Calculating Changes in Worklife Expectancies and Lost Earnings in Personal Injury Cases
نویسندگان
چکیده
This paper utilizes the Bureau of Labor Statistics (BLS) new worklife tables' information on workforce participation probabilities to estimate the effect of an injury on a worker's life expectancy, worklife expectancy and discounted expected income. After a medical opinion has been obtained concerning the effect of an injury on a worker's probabilities of living and remaining active, the BLS's probability figures can be adjusted and incorporated into a Markov process to estimate the impact of the injury. It is shown that Alter and Becker's technique can be adapted to estimate the present value of the lost expected income.
منابع مشابه
Detailed Estimation of Worklife Expectancy for the Measurement of Human Capital: Accounting for Marriage and Children
Measuring an individual’s human capital at a point in time as the present actuarial value of expected net lifetime earnings has a lengthy history. Calculating such measures requires accurate estimates of worklife expectancy. Here, worklife estimates for men and women in the United States categorized by educational attainment, race, marital status, parental status, and current labor force status...
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