Reflections on the 9/11 Victim Compensation Fund

Frank D. Tinari and John O. Ward
Additional contact information
Frank D. Tinari: Seton Hall University
John O. Ward: John Ward Economics

Chapter Chapter 18 in Forensic Economics, 2016, pp 289-303 from Palgrave Macmillan

Abstract: Abstract This chapter examines the September 11th Victim Compensation Fund (VCF) created by Congress in the wake of the 2001 terrorist attacks in the USA. The background leading up to the VCF and the rules it promulgated are presented, as is the role of the National Association of Forensic Economics in influencing the final guidelines issued by the Special Master. Partially as a result, VCF rules were modified to permit inclusion of the valuation of services, but that required an economist to quantify their value. The chapter explains how economic calculations were made under VCF rules, and how they differed in some important ways from calculations typically made in tort litigation. The chapter concludes by examining the possibility of applying a VCF-type system to other mass tort litigation.

Keywords: Terrorist Attack; Life Insurance; Horizontal Equity; Compensation Plan; Civil Litigation (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:pal:palchp:978-1-137-56392-7_18

Ordering information: This item can be ordered from
http://www.palgrave.com/9781137563927

DOI: 10.1057/978-1-137-56392-7_18

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().