Outside of the regulatory arena, Batkins fears that higher VSLs will lead to "higher tort damages." The practice of using the VSL to set compensatory damages for the loss of enjoyment of life is known as hedonic damages
. As I indicate in my book, almost all state courts now prohibit the use of the VSL for valuing the loss of enjoyment of life, so this is a non-issue.
She is entitled to compensatory damages--that is, lost wages, medical expenses, pain and suffering, and hedonic damages
(107.) While the adoption of the term "hedonic damages
" by a number of courts might have hastened the application of happiness research to this area of study, the application of happiness research to damage issues is a natural extension of the economic analysis of damages.
Only a handful of states recognize hedonic damages
today, (100) although the number appears to be growing.
sometimes known as hedonic damages
. (33) That makes sense on the
Bagenstos & Margo Schlanger, Hedonic Damages
, Hedonic Adaptation, and Disability, 58 DEF.
They examine issues involving life and worklife expectancy, earnings and earnings capacity, fringe benefits, medical and personal care costs, taxes, discounting, personal consumption, household services, hedonic damages
, and the relationship of forensic economics to ethics and the law.
(5) Some state courts have adopted the willingness-to-pay concept as one measure of the legal value of a human life in cases of wrongful death and personal injury, referred to under the rubric of "hedonic damages
Plummer, James L., "The Cost of Substitute Consumption Activities: A Better Alternative Than Hedonic Damages
," in Thomas R.
Core editorial comes from the third edition of "Stein on Personal Injury Damages," a volume that covers personal injury damages issues, including medical expenses, pain and suffering, wrongful death, punitive damages, hedonic damages
, damages for emotional injuries, attorney's fees, and review of excessive or inadequate rewards.
An economist can also provide an analysis of traditionally nonpecuniary elements of loss through hedonic damages
, which serve as proxies for measuring lost companionship, society, consortium, and enjoyment of life.
Peterson further stresses the importance of expert testimony by explaining its role in evaluating hedonic damages