Did the 9/11 Victim Compensation Fund Accurately Assess Economic Losses?

Tinari Frank D (), Kevin Cahill and Grivoyannis Elias ()
Additional contact information
Tinari Frank D: Tinari Economics Group
Grivoyannis Elias: Yeshiva University

The B.E. Journal of Economic Analysis & Policy, 2006, vol. 6, issue 1, 43

Abstract: Under the September 11th Victim Compensation Fund (VCF), victims' families were provided monetary compensation based on economic and non-economic losses in exchange for giving up their right to sue U.S. entities, such as airlines. Was the Fund successful in calculating economic losses, and should it be repeated in the wake of another such attack? This paper assesses the extent to which forensic economists influenced the Special Master's decisions. We find that, for the most part, the Special Master's economic awards before collateral offsets were bounded by the presumed award amounts and the forensic economist's calculations, with substantial variation across claimants. This result implies that the Special Master's economic awards appear to have been significantly influenced by other factors offered during the VCF hearings, raising questions about fairness if a similar process is to be repeated in the future.

Date: 2006
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.2202/1538-0653.1438 (text/html)
For access to full text, subscription to the journal or payment for the individual article is required.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bpj:bejeap:v:topics.6:y:2006:i:1:n:2

Ordering information: This journal article can be ordered from
https://www.degruyter.com/journal/key/bejeap/html

DOI: 10.2202/1538-0653.1438

Access Statistics for this article

The B.E. Journal of Economic Analysis & Policy is currently edited by Hendrik Jürges and Sandra Ludwig

More articles in The B.E. Journal of Economic Analysis & Policy from De Gruyter
Bibliographic data for series maintained by Peter Golla ().