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ALTERNATIVE DISPUTE RESOLUTION (ADR) CONSULTING
Resolution Economics assists counsel, arbitrators, mediators and private judges in many alternative dispute resolution forums. Our assistance can be as a neutral economic advisor, calculating the economic consequences of assumptions made by either parties, or neutral decision-maker. We also offer economic analysis at the behest of one party involved in an alternative resolution forum.
NEUTRAL ECONOMIC ADVICE
One of the biggest promises of alternative dispute resolution forums is cost savings. Resolution Economics can reduce costs to both sides by serving as a neutral economic advisor. We can assist parties and neutrals with litigation information management, economics theory and economic calculations. Our suggested approach where we act as a neutral economist in an ADR procedure is as follows:
- Create a common shared database to reduce copying, production and data management costs.
- Meet with both sides to discuss each party's theory of damages. Agree with the neutral on a framework and scope of the analysis.
- We create flexible economic models, or use Resolution Internet's Online Damages Model, where appropriate, to provide parties and the neutral with a range and best estimate of economic damages.
- Produce a report that details the factors considered when making our assumptions those assumptions impacted the range and best damages estimate.
- Both sides conduct a joint deposition to question the witness about the model and assumptions used.
- Both parties and the neutral provide a list of assumption changes.
- We perform calculations based on assumptions changed at the request of counsel or the neutral and present revised estimates.
ON BEHALF OF ONE PARTY
Resolution Economics also accepts consulting assignments on behalf of one party or for the neutral in an ADR procedure. Services in this area include:
- Assisting our client in understanding the economic issues and in developing the economics' argument.
- Identify tools, like statistical sampling, that may lower the cost of analysis.
- Perform necessary statistical and economic analysis.
- Where requested, produce a report with conclusions.
- Critique the opposing side damages analysis.
- Provide expert witness testimony.
For more information on these and other consulting services visit the Resolution Economics website or Contact Us.
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