Economics and Accounting
Fields: Forensic Economics, Law and Economics, Public Choice
|• CV (PDF) »
Schap likes golf, golf and golf, in that order. Three times he has succeeded in qualifying for the finals of the Public Links competition for the state of Massachusetts. He also enjoys listening to jazz. For many years he played saxophone in jazz and other bands.
- ECON 112 Principles of Microeconomics
- ECON 249 Statistics
- ECON 255 Microeconomics
- ECON 304 Law and Economics
Forensic Economics is economics applied to issues that arise in litigation. Examples include calculating money damages in cases of personal injury, wrongful death, wrongful termination of employment, and loss of expected business profit. Economists are also called upon to calculate the equitable distribution of assets in cases of marital dissolution, determine the present cost of life care plans in cases of severe disability, and evaluate economic losses in cases of failure of fiduciary duty. At a theoretical level, forensic economists attempt to determine methods that are appropriate for evaluation in various contexts, giving appropriate consideration to the limitations of available data. Practicing forensic economists apply the various methods of evaluation, as appropriate, to actual cases of dispute. Economic reports often contribute to case settlement, especially when the practicing forensic economists involved provide estimates that are similar in magnitude. When a case fails to settle, either because the economic experts disagree or because of disagreements on other issues (e.g., liability, medical opinion or vocational opinion), the practicing forensic economist has to be prepared to explain and defend his or her professional opinion in open court or at a mediation/arbitration hearing.
David Schap's service to the forensic economics community includes Eastern Region Vice President of the National Association of Forensic Economics, 2008-2011, and Board member of the American Academy of Economic and Financial Experts, 2015-2017.
Lauren Guest (HC Class of 2013), David Schap, and Thi Tran (HC Class of 2014), "The 'Loss of Chance' Rule as a Special Category of Damages in Medical Malpractice Cases: A State-by-State Analysis," Journal of Legal Economics, vol. 21, no. 2 (April 2015): 53-107.
Corey Beck (HC Class of 2013) and David Schap, "The Consequences of Overstating Fuel Economy," The American Economist, vol. 60, no. 1 (spring 2015): 52-62.
David Schap, Robert Baumann and Lauren Guest (HC Class of 2013), "Wage Net Discount Rates: 1981 - 2012," Journal of Forensic Economics, vol. 25, no. 2 (December 2014): 153-174.
Lauren Guest (HC Class of 2013) and David Schap, "Rationales Concerning the Treatment of Federal Income Taxes in Personal Injury and Wrongful Death Litigation in the State Courts," Journal of Legal Economics, vol. 21, no. 1 (October 2014): 85-117.
Lauren Guest (HC Class of 2013) and David Schap "Case Law Concerning the Treatment of Federal Income Taxes in Personal Injury and Wrongful Death Litigation in the State Courts," Journal of Legal Economics, vol. 20, no. 1-2 (July 2014): 85-123.
David Schap, Lauren Guest (HC Class of 2013) and Andrew Kraynak (HC Class of 2012), "Total Offset and Medical Net Discount Rates: 1981 - 2012," Journal of Forensic Economics, vol. 24, no. 2 (September 2013): 191-204.
Andrew Kraynak (HC Class of 2012) and David Schap, "Historical Net Discount Rates: Amended and Reinterpreted," Journal of Legal Economics, vol. 19, no. 1 (2012): 17-36.
Conor Carney (HC class of 2007) and David Schap, "Recoverable Damages for Wrongful Death in the States: A Decennial View," Journal of Business Valuation and Economic Loss Analysis, vol. 3, issue 1, article 2 (2008): 1-9.
David Schap and Andrew Feeley (HC class of 2006), "The Collateral Source Rule: Statutory Reform and Special Interests," Cato Journal, vol. 28, no. 1 (2008): 81-95.
Scott Hinds (HC class of 2000), Nicolas Sanchez and David Schap, "Public Enterprise: Retrospective Survey and Prospective Theory," in Jurgen G. Backhaus and Richard E. Wagner (eds.) Handbook on Public Finance (Kluwer Academic Publishers, 2004): 277-300.
David Schap and Andrew T. Young (HC class of 1997), "Enterprise and Biodiversity: Do Market Forces Yield Diversity of Life?" Cato Journal, vol. 19, no. 1 (spring/summer 1999): 49-67.
David Schap and Deidre K. Valvo (HC class of 1996), "Recoverable Damages for Wrongful Death in the States," Journal of Forensic Economics, vol. 10, no. 3 (fall 1997): 279-284.
John R. Carter and David Schap, "Line-Item Veto: Where Is Thy Sting?" Journal of Economic Perspectives, vol. 4, no. 2 (spring 1990): 103-118.
David Schap, Municipal Ownership in the Electric Utility Industry: A Centennial View (New York: Praeger, 1986).
ADDITIONAL PUBLICATIONS APPEAR IN:
American Journal of Political Science, Eastern Economic Journal, Economic Inquiry, Elgar Companion to Public Economics, International Review of Law and Economics, Quarterly Review of Economics and Business, Research in Law and Economics, Public Choice, Social Choice and Welfare, and Southern Economic Journal.
- The Leavey Award for Excellence in Private Enterprise Education, by the Freedoms Foundation at Valley Forge in 1992
- Eastern Region Vice President, National Association of Forensic Economics, 2008 - 2011.
- Board member, American Academy of Economic and Financial Experts, 2015-2017.
- EDITOR: Journal of Legal Economics (since January 2014).