How is lost earning capacity calculated in a catastrophic injury case?

Lost earning capacity is a key factor considered in a catastrophic injury case in Alaska. The calculation of lost earning capacity incorporates several complex economic concepts. In general, lost earning capacity is the amount of wages that a person would have earned had they not been injured. The calculation considers factors such as the person’s prior work history and salary. It also takes into account any future wages the person may be able to earn after the injury, as well as any income they may be able to receive from other sources. To calculate lost earning capacity, an economist must analyze several factors such as employment and wage data, the injury victim’s qualifications for employment, and the future job prospects of the injured person. The economist also considers the impact of the injury on the victim’s ability to work in the current job market. Lost earning capacity is an important factor in any catastrophic injury case, as it helps to quantify the economic harm to the injured person. It is also used to determine the appropriate amount of compensatory damages to which the injured person is entitled. Ultimately, the amount of lost earning capacity will be determined by the court after reviewing the evidence and economics testimony presented at trial.

Related FAQs

How is lost earning capacity calculated in a catastrophic injury case?

Related FAQs

Related Blog Posts