigation." Journal of Economic Perspectives, 13 (2): 101-112. DOI: 10.1257/jep.13.2.101
- A11 Role of Economics; Role of Economists
- K13 Tort Law and Product Liability
- K40 Legal Procedure, the Legal System, and Illegal Behavior: General