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- Title
In Texas, Life Is Cheap.
- Authors
Cross, Frank; Silver, Charles
- Abstract
This article examines the valuation of human life in the Texas tort compensation system. Using a large database that reports settlement amounts in over 11,000 cases seeking compensation for death, we find that the median settlement compensation is around $200,000. This is far below the $5‘$6 million used by administrative agencies, which base their valuation of human life upon economic studies. We also examine the determinants of compensation for death. The data show that compensation corresponds to legal standards for damages valuation, such as expected income loss. However, compensation in these cases is also significantly affected by other factors, such as insurance policy limits, location of injury, and nature of the defendant. We propose the adoption of a presumptive minimum award in wrongful death cases, to correct for undercompensation and associated underdeterrence
- Subjects
TEXAS; TORTS; COMPENSATION (Law); DEATH; GOVERNMENT agencies; DAMAGES (Law)
- Publication
Vanderbilt Law Review, 2006, Vol 59, Issue 6, p1874
- ISSN
0042-2533
- Publication type
Article