An ordered probit educational attainment model, used to predict the lost earning capacity of a wrongfully injured minor child, was created by Spizman and Kane (1992) and updated by Kane and Spizman (2001). This paper re-estimates the educational attainment model using the latest round of interviews from the National Longitudinal Survey of Youth-1997. The model specification has been updated to reflect recent findings on the determinants of educational attainment. We also examine the legal framework in which econometric techniques have been accepted and have become standard tools in litigation.Abstract
Contributor Notes
*John Kane, State University of New York at Oswego, Economics Department, Oswego, NY
Lawrence M. Spizman, State University of New York at Oswego, Oswego, NY
Don Donelson, University of Miami School of Business, Business Law Department, Coral Gables, FL. The authors wish to thank Tony Escarrá for research assistance on legal issues associated with the application of the methodology contained herein.
Supplementary information for this article is available here.