- The Oxford Handbook of Professional Economic Ethics
- Introduction, or Why This Handbook?
- The <i>Skin-in-the-Game</i> Heuristic for Protection Against Tail Events
- The Ethics of Economic Decision Rules
- In Praise of Imperfect Commitment: An Ethic of Power, Professionalism and Risk
- “Econogenic Harm”: On the Nature of and Responsibility for the Harm Economists Do as They Try to Do Good
- About Doing the Right Thing as an Academic Economist
- The Social Responsibility of Economists
- The Ethical Economist: Duty and Virtue in the Scientific Process
- Ethics in Relation to Economics, Ecology, and Eschatology
- Poisoning the Well, or How Economic Theory Damages Moral Imagination
- Economists’ Odd Stand on the Positive–Normative Distinction: A Behavioral Economics View
- The Complex Ethical Consequences of “Simple” Theoretical Choices
- Good, Evil, and Economic Practice
- Alternative Ethical Perspectives on the Financial Crisis: Lessons for Economists
- Economists’ Ethics in the Build-Up to the Great Recession
- Ethics and Advances in Economic Science: The Role of Two Norms
- The Meaning of <i>Deceive</i> in Experimental Economic Science
- Honesty and Integrity in Econometrics
- Lady Justice Versus Cult of Statistical Significance: Oomph-less Science and the New Rule of Law
- Balancing Risk and Benefit: Ethical Tradeoffs in Running Randomized Evaluations
- Conducting Ethical Economic Research: Complications from the Field
- The Unprincipled Randomization Principle in Economics and Medicine
- Professional Disequilibrium: Conflict of Interest in Economics
- Considerations on Conflict of Interest in Academic Economics
- Ethics, Economic Advice, and Economic Policy
- Neoclassical Economics as the New Social Engineering: The Debacle of the Russian Post-Socialist Transition
- The Ethics of Economic Development and Human Displacement
- How Can We Better Address the Gaps in our Knowledge about Development Effectiveness?
- Confessions of a Policy Analyst
- Ethics and the Government Economist
- The Ethics Problem: Toward a Second-Best Solution to the Problem of Economic Expertise
- First Tell No Untruth
- Ethical Issues in Forensic Economics
- Exposure and Dialogue Programs in the Training of Development Analysts and Practitioners
- Ethics and Learning in Undergraduate Economics Education
- Creating Humble Economists: A Code of Ethics for Economists
- Codes of Ethics for Economists, Pluralism, and the Nature of Economic Knowledge
- Author Index
Abstract and Keywords
The involvement of economists as expert witnesses in civil tort actions has grown rapidly in recent decades. This involvement most often involves economists being asked to estimate damages in litigation involving personal injury and wrongful death. Because there is considerable discretion in the methods and data sources used by forensic economists, as well as potential conflicts of interest, there is suspicion that some economists act unethically in presenting damages estimates that are biased toward the party (plaintiff or defense) hiring him or her. As a consequence, the National Association of Forensic Economics (NAFE) has formulated a statement of ethical principles and practice, one of the only codes of its type to have been passed by an association of economists in the United States. A central issue addressed in this chapter is whether such codes can have a favorable effect on the quality and impartiality of economic testimony in litigation.
Robert Thornton is Charles William Macfarlane Professor of Economics at Lehigh University, and Associate Director of the Martindale Center for the Study of Private Enterprise.
John Ward is Chair and Emeritus Professor at the Department of Economics, University of Missouri-Kansas City; Research Associate at the Center for Economic Information; and Managing Editor of the Journal of Forensic Economics.
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